ImmVRse is a decentralized sharing platform built on the Ethereum network catering mostly to creators of virtual reality (VR) and similar content.
ImmVRse is a decentralized sharing platform catering mostly to virtual reality (VR), augmented reality (AR), and similar content. The platform runs on the Ethereum network, using the advantages of smart contracts and blockchain technology to contribute to developing the VR industry.
The ImmVRse token (IMV) initial coin offering (ICO) crowd sale started on July 7, 2018, and is scheduled to end on September 8 of the same year. The startup reported that a number of institutional and non-institutional investors have expressed their interest in the startup. The ICO has set soft and hard caps at US$20,000.
ImmVRse has noticed several problems surrounding the world of virtual reality content creation. The startup believes through blockchain technology, its platform can overcome these difficulties and lift the VR community.
- Provide Interactive VR-Focused Platform. Even though most video-sharing websites have VR-related content, they are still dominated by 2D videos. VR content creators find it hard to establish an audience without a dedicated platform. ImmVRse aspires to become that platform. Through the benefits of blockchain technology, ImmVRse provides a decentralized network where VR content creators, viewers, businessmen, and more can socialize and interact with each other anywhere in the world.
- Use Built-In Tokens as Payments. Different jurisdictions require different currencies to conduct transactions. Things would become more complicated once a client and a content creator transacted in different currencies. Meanwhile, the ultimate mode of payment in the platform is its ERC-20 token. Every smart contract and other deals made on ImmVRse would require using the ImmVRse token. Blockchain transactions are not only fast, but they also incur low to zero fees.
- Adopt a Sustainable Revenue Model. Because of the set of mathematical algorithms on most video-sharing platforms like YouTube and Vimeo, only the famous and the viral videos have a great chance to generate revenue. On ImmVRse, content creators and viewers can get a share of the revenue the platform earned through advertising deals.
A Platform Not Just for Creators
While VR content creators are at the core of the ImmVRse ecosystem, companies and advertisers have a role to perform on the platform as well.
Companies looking for content creators can use the ImmVRse platform to find a list of producers and their works. These companies can hire content creators through a smart contract, the terms determined by only the two involved in the deal. Content creators then receive payment through IMVs or through Ethereum’s Ether (ETH).
Similarly, advertisers can publicize their brands throughout the ImmVRse platform simply by buying the space with IMVs. ImmVRse will keep 50 percent of the revenue earned from advertising space. Meanwhile, the remaining 50 percent will be divided into separate funds—one for rewarding viewers and another for rewarding content creators.
Becoming the Place for Anything VR
ImmVRse believes that VR and similar content could have a significant role to play in the lives of people in the next decade. In its whitepaper, the team presented different applications of virtual reality in different sectors of society, including the medical, educational, and manufacturing fields, among others.
The team is also confident that blockchain technology can provide a secure platform for VR content creators. In addition, smart contracts can ensure that transactions are completed without the need for a third party.
Moreover, the use of IMV allows anyone to participate in the transaction wherever they are. The token could also make payments faster and cheaper.
In the longer term, ImmVRse envisions itself to become one of the biggest decentralized and self-sustaining platforms that use its own crypto as a tradeable commodity.