ImmVRse Blockchain-Based VR Platform Revolutionizing the Future Development of the Industry

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Virtual Reality (VR) and other kinds of virtual technologies like Augmented Reality (AR), are widely considered the next frontier in Information Technology revolution. According to a survey by Transparency Market Research (TMR), the VR market is going to virtually explode in the near future with over 278-fold increase expected for the then-fledgling industry between 2015-2024. The overall market capitalization will increase from just $147 million in 2015 to a huge $41.04 billion by the end of the said time frame.

As the VR market expands and more and more users get involved in it, there is a need to ensure quality development and promotion of VR related content in the world. ImmVRse, a blockchain-based VR content sharing platform is going to use the power of blockchain and community-driven approach to determine the value of the published VR content in its system. The platform was created to help develop a strong community of VR content creators constantly interacting and helping each other out while producing some of the most innovative VR content out there. The idea is, in part, inspired from Youtube but has a different VR-centric approach specifically built for the futuristic platform.

VR Content Classifiers

The VR content creators come from different backgrounds and have varying levels of expertise so it makes sense to sort them into different categories or tiers. Based on the performance of VR content creators within these tiers, they are given monthly awards based on the popularity of the content they post online in the ImmVRse platform.

Viewers are then able to vote for their favorite videos from varying categories and the winners will receive a generous share of ImmVRse native tokens and have the potential to advance to the next tier in creator rankings on the platform. The monthly awards scheme programmed directly into the Ethereum blockchain as part of the new platform’s coding through smart contracts.

Endorsements

Endorsements are another way through which VR content creators can rise in the tier system in place in ImmVRse’s system. The endorsements come in the form of badges and they are given out by companies and brands and they recognize these creators for successful completion of business-projects like advertisements, etc. Creators receive these badges upon completion of project receipt of earned tokens.

Since ratings are often subjective and there are varying levels of difficulty involved, the complexity is factored in, when the rewards are dispersed by the system. Overall, the creator-tier system is a comprehensive measure of the ability, skills, and deliverance of the VR content creator. While a lot may need improvement as the system goes into place, it is a great way to incentivize talented creators in the new space.

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