It is becoming abundantly clear that Virtual Reality (VR) based games and movies are the future of the entertainment industry. As per official reports, this market domain is set to grow to a staggering $200bn+ over the next 5 years. Additionally, with the advancements being made within the smartphone domain, it is not a far fetched idea to think that VR will soon become a prime technology for consumer applications and platforms.
What Is Terra Virtua?
Terra Virtua is an all new “crypto subscription service” that will provide its users with streamlined access to VR content such as:
- Video Games
What sets this platform apart from other similar products is its business model. Terra Virtua allows for an outright purchase of digital content, rather than providing data-access through a monthly subscription scheme.
In its most basic sense, Terra Virtua can be thought of as a fully immersive, blockchain driven platform that provides users with VR entertainment in real time. What makes this service unique is that it focuses on delivering users with content that is unique and driven by futuristic technologies.
Terra Virtua Decentralized VR Entertainment Features
As per the official whitepaper, some of the main people behind this project have been in the digital industry for over 10-20 years. For example, Kish Hirani who is the CTO of this company has previously headed operations for Sony PlayStation and other high-profile ventures.
Owing to the fact that Terra Virtua is based on the blockchain, it is able to provide users with a high level of security and privacy.
When looked at from a technical standpoint, we can see that the framework supporting Terra Virtua is next gen ready.
Multi- Utility Platform:
Another underrated aspect of this platform is its robust, secure blockchain based economy. To elaborate on this point a bit further, we can see that through the use of Terra Virtua users can purchase items such as:
- In-game tokens
All of these activities will be driven through the use of a native currency called TVT.
Incentive Driven Ecosystem:
According to the website, consumers and platform users have the ability to earn tokens in a host of novel ways including
- Watching an eSports tournament
- Sharing experiences on social media.
The company has already collaborated with a diverse range of game developers, eSports platforms, media outlets and music event broadcasters to further their market reach.
Fully Ready System:
The core prototype for this system has already been made available to the public. However, the commercial launch is scheduled to take place some in November 2018.
Terra Virtua TVT ICO Details
Terra Virtua makes use of an ERC20 compatible token called the TVT. In all there are a total of 1,000,000,000 TERRA that have been created. Payments can be done only via ETH and BTC at the moment.
Allocation of Funds
- 25% of the raised money will be used for content acquisition from various other platforms
- 28% will be used for the development of blockchain infrastructure
- 27% has been set aside for salaries and other administrative costs.
- The remaining amount will be used for marketing and advertising purposes.
The ICO is set to go live sometime in April. However, the exact date has not been released to the public as of yet.