Live Planet, a media company, has announced the launch of a virtual reality blockchain network. Called the Virtual Reality Blockchain Network, it is being described as the first project of its kind to reach the market. A few months ago, a similar approach was observed with ConcertVR’s ICO, which applied related technology for live music experiences.
This network brings together two major disruptive technologies of our time—virtual reality (VR) and blockchain. The team behind the project aims to give content partners the ability to present podcasts and other media formats in highly immersive, VR-native ways.
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What do we know so far?
According to a press release, the new network was built using VideoCoin technology. VideoCoin is a blockchain platform focused on media infrastructure that the company has been developing for some time.
Content creators using the network can add stereoscopic 360-degree capture and streaming to their workflows. The project team says creators will be able to stream to platforms such as YouTube and Oculus, in addition to other VR distribution channels.
Who else is involved?
Live Planet confirmed it is working with a range of partners, including influencers and experts in podcasting and blockchain. These partners are expected to reach global audiences.
Estimates indicate that this new technology could be adopted by up to half a million blockchain enthusiasts. Even content providers that do not focus on blockchain or cryptocurrency topics can use the VR blockchain platform to boost audience engagement through immersive experiences.
Partners named in the announcement include Decentralized Films, Bad Crypto Podcast and BLOCKTV. Joel Comm, co-host of the Bad Crypto Podcast, described the initiative as an “opportunity to revolutionize how listeners learn about blockchain.”
Is there an ICO or tokens?
VideoCoin’s ICO began in early 2019. At the time of reporting, the project’s roadmap lists a token distribution unlock date as “to be determined.” The initial public availability of altcoins for this network had originally been scheduled for May 2019.
The VideoCoin white paper explains how the technology functions. According to the ICO site, more than 105 million tokens were sold in the presale phase. The total planned token supply is 265 million, and the initial circulating supply in the first year was capped at 125 million tokens.
Virtual Reality Blockchain Network summary
There are clear signs that the virtual reality blockchain network is now ready to launch, although the rollout experienced delays related to the ICO and adjustments in token management. Despite those setbacks, the strong list of partners and the platform’s VR-focused capabilities suggest the project could still achieve meaningful adoption and provide immersive new distribution options for media creators and publishers.