Cryptocurrency such as BitCoin and Ethereum have been attracting attention recently, partially due to the huge rise in the value of BitCoin. One company also hoping to benefit from cryptocurrency is Gaze Coin, which is now introducing Celebrity Coins to its blockchain-powered virtual reality (VR) platform.
Gaze Coin launched its initial coin offering (ICO) at the end of November, 2017. The Gaze Coin platform uses eye tracking to calculate the amount of time that users of VR and augmented reality (AR) spend looking at certain locations, enabling this information to be converted into a monetary value, useful for placing advertising content within AR and VR. Advertisers are charged for the time, while content owners are paid and players can be rewarded.
Now Gaze Coin are planning to release Kim Kardashian West’s KCoin from the app KK Goes to Hollywood into its platform. The app has already proved popular, with over 42 million downloads in addition to commercial partnerships and has generated over $200 million (USD) in revenue. The Gaze Coin platform allows content creators such as the developers of KK Goes to Hollywood to create their own unique coins.
Jonny Peters, founder of Gaze Coin, says: “For the first time the Kardashian’s have been toppled in the Google search rankings, and by Bitcoin. The idea of linking the two might seem far-fetched, but we see it as the next step. If the app’s KCoin became a cryptocurrency it would enable brands to track and reward players for influence and advertising, as well as the purchase of real-world goods in virtual stores. So we’re doing it.” he commented, “We wondered, what would happen if Kim Kardashian West created her own VR neighbourhood, complete with streets boasting stores and venues she loves and more importantly, brands that she endorses?” says Jonny Peters. “The impact would be enormous – not only for Kardashian West’s many followers, or her bottom line. It would also break through one of the biggest barriers that faces cryptocurrency: mass adoption by the general public.”
VRFocus will bring you further updates on what is going on with Gaze Coin’s development as a platform as we get them.
UPDATE: The ICO was offered on 10th December 2017, not November as stated in the article.