Voxelus, a virtual reality (VR) content creation platform, will launch a cryptocurrency called voxels along with a VR marketplace it will be introducing next year, reported siliconangle.com. Voxels will be based on a Litecoin fork. To secure funding, Argentina-based Voxelus will sell voxels in a public crowdsale beginning Nov 2.
Voxelus is a three-dimensional app that allows users to create VR games, experience and spaces without needing to write code. It features a VR player app that plays content using the desktop content tool on Oculus Rift or Samsung VR.
There have already been more than 20,000 downloads of Voxelus’ Creator software since its debut as Oculus Connect, according to Siliconangle.com.
VR Market Expected To Expand
The launch of three VR headsets in the first quarter of 2016 – Oculus Rift, PlayStation VR and HTC Vive – is expected to bring a big expansion in VR entertainment, games and assets.
Voxelus needed its own cryptographically-secure, in-game currency to bring VR assets and games to market, according to Uphold, a bitcoin exchange that will support voxels. Uphold, previously known as Bitreserve, helped to create, distribute and support the proprietary voxel currency, which will be the only form of value that the Voxelus platform will accept.
J.P. Theirot, Upold vice chairman and head of the reserve and investor relations, noted in a recent blog that the Voxelus platform is highly addictive and impressive.
Uphold will release an Uphold VOX Card, giving Uphold members the ability to buy voxel with bitcoin via bank transfer or debit or credit card. Theirot noted that voxel will be fungible, transferable and spendable.
Voxels will be based on a Litecoin fork with 210 million coins and 2-minute confirmations. The voxels are open-source and pre-mined.
Public Crowdsale on Nov. 2
The public crowdsale for voxel begins Monday, Nov. 2 at sale.voxelus.com. There will be a 100 voxel minimum ($25 to $30 depending on purchase date.) The public presale will begin with a 24-hour sale of 1,000 voxels per bitcoin. Three periodic price changes of 900, 800 and 750 voxels per bitcoin will follow until 30 days or the selling of 31.5 million voxels. A private presale of 100,000 voxels per bitcoin was scheduled for Oct. 15. for cryptocurrency investors and partners.
The company will offer 15 percent of the tokens through the crowdsale and will distribute the rest over two years.
Halsey Minor, Voxelus co-founder and chairman and also the founder of the Uphold, said he was influenced early in his career by writers like Neal Stephenson in books like “Snow Crash” which envisioned worlds having both virtual money and VR. He sees turning science fiction into reality an entrepreneur’s dream. Giving voxel functionality that is equal to bitcoin and at the same time serves the ecosystem of a VR gaming platform marks a remarkable technical accomplishment, he noted.
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Bitcoin Exchanges To Support Voxels
After the sale, voxels will be available on Uphold and on ShapeShift.io, Erick Voorhees’ registration-less cryptocurrency exchange.
Voxelus noted Voorhees is a team member and ShapeShift is an investor providing the back-end for the presale and public sale.
Images from Shutterstock and Voxelus.