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VERSES Reveals New VR And AR Economy Protocol Powered By Blockchain

The new protocol powers commercialized VR/AR technology that establishes ownership of virtual assets and connected consumer experiences.

Earlier this week VERSES showcased their innovative virtual reality (VR) and augmented reality (AR) protocol to power ownership, monetization, geolocation and tradability of digital books, holographic avatars and connected experiences. VERSES is a non-profit foundation that is working to create the universal protocols and standards for the next generation of the web. VERSES creates a new economy for tradable and transportable digitized assets that combines the virtual world with the physical, allowing the digital world to leap off the screen with interactions not seen before.

VERSES Logo

By partnering with Blockchain Industries, Inc, Decentra Fund and other parties, VERSES have been able to launch its private token sale internationally, which has already attracted more than $6 million (USD). Having assembled a number of high profile partners to develop on its protocol, with work being carried out to build integrations with the Unity and Unreal Engine to work with their VR and AR features.

“We have assembled a world-class team of staff and advisors from companies like Deloitte, Apple, Samsung, Google, Microsoft, Magic Leap and more to create a safer, smarter and more immersive new era of the web — ‘The Spatial Web’,” said Gabriel Rene, Executive Director of VERSES. “The next generation of augmented and virtual reality can now include authenticated location data, real-time mapping and physical asset tracking between specific locations. This technology powers a new era of fully interconnected and immersive interactive experiences that speak to consumers’ moods and thoughts.”

The technology that VERSES delivers works as an open standard, establishing a universal protocol that powers its key feature set for virtual assets across a multitude of applications. This includes usage in virtual commerce, interconnected VR spaces, smart city infrastructure and secure holographic telecom. With a goal of enabling developers around the world the chance to develop applications for entertainment, shopping, industrial, enterprise, government, healthcare, and other industries. VERSES are keen to provide developers with the tools needed to build a new standard for the web with exciting applications and share common VR and AR experiences across all types of devices.

“VERSES is the sandbox for the next generation of entrepreneurs that want to solve global issues, create new worlds and digital solutions to real world problems,” said Jay Samit, Independent Vice Chairman at Deloitte Digital and Advisor to VERSES. “By overlaying the blockchain on the physical world, you can go to a location and store digital objects there that are known to you as being official, real and allowed to be there. This new protocol creates order out of what otherwise would have been chaos.”

The new protocol from VERSES will be compatible with more than two billion connected mobile devices by 2020. As the company and their partners continue to develop the protocol, VRFocus will be sure to keep you up to date on all the latest.

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