VISION
We strongly believe that Virtual Reality will play a significant part in our lives during the next decade. This
will come in many different forms and affect a wide range of business segments. Already, we are seeing
huge transformations in the medical, gaming, manufacturing and educational sectors where substantial
investments have been made in both hardware and software. The demand for specific and quality
content unlocks opportunities for creative, collaborative and contribution of VR production, thus
gradually revolutionising the virtual reality industry as a whole.
We are confident that blockchain will provide the chance to create a more secure and transparent
platform for a new generation of VR content creators, permitting them to showcase their work to a global
reach of businesses, from start-ups all the way up to big corporations. Smart contracts in conjunction
with cryptocurrency will inevitably improve upon the current payment methods by adding the missing
layer of trust and drive real values for all members of the Eco-system.
Our long-term vision is to become one of the largest decentralised creative platforms; a self-sustaining
and autonomous network that utilises a personalised cryptocurrency as a tradable commodity
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Virtual Reality (VR) is the umbrella term for all immersive experiences created using real-world content,
purely artificial content or a hybrid of both. Within this, there are 4 core types:
- 360° Video
360-degree videos are video recordings where a view in every direction is
recorded at the same time. Real world content is filmed using an
omni-directional camera or a collection of cameras, to allow viewing from
every angle.
- Computer Generated VR (CGVR)
Computer Generated Virtual Reality (CGVR) is essentially the
synthetic version of a 360-degree video. Immersive content
is created using computer rendered images.
- Augmented Reality (AR)
Augmented reality (AR) is an overlay of content on
the real world, but that content is not anchored to
or part of it. The real-world content and the CG
content are not able to respond to each other.
- Mixed Reality (AR)
Mixed reality (MR) is an overlay of synthetic
content on the real world that is anchored to
and interacts with the real world. The key
characteristic of MR is that the synthetic content and the real-world
content are able to react to each other in real time.
MARKET SCALE
FORECASTS
Virtual reality is currently estimated to be a $1.6 billion market, of which most of the HMD (head
mounted displays) are smartphone-based devices such as Google cardboard, due to lowers costs and
availability. Although it compromises quality, price point is a very important factor for VR end users. VR
headsets such as Oculus, Vive and PlayStation VR, three of the biggest current players on the market,
will account for an estimated 3 million units in 2017 and will increase to 5 million in 20185
.
Research conducted by business Insider shows positive forecasts for virtual reality. BI Intelligence
(2016) states that the adoption of VR and AR headsets will grow slowly after the launch of mobile and
PC VR, followed by mainstream adoption of stand-alone headsets6
. While research conducted by
Goldman Sachs shows exponential growth, as the total revenue for VR software industry will grow from
$28 billion in 2020 to $79 billion in 2025, as the combined hardware and software revenue will grow to
$90 billion7
.
In the research paper, Boland (2016) purports that beyond gaming, the VR entertainment industry will
start developing once demand for VR headsets increases. Advertisements featured in virtual reality will
have better view through rates. That is why many other industries are starting to adopt virtual reality,
including travel agencies, e-commerce merchants and blue chip brands. According to research data by Tractica (2016), hardware and content companies will be banking on the
strong consumer interest in Virtual Reality. Consequently, experts predict that over 150 million headsets
will be sold between 2019 and 2020. With the ever-increasing use of Virtual Reality technology, it’s only
a matter of time before it becomes a common household item.
Virtual reality content research organisation Superdata Research (2017) concludes that worldwide VR
revenue will reach $28.3 billion, with an indication that the growth will start picking up by 2019. VR
consumer software and services sales will further fuel this growth by $16.2 billion.
As the demand for virtual reality and head mounted display surges,
the subsequent demand for content will also increase. This is where
ImmVRse steps in as the platform will help sustain the growth of VR
content development in marketing, entertainment and media
industries. The content creators in ImmVRse will offer an array of
VR content types, such as entertainment videos, VR vlogs,
corporate introductions, VR music videos etc.
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