17 Oct How VR Got a Blockchain Makeover
How VR Got a Blockchain Makeover

“The digital revolution is whipping through our lives like a Bengali typhoon” Louis Rossetto

VR or virtual reality is a generated by a computer program that allows us to experience a virtual 3D world by putting on a head-mounted display. Historically, the first VR ever was created in the 1960s and it was called Headsight. Interesting enough, there were non-digital VR predecessors, such as 360-degree paintings that had the same purpose of imitating another place without actually physically moving the person anywhere. Before VR found its place in the gaming industry, it had been used to envision how particular things can change the design or structure in the landscape planning or architecture industries among others. 

Nowadays, it is more about gaming industry. Location-based VR is now a billion industry according to the recent article in WIRED. People are getting charged a lot of money for a chance to play a game in public. The recent development in the VR industry is its merger with blockchain. Blockchain makes it easier, cheaper and secure to verify and authorize transactions and VR found a way to leverage the above-mentioned benefits. We can see a few emerging examples of such collaborations. 

One of such companies is Decentraland, it is a virtual reality platform powered by the Ethereum blockchain, owned and created by its users. Users can create, experience, and monetize their content and applications. Users get to create their own land and build cafes, casinos, attend workshops and visit underwater resorts.  

Another platform Ceek transports people to places they can’t physically go. It is governed by Ethereum Smart Contracts and allows holders of CEEK Tokens to participate in virtual reality space for real world celebrity concerts, sporting events, classroom learning and more. By utilizing the blockchain, CEEKERS will be able to access, manage and exchange digital assets at a fraction of the cost.

Blockchain and VR advance the e-commerce space as well. Mark.space platform uses blockchain and VR to develop a new way to do online shopping by allowing customers to virtually visit shops and see the items they want to purchase. 

To sum up, utilizing blockchain for the VR industry projects contributes to the mainstream adoption of blockchain technology and to the rapid expansion of the VR industry itself. We can also see a bigger picture emerge: the digital revolution became a new backdrop of our everyday life. VR tries to replace the reality, and the question is not whether it will do so successfully or not, but the consequences it will have on our lives. Whether it is a blessing or a curse, but it seems to me that there is no glass ceiling for the digital revolution to break through: the ceiling is virtual and thus non-existent. 

Originally published on Medium