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The developers of decentralized project Viarium are creating a scalable network in which virtual worlds will be hosted. The platform will include software for the organization of a personal VR space, as well as an ownership framework for virtual land units and a payment system for consumed server capacities.
Viarium is launching a so-called “world host”—a server that will help participants create their own virtual reality. Fees are collected for consumption of the platform’s server capacities. The project’s architecture allows any 3D object to be uploaded into the existing VR space.
The Viarium platform provides the opportunity to conduct business in virtual reality not only to game developers but also to construction companies, real-estate agents, car dealers, shop and art gallery owners, and educational facilities alike. They all get the opportunity to create and quickly monetize an additional channel for interaction with their clients in VR space.
The startup has already successfully launched VR projects with bank Otkritie, furniture chain Hoff, and online retailer Ozon.ru.
“The VR/AR market is only going to grow—Goldman Sachs predicts that the industry will grow to $80 billion in annual revenue by 2025. Viarium will allow the existing VR worlds and properties to be recorded into a distributed ledger and, with the use of blockchain technology, will safely protect ownership rights for virtual land.”
The AR/VR market is currently dominated by video game developers, but experts see potential growth in the use of the technology in the government sector, machine building, education, and even health care. The current market leaders are Samsung (Gear VR), Sony (PlayStation VR) and Facebook (Oculus Rift), but undoubtedly, new players will emerge as the market grows.
The VR/AR market cap currently stands at approximately $1.8 billion, according to analytics company SuperData, and experts are predicting an increase to $37.7 billion by 2020. Investment in the sector grew dramatically in 2016, from $274 million to $1,099 million (CB Insights). Therefore, it is easy to imagine that the industry will only continue to grow. Whether it will be possible to combine all virtual space onto one server, only time will tell.