We are living through extraordinary times, not least the beginning of the third industrial revolution.
The first revolution of automation started in the UK, the second, Internet and information, in the USA, but the third, blockchain and transactional is, by its very nature, global and omnipresent. At the same time we are reaching Singularity: when computers will be able to match and exceed the functions of the human brain.
As the best-selling author and expert in the cognitive revolution, Yuval Noah Harari, writes, “Intelligence is de-coupling from consciousness. Non-conscious but highly intelligent algorithms may soon know us better than we know ourselves.”
What the Internet did for the way we communicate, the blockchain is expected to do for the way that we transact.
As the UK Government Chief Scientific Adviser said recently: “[Blockchains] have disruptive potential beyond innovation in products, services, revenue streams and operating systems within existing industry frameworks. They have the potential to disrupt the whole economy, and society.”
The first industrial revolution led to a huge shift in the way that we work and new jobs were created and old ones lost. The current revolution is likely to do the same, freeing people worldwide to expand their opportunities.
Technology has reached a point where game developers can cost effectively create convincing and engaging virtual worlds with thriving and dynamic communities. With fast improving AR, VR and AI technology these worlds are set to become even more immersive and pervasive.
Virtual Worlds have become the new frontier.
People will be able to explore new lands, build homes, create work, and deliver services to others within those worlds. With the advent of the Blockchain it is now possible to create an economic platform for these worlds.
Players are already spending significant time and money immersed in niche universes where they lead alternate lives surrounded by other like-minded players. Year on year the number of users and game-players has increased, providing the opportunity for these communities to grow at an exponential rate.
Virt-U is the first company in the world developing a simple to use platform to power delivery of global commerce in the virtual world. The team is formed of experts and innovators behind one of the world’s first global licensing and asset management platforms for digital entertainment.
Virt-U is now building its decentralised protocol for virtual world gaming. Also joining the team are blockchain and AI experts, along with game development veterans with decades of experience building games companies and virtual worlds. Virt-U is a decentralised, blockchain-based platform on Ethereum.
Virt-U’s virtual world platform gives developers and gamers a trading platform to securely register, track and transfer virtual assets.
Game developers benefit from highly motivated players, resulting in increased organic growth, more frequent player sessions, increased user retention, engagement and most significantly, increased monetisation of all types of users.
Gamers, for the first time, will have the opportunity to leverage their in game activity into real world financial gains on a secure and trusted platform.
With tokens an intrinsic part of the platform, Virt-U’s Network token (VRT) will be required to perform all transactions on the Virt-U Network such as registering, listing, selling or even renting an asset. These network transaction fees will be used to fund the development, promotion and maintenance of the network.
VRTs are also used to verify the identity of participants such as game developers and creators. VRTs will be implemented as a token in a smart contract on Ethereum (ERC20 token standard) and will be required to power the Network, including the Alpha release.