Having grown from just a concept, virtual reality is now a booming industry. It is expected to be worth over $215 billion by 2021, and Blockchain Mix is looking to cash in.
What Is BlockchainMix?
Blockchain Mix is a blend of blockchain technology, virtual reality, and augmented reality. It is a term that was coined by Arcona in a New York conference, and it is expected to shape the future of the interaction between blockchain technology and virtual and augmented reality.
The Digital World Is The Next Frontier
Virtual reality has been described as the next frontier for us. Developers of augmented and virtual reality technology have unlimited capabilities when it comes to shaping VR and AR.
Currently, AR and VR developers are cloning the real world in the digital world. They are recreating popular landmarks and bringing historical places back to life. Specifically, Blockchain Mix is developing new pieces of digital land in Soho, New York. Soon, digital land may be just as valuable as real land especially considering that the latter is finite.
Revolutionizing The Travel Industry
Virtual and augmented reality has especially proven beneficial for the travel industry. It helps to give travelers an insight into where they are planning to visit before they actually do so. It essentially gives them a feel of their planned destinations.
AR and VR are also proving profitable for the tourism sector. Imagine seeing Pompeii in intimate detail in spite of the fact that it is long gone. Imagine seeing the African Savanna with all the wildlife it harbors without actually going there. That is exactly what AR and VR are offering, and it is helping to pick the interest of many would-be tourists.
For instance, visitors to the Teutonic Knight’s castle in Latvia have increased by over 30% since the landmark was recreated in virtual reality. This is only the beginning if Arcona gets its way. Arcona is a project initiated by Piligrim XXI, a company that is focused on VR and AR. It is planning to create an AR layer over the entire world, essentially recreating every aspect of the world as we know it. So far, Arcona has already designed 8 AR projects recreating some of the most famous landmarks, but it has a long way to go considering that we have not even explored the world enough.
It is expected that this ambitious project will be the focus of Blockchain Mix and that blockchain technology and smart contracts will help monetize the industry.
Mixed VR Blockchain Technology Hurdles To Overcome
Virtual reality and augmented reality have a long way to go before they can be fully mature. The technology is still in its first phases, and there is a shortage of AR and VR gear. What’s more, many users are still finding it difficult to use the technology with difficulties such as motion sickness reported.
However, like any other technology, AR and VR will get better soon considering the interest around them. For instance, Apple is pulling its weight with the ARKit and Facebook is unveiling the promising AR Studio technology.