The world has met with another force: Virt-U, a platform that will revolutionise the
Virt-U is a decentralised blockchain-based network that allows users to register, exchange
and exploit virtual goods whether they are based in virtual reality, augmented reality,
virtual gaming or more.
The Virt-U network will be the virtual trading platform that enables users to securely register,
track and transfer digital gaming assets. The initial emphasis is on providing users with assets for
the games they love to play, however the platform will soon be developed into a virtual world
marketplace of every kind, where users can register, develop, buy, sell or trade any form of virtual
goods, with the revolutionary features of the blockchain.
Behind Virt-U, is a multidisciplinary team of experts possessing years’ of experience in different
areas of the business such as game development, global licensing platform deployment for
entertainment, alongside blockchain and AI expertise and financial rigour.
The team is made up of Ron Dimant and Mark Taylor, two game development veterans with decades
of experience building games and virtual worlds; Daniel Doll-Steinberg and Stephen Precious and
their team, including Andrew B Coathup, who together worked at the vanguard of revolutionising
digital licensing for movies, music and games for more than 10 years; Anish Mohammed a blockchain
and AI expert; and advisors Jez San OBE and Ian Livingstone CBE whose expertise and status within
the gaming and for Jez, the blockchain world, is renowned. Also joining the board is Frederic
Chesnais of Atari, and Mark Dochtermann, World Changer at Google, who created pioneering
location based mobile game Ingress as part of Niantic Labs, maker of PokeMon Go.
Using Virt-U, game developers can tokenise virtual game assets, allowing these assets to be tracked
and traded using the security of the blockchain. Game developers can distribute assets to gamers using
mechanisms such as selling assets in online or in-game stores, or drop assets in-game. Gamers can
then offer assets in marketplaces for purchase by other gamers.
The Virt-U Network Token (VRT) is a utility token and is used as the gas for the Virt-U Network.
Payments for assets, developer, creator and network fees are paid in VRTs. Being built on public
Ethereum, assets are tokenised as ERC20 tokens, allowing use of existing wallets. Metadata for
assets is stored off-chain in decentralised storage, with only the hash stored on-chain. Developers
are provided an easy to use plugin. Blockchain is abstracted for gamers.
In a world where people are constantly choosing to spend more of their time and money in the
virtual world – leading alternative virtual lives such as pilots, chefs, professional football players, etc.
– the need for greater virtual opportunities is increasing daily.
Although virtual worlds already exist, they are currently being held back by current technology and
the marketplace. However, with the advent of blockchain technology, for the first time a framework
to allow us to unite the virtual world with the physical world was created.
And as a consequence, the Virt-U network will be able to empower developers – whether independent,
medium-size developers or developers who simply need the platforms – to create these virtual worlds
in which users can create and commercially exploit virtual goods.
At the most basic level, Virt-U is enabling a world where the things you learn and create in the virtual
world are as valuable as they are in the physical world.
What does this mean? It means that all the unique assets and objects users create in the virtual world,
can be then traded or contracted out, to turn these virtual world assets into real world income.
This will completely turn the concept of “work” on its head. Gone will be the days where working will
only mean going to a physical or conventional office every day, but more importantly, working for an
employer to earn a living! Not only could you be working from the comfort of your home, but you will
also be earning a living to improve your skills, whilst doing something you really enjoy and suits your
skills sets and working goals.
New careers will be enabled through virtual and augmented worlds, as the need for jobs such as a virtual
architect creating buildings, real estate developer, engineer, musician, film producer and more, will now
be able to increase over time.
This world will create the opportunity for people to continue honing their skills, build amazing assets
both individually and in teams, and continue excelling at what they do best.
As people increasingly support the Virt-U Protocol, it will help to democratise the virtual world,
allowing more and more people to participate with others to build and trade assets in the virtual world.