VERSES has revealed to the world a new addition to their protocol that will allow ownership of virtual assets and spaces through a blockchain backbone. This protocol, which they prefer to refer to as Web 3.0, will power ownership, monetization, geolocation and tradability of digital books, holographic avatars, and connected experiences.
VERSES, a virtual economy protocol designed to enable Virtual Reality Commerce (vCommerce), has revealed that this new Virtual and Augmented Reality (VR and AR) protocol will be a meeting ground for the virtual and physical spaces to meet and transact business effortlessly, creating a decentralized marketplace. With this, objects owned in the real world can be sold and bought in the virtual spaces.
With this development, VERSES hopes that blockchain technology will be to 3D spaces what proprietary address is to websites. They intend to use this technology to identify specific 3D areas in augmented reality, which will, in turn, allow people to claim ownership of their parts in the virtual world.
According to Gabriel Rene, Executive Director of Verses, VERSES will let its users develop on its protocol.
“The current web lets us as users move between pages. With Verses, every building on the planet becomes a spaces domain. A 3D space. Smart contracts and artificial intelligence let you create a programmable space for each millimeter of the planet. Each space is a channel. The content in a kindergarten is permission for what is allowed inside a school. The rule set can be dynamic. We have re-created web protocols for spatial interaction.” He said.
VERSES previous protocols were known to include supports for standard gaming, mobile AR and VR development and distribution platforms. They previously had Web 1.0 and 2.0, but they believed blockchain had introduced a useful set of new technologies which they could tap into to open up an array of new application opportunities.
“We were deeply involved in pioneering work in both the Web 1.0 and 2.0 eras, but even with all that, we feel that blockchain is introducing the most exciting and useful set of technologies to date, that open up vast new application opportunities. VERSES uses blockchain technologies to enable the next generation of Virtual and Augmented Reality applications to be interoperable, interconnected and commerce-enabled. VERSES protocols allow our collective information, imaginations and the physical world to interact together. We think this is the basis for Web 3.0 or the Spatial Web”, according to VERSES Team in an interview with Isabella Lopez.
VERSES is a virtual economy protocol and immersive design framework for secure authentication and monetization of any virtual element. Examples are assets, objects, avatars, environments from within augmented, mixed and virtual reality experiences utilizing Blockchain technology.
By utilizing the Blockchain and partnering with other, other companies, VERSES has been able to raise funds amounting to USD 6 million at their private token sale. Their token will be available for public sales at its soonest. VERSES will empower developers and users from all over the world to play, learn, work, explore and design a new virtual economy.