Developers Reality Reflection announced its intention to use Cryptocurrency to power its upcoming augmented reality (AR) app Mossland at the start of this year. The developers have now revealed they are partnering with a Korean Blockchain company to take the concept further with custom blockchain platform Moss Chain.
Earlier this year reality Reflection successfully raised over $5 million (USD) during a pre-ICO for its location-based AR real estate app, Mossland. The app uses ‘check-in’ technology similar to apps like foursquare to let users view, buy and sell virtual real estate, with even famous landmarks such as the Statue of Liberty or the Eiffel Tower potentially up for grabs.
This system requires a fast, reliable connection between players to make sure any transaction, such as a sale, is secure and quick. This means that using public, open Blockchain platforms is not an option, since they can be subject to performance problems. Enter Moss Chain, created by Korea Blockchain Association.
Moss Chain will allow Mossland to use a proprietary blockchain that guarantees stable performance and allows users to create and sell virtual assets through an open market. The developers at Reality Reflection and the team at Korea Blockchain hope that Moss Chain will become a platform for future development of other AR apps and videogames.
“Moss Chain is a very exciting technology that stands to dramatically reshape our increasingly digital world. We’re now building a completely new ecosystem that will inspire creation of new creative projects like Mossland and change the gaming market,” said Louis Jinhwa Kim, Blockchain Advisor at Mossland, Co-founder and Director at Korea Blockchain Association, Co-founder at Korbit.
Other developers who are attempting to use Blockchain and cryptocurrency to power a new type of AR application include the Reality Gaming Group and their app Reality Clash, a first-person shooter (FPS) that also contains a cryptocurrency-powered arms trade for players to get involved in. A VR advertising platform for cryptocurrency called Gaze Coin is also undergoing development.
Further news on the integration of AR and blockchain will continue to be reported here on VRFocus.