A blockchain-powered monetization platform designed for use with virtual reality (VR) and augmented reality (AR) called Gaze Coin will be launching its Initial Coin Offering (ICO) on 28th November, 2017.
Gaze Coin uses eye tracking to calculate the amount of time users spend looking at or interacting with various objects and areas within VR or AR content. This information can then be converted into a monetary value and the advertiser can be charged and the content owner or creator can be rewarded for the content thus consumed.
“For too long, VR/AR monetization has been constrained by last-century models that work for web and mobile, but miss the mark terribly in VR/AR, where literally everything you see or touch can be monetized,” said Gaze Coin founder Jonny Peters. “We designed Gaze Coin to bridge the gap between the promise of virtual worlds and the ability for brands and content owners to capitalize on it, at the heart of how the medium is actually consumed.”
Peters integrated the Gaze Coin idea into a VR experience called Dream Channel VR as part of a proof-of-concept test. Dream Channel VR was featured at the Cannes Film Festival and will soon be available for Oculus Rift, HTC Vive and Samsung Gear VR. Dream Channel VR was created to demonstrate the idea that for VR/AR advertising to succeed, it must integrate seamlessly into the content, and become indistinguishable from the content itself.
“As consumers increasingly embrace VR and AR, they expect brands and media companies to be there with innovative content to capture their imagination.” Peters continued. “Gaze Coin provides the infrastructural backbone of the VR/AR creative economy, delivering the security, parity, exchange mechanisms and material incentive for all stakeholders to ensure creativity can flourish.”
Further information on Gaze Coin can be found on the official website.
VRFocus will continue to report on new developments and innovations within VR and AR.