The crypto market is estimated to be worth about $400 billion USD. Coupled with the rise of Decentralized Apps (DApps), blockchain technology is proving that it has use beyond just digital currencies such as ETH and BTC. The AR industry continues to grow and improve with time. By 2021, it is predicted that the AR market will be worth as much as $215 billion USD.
For AR or Augmented Reality to work, it requires real-time, perpetual spatial maps that encourage AR-based collaboration and the sharing of experiences among users. With the decentralization and transparency, scalability, and security of the blockchain, it could help AR to achieve its goal.
What Is Scanetchain?
Scanetchain is a decentralized project that will utilize the NEM blockchain to achieve blockchain commercialization. The Scanetchain, which is based on the AR technology, will utilize the AR streaming service for purposes of identifying products, brands, and images both online and offline.
How Scanetchain NEM Blockchain Augmented Reality Works
Scanetchain is going to utilize the blockchain to create a scanable market that lets users scan a physical object using their phone camera. Besides the camera, users will not need any other type of equipment. Since the connection is via the blockchain, access will be instantaneous. The AR content will be availed via data streaming that takes place in the cloud. At the core of this platform is a hybrid of on-chai and off-chain blockchain that consists of four parts:
- An AR advertising systems where users can AI scan advertise anywhere at any time using an AR camera; they get tokens as rewards for watching the ads.
- An AR shopping system lets users utilize accumulated tokens to makes purchases of advertised products. They can also use tokens to buy the paid content.
- An AR social network that lets users bring the blockchain-based social network content offline via the scanetchain AR frame
- A content distribution system created by Scanetchain that comes with an automated notarization system based on the NEM blockchain.
Scanetchain SWC Token ICO Details
- Duration: April 9, 2018 – May 13, 2018
- Currency: ETH
- Price: 1 ETH=7,941 SWC
- Duration: May 14, 2018- May 28, 2018
- Currency: ETH, BTC, XEM
- May 14- May 18 – 1 ETH=6,109 SWC
- May 19- May 23 – 1 ETH= 5,672 SWC
- May 24- May 28 – 1 ETH= 5,294 SWC
- Duration: May 29-June 7
- Currency: ETH, BTC, XEM
- Price: 1 ETH= 4,963 SWC
Unsold tokens will be held in lockup for two years for future circulation in the ecosystem
The Scanetchain Vision
The platform has the vision of becoming the go-to virtual space where people can sell or buy products and content for a pre-defined fee or royalty. This platform is structured to ensure that products and ads can come together as a single and interlinked ecosystem that consists of various platforms. AR and the blockchain power the Scanetchain platform. This will ensure that shopping, advertising, and social networking that take place offline and online take place with ease.
Scanetchain is a win for all involved. Users get a reward for watching ads. The tokens can then be used to purchase goods. On the other hand, advertisers can use tokens gathered from purchases to set up ads, thus growing their brand.