SAN FRANCISCO, May 24, 2018 /PRNewswire/ -- High Fidelity, the open-source distributed VR platform, today announced that BLOCKv, the leading platform for creating and publishing digital objects on blockchain, is joining the Virtual Realty Blockchain Alliance (VRBA).

Through the VRBA, High Fidelity and BLOCKv will work with other virtual world providers to ensure that digital assets, currency and identity from each platform can be used on the others, enabling the free flow of people and digital possessions between different virtual experiences.

BLOCKv technology will enable digital creations, called Virtual Atoms (or 'vAtoms') to be taken into virtual worlds built using High Fidelity. Those assets could then be used or even modified in-world like any other 3D virtual object. Equally, content owners inside High Fidelity will be able to export their creations to augmented reality applications, where they can be found, experienced and collected by users of BLOCKv.

"Imagine hunting for digital treasure in an Augmented Reality scavenger hunt, and then being able to bring that same object into High Fidelity to show your avatar friends. You could then combine it with other items and export it back into the real world where it can serve as a concert ticket, a rare collectible or a redeemable coupon at retail," said Reeve Collins, CEO of BLOCKv. "The blockchain is the mechanism that will safely and securely connect virtual worlds, which will scale to hundreds of millions of users as consumer-ready VR and AR hardware continues to roll out. BLOCKv is pioneering how this change will intersect with users, companies and places in the real world, and we are delighted to be working with High Fidelity to reshape the digital consumer experience."

"There is great potential for interoperability between virtual worlds, and also between real and virtual worlds," said Philip Rosedale, CEO and founder of High Fidelity. "Many useful things will have meaningful representations in both places—real and virtual. And being able to bring virtual creations into the real world will create more opportunities and revenues for digital creators, growing virtual worlds faster."

BLOCKv joins Admix, High Fidelity, JanusVR, Somnium Space and SVVR in a growing movement to develop open standards for assets, currency and identity on the blockchain, along with common mechanisms to move this content between different VR and AR worlds.

About BLOCKv

Headquartered in Zug, Switzerland, BLOCKv provides a development platform and community for the creation and distribution of dynamic, intelligent, experiential digital objects that bridge the gap between digital and physical worlds, called vAtoms. Built on secure blockchain technologies, BLOCKv's 'smart' digital objects work on any digital platform, are obtainable anywhere, store actual transactional value and are immune from fraud. When combined with the power and name-recognition of major brands, BLOCKv digital objects have the power to transform the landscape of physical, digital and social advertising; micro-transacting; ticketing; gifting; coupons and promotions; and more. For more information, please visit https://blockv.io/.

About High Fidelity

High Fidelity distributes an open source, scalable platform to create 3D virtual worlds. Performers, educators, makers, entrepreneurs and brands can create and host their own social VR experiences. Visitors can take their avatar between virtual worlds with a consistent identity. High Fidelity ensures content rights and ownership with a federated digital asset registry based on blockchain, and powers an economy with its own cryptocurrency, High Fidelity Coin. Based in San Francisco, High Fidelity was founded by Philip Rosedale, creator of Second Life, and is backed by investors including Breyer Capital, GV, HTC, IDG Capital Partners, Kapor Capital, Linden Lab, True Ventures and Vulcan Capital.

SOURCE High Fidelity

Related Links

http://www.highfidelity.com

