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The hype around the Metaverse has died down. While the end of 2021 and the first half of 2022 seemed to be only about the best projects in the Metaverse, the past couple of months have not brought any excitement in this area. At least it may look that way.
However, change Metaverse to virtual reality (VR) and one can see that there are still some things cooking, especially when joined with blockchain technology. That is why this guide will introduce five of the most interesting and promising projects that combine the cryptocurrency’s underlying technology, the blockchain, and VR.
The first project on the list is Highstreet (HIGH). This project is a decentralized MMORPG (massively multiplayer online role-playing game) that is built around virtual reality. It blends the boundaries between the physical and the digital through such features as redeeming in-game items for real-life products.
The gamers can earn items both in game as well as in real life while exploring the whole Metaverse, fighting creatures or completing different in-game tasks. They can also buy and sell in-game items safely, securely and seamlessly. They can do this thanks to two different tokens that Highstreet offers.
The first one is HIGH, which is a native play-to-earn token. It mostly serves as a traditional governance token, thus giving the players an option to vote on strategic decisions. The game, however, also has a STREET token, which is a utility token that can be acquired through completion of in-game tasks. This token can be for instance used to buy armour, weapons, hotel stays or other in-game features, products or services.
All of the items in the game are represented in the form of ERC-721 token standard. They are also categorised as non-fungible tokens (NFTs). This means that the owners can not only prove their ownership, but also benefit from different features such as receiving real-life items solely based on the NFT ownership.
The project was developed in 2015 by Travis Wu and Jenny Guo. Travis Wu is a software developer with a background in VR. Jenny Guo is an award-winning VR film producer and an art collector. While it was initially known as LumiereVR, it was later rebranded to Highstreet.
Our second project on the “must-watch VR list” is CEEK VR (CEEK). CEEK VR is a platform that creates the best possible connection between the artists, sportsmen, actors or other celebrities and their fans. Thanks to CEEK VR, different content creators are able to monetise their work. This is allowed thanks to a patent for “award-winning virtual events streaming platform.”
CEEK VR has a mission to create easy-to-use VR Metaverse, in which fans can enjoy the concerts of their favorite singers, watch their teams plan crucial matches or visit gallery shows of artists without having to leave their homes. All of this is thanks to the plethora of possibilities that this project offers to enter the VR world. Some examples of VR headsets cooperating with CEEK VR include Oculus or HTC Vive. All of them include a 360-live view of the event that is being attended.
CEEK VR has, thanks to its unique solution, been able to partner with stars such as Lady Gaga, U2, Demi Lovato, Bon Jovi or Katy Perry. However, the list of celebrities includes many more popular stars mainly from the music industry.
CEEK VR has been created by Mary Spio, who has also been the main person behind its development. Spio has previously worked for the likes Universal Music, Microsoft XBOX or Coca-Cola. She is also on board of Oculus VR for Good and Amazon Launchpad. Thanks to the wealth of her knowledge as well as experience, Spio was able to transform CEEK VR to one of the most exciting virtual reality projects of today’s world.
The native token of the CEEK VR is CEEK. This token was initially ERC-20, however it migrated to Binance Smart Chain with all the tokens being converted to BEP-20 standard. The tokenomics of CEEK are as follows: 50 % sold in token sale, 20 % owned by the team, investors and advisors, 20% was deployed to community development and 10 % is in reserves.
Next on the list is Virtua (TVK). Virtua is a VR project that is oriented towards immersive social Metaverse and Web 3.0 gaming as its main purposes. It also builds around digital collectibles and interactive virtual environments. There is however one main reason why this project stands out. And those are its partnerships. Virtua already has exclusive brand partnerships with such companies as Paramount Pictures, Dynamite Comics, Legendary Entertainment or Williams Racing.
The project was founded in 2017 by Gary Bracey, who is the Chairman of Virtua, and Jawad Ashra, who is the co-founder and the current CEO of Virtua. Before creating Virtua, Bracey worked in the gaming industry for well over 35 years, while Ashra experienced different industries such as insurance, mobile applications, risk management or energy trading.
Virtua is determined to build one of the most realistic and exciting gaming metaverses out there. It will initially launch in the form of Cardano Island. There, the members of the ecosystem will be able to interact with each other, collect digital artefacts or personalise their own virtual environments, amongst other things.
Its native TVK token has a total supply of 1.2 billion and has been distributed amongst different groups such as the team, public or private investors. TVK is a traditional ERC-20 standard utility token that can be used in-game. It was launched on December 16th 2021.
Virtual reality meets blockchain meets 3D scanning. That is our next project called Metahero (HERO). Metahero is a project bridging physical and virtual worlds thanks to 3D technology that will scan people and create extra-realistic avatars in its game. With more than 12 planned 3D-chambers across the globe, 100 000 people per year can scan their bodies and create life-like avatars. These would then be able to get different skills, amongst other things.
This concept is also known as meta-scanning, a process during which real-world objects are being scanned into virtual reality. And this is where Metahero wants to shine thanks to its extremely advanced technology and scanning techniques.
The project was created by Robert Gryn, who is the founder and CEO. Prior to Metahero he was a serial technology entrepreneur and hyper-successful startup manager. He is also the main investor in the project. Metahero has started with a seed round of $10 million. The team working on Metahero also contains such names as Piotr Harwas, CEO of Wolf-Studios, Jeremy Lopez, the COO of Metahero or Marcin Gracjar, project’s Head of Product.
Metahero currently runs on Binance Smart Chain and is using proof-of-staked-authority (PoSA) consensus algorithm. This allows for lower fees, faster transaction speed and interoperability. The native token of Metahero, HERO, has the maximum supply cap of 10 billion HERO. The tokenomics is set as follows:
The last token on this list is a bit different. While it is not a 100% VR project, it still can belong to this category thanks to what it does. Render Network is a project that is able to transform the power of GPU computers into a decentralized economy that is built around 3D assets. Any form of object from the real-world can be thus shared and monetised in the virtual world on the platform.
The team around the platform includes names such as Ari Emanuel, JJ Abrams or Brendan Eich. All of these, and many more are currently registered as advisory boards of the project, bringing various skills, experience, partnerships and networks together.
Render Network uses a mixture of proof of work manual and automatic technologies. However, the consensus protocol of this platform is called proof-of-render. This allows for verifying and rendering of all the art or objects being distributed over the network.
The Render Network has its own native token called RNDR. This is a breakthrough cloud rendering token that is creating a distributed global network of GPU devices. This ERC-20 token can be for instance used by artists. The token serves as a payment mechanism for them. During the rendering process the tokens are stored in an escrow and are only released to the node operators once the commissioning artist manually verifies it.
Obviously, the subsector of VR blockchain and cryptocurrency projects is much larger. While this article brought 5 most interesting or promising, here are some other projects that might be worth your time and research: Vemp (VEMP), Wilder World (WILD), Somnium Space Cubes (CUBE), SENSO (SENSO) or OVR (OVR).
The world of virtual reality is currently not followed as much as it used to be. That, however, does not mean that there are no exciting developments in the field. On the contrary, as this article showed, there are currently several projects that are definitely worth following as their goals and missions are exciting to say the least.
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