WEARVR Blockchain Virtual and Augmented Reality Project to Launch WEAVE Coin via ICO
WEARVR To Launch Its Blockchain And WEAVE Coin To Improve The AR And VR Industry
One of the biggest influencers on in the Virtual Reality (VR) and Augmented Reality (AR) industry, WEARVR has announced its plans to integrate blockchain technology on the platform and launch its WEAVE coin in a bid to solve the persistent issues troubling the industry. As the only completely independent app store that serves the community in this ecosystem, WEARVR is well positioned to make the blockchain process a success. The network of working with some of the biggest tech companies in the world including Facebook and Google will also boost the overall adoption of the WEAVE coin.
However, the increasing levels of piracy and copyrighting issues faced in the art industry has crept in to VR and AR as well leading to WEARVR deciding to integrate blockchain on its platform to curb the problem. The company will further launch its own cryptocurrency named, WEAVE that will be used as a base currency on the platform.
WEARVR To Integrate Blockchain Systems On Its Platform
Speaking on the launch of the WEAVE coin, the CEO and Co-founder of WEARVR, Nic Mitham was quoted saying WEAVE coin will benefit from the influence and experience that WEARVR has accumulated through the years and the contributions made to building the VR industry. He further called on to those ready to invest in the ICO to have faith in the project as the company offers more than just a “whitepaper”. He commented,
“Whereas a big percentage of other ICOs are raising funds just on the strength of their whitepaper, and then attempt to create an ecosystem for usage, we already have the ecosystem that users trust and rely on, therefore we have a project that is already practical and proving to generate returns.”
Mr. Mitham further commented,
“WEARVR has already been a major contributor to building the VR industry, we are already in the market for four years now, and we already have thousands of registered users, globally recognized partners, distribution networks and platforms.”
The WEAVE Token
As is with different digital assets on blockchains, WEAVE will run the platform acting as an incentive to the development team, content creators and other curators for their decentralized applications (dApps) on the WEAVE dApp store. This is set to make raising funding from the community for these projects easier for the developers and creators.
The purchase of dApps on the WEAVE dApp store also offers a chance to the investors of the projects to profit from their investments. The dApp store aims at offering its consumers with the best applications available to see the worth of the revenue they generate on WEAVE store.
Furthermore, WEAVE token will be the driving force of the payment and settlement systems on the platform enabling users security in content creation, digital rights management (DRM), transparency of ownership, and user rewards and incentives by integrating WEAVE into the existing centralized WEARVR app store. WEAVE coin will be available for fiat and crypto option to trade with.
As the native currency of WEAVE dApp store, the coin will offer free transactions on the store while purchasing VR games, equipment or setting up an application. The blockchain will provide a cryptographically secure, public and immutable platform enabled by the DRM security system. Furthermore, users can exchange digital assets through the WEAVE coin as the platform adopts smart contract technology to provide proof of ownership.