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A company specializing in augmented reality (AR) is launching a brand-new crypto asset called Digital Land.
Arcona is building the first complete digital world that is tied to a particular location in the physical world and perfectly suited for the remote placement of interactive content.
Initially, the company is going to create 1,500 sq km of Digital Land – a layer of AR – across 10 major cities around the world – with the project describing it as an “exciting opportunity” for the creative sector and businesses who are looking to advertise or engage customers through new concepts.
Every plot of this crypto asset would be linked to a real-world location, and unlike current solutions which mean developers need to visit a site before they begin working on a project, Arcona says remote positioning technology will help them to complete an installation even if they are on the other side of the world.
The 10 cities involved in Arcona’s launch in 2018 have been unveiled. They are:
- The Gothic Quarter of Barcelona
- The City of London
- The historical centre of Mexico City, from Constitution Square to Alameda Central Park
- The historical New York neighborhood of SoHo in Lower Manhattan
- The 1st arrondissement of Paris – described as the French capital’s “oldest, most famous and elite district”
- The Forbidden City of Beijing, home to the most-visited museum in the world
- The central district around Palace Square in St Petersburg, a bustling area for tourists thanks to its UNESCO heritage site status
- The Sultanahmet district of Istanbul
- Asakusa district in Tokyo
Arcona is expecting that the AR layer (Digital Land) will fully cover the Earth’s surface in 2019. Users would be able to buy, sell, rent or donate Digital Land, launch their own business or create an art project on it. According to Arcona, the only difference between real land and the Digital Land is that it’s located in an AR layer across the globe.
How would people see it?
As well as enabling developers to create installations, Arcona plans to launch free software called AR Viewer that enables everyone to see augmented reality through various devices, such as headsets, smartphones, glasses and tablets.
The company believes plot owners could reach an audience of millions of people a year. Given how the world’s population is growing and physical space is at a premium, leading to an oversaturated market, Arcona believes Digital Land offers an innovative way to grab the public’s attention.
When it comes to pricing, the project imagines that different plots would command different prices. For example, it is likely there would be more competition for Digital Land in the center of a bustling city than space out in the suburbs. Auctions are going to be held for the crypto asset so the platform’s base can determine market value for themselves. Blockchain would be used to keep track of who owns which plots, and transactions would be completed through a universal currency called the Arcona token.
Within five years, Arcona wants its AR platform – along with Digital Land – to be regarded as an industry standard. It aims to increase the quantity of its crypto asset as demand increases, with 100,000 sq km of Digital Land in international cities one of the company’s goals for the future.
A track record in augmented reality
Arcona is supported by an established team of developers who have been working in AR for several years. Called Piligrim XXI, they have shown how AR can be a powerful tool for engagement in their previous projects.
Four years ago, they created the world’s first AR park, Teutonic knights’ castle, in Latvia. When it launched, the number of tourists visiting the site increased by 30 percent. Meanwhile, the time visitors spent there rose dramatically to two hours – an eightfold increase on the 15-minute average prior to launch.
The prototype of the platform is already developed: Arcona recently patented state-of-the-art algorithms based on neural networks and AI. They allow for a much faster analysis of a huge amount of data and images to create the most accurate virtual impression of any physical environment.
Arcona’s initial coin offering is now underway and will conclude on May 15. Contributors at this phase have an opportunity to win free Digital Land in the 10 cities where the crypto asset is being unveiled first.
ICO participants are also going to get the chance to buy the best plots of Digital Land through exclusive auctions in June.