SOLUTION immVRse

SOLUTION TO THE PROBLEM

Blockchain is at the forefront of a new digital revolution that has caught the world by storm. In essence, blockchain is a decentralised network and digital ledger for transactions, which can be programmed to store all types of valuable data and also has no single point of failure. ImmVRse will be powered by a web infrastructure built on the foundation of blockchain called Ethereum. This is a platform that allows smart contracts to be distributed as well as decentralised applications to be developed and run without the influence of a central arbitrator, downtime, fraud or any external interference. 

-CREATIVITY-(ImmVRse will not only provide a common platform for general viewers, advertisers and businesses, but also a community where members can interact, help and inspire each other to create some of the best VR content available online. By using the power of a decentralised network, we will create an efficient and self-sustaining ecosystem for our members.)

-CONTROL-(Control and the power of sharing will be shifted towards the community to remove centralised decision making and removing third party or middlemen from the workflow. ImmVRse will not act as a mediator or intermediary. Every job will use the functions of smart contracts, the parameters of which will be set by the users on both sides, e.g. brands and the content creators. The contract will be deployed on the blockchain and payments will be processed based on set deadlines agreed between parties. The system of contracting will therefore function similar to a peer-to-peer hiring system.)

-PAYMENT-( Payment is one of the biggest problems that blockchain will solve via this application. Firstly, there are no high transaction fees, requirement for bank accounts or any other restrictions for users. Using ImmVRse tokens, it will take seconds to send and receive payments anywhere around the world without paying a high processing fee to a bank or a third party money transfer. This will open opportunities to millions of content creators in many countries where the citizens prefer using cryptocurrencies due to geographical and administrative restrictions imposed by their country’s legislative authority. Additionally, the users will be moderated using a sophisticated autonomous ID verification system. Once the users are verified, the payments will be made using ImmVRse tokens.)

-REVENUE-(ImmVRse will allow creators to attract lucrative contracts from employers, as well as creating customised content for companies and high profile global brands. Besides, the system has been designed to not only reward creators, but also the VR content viewers who will be incentivised using tokens for interacting with the application. Additionally, high-value creators will pay a monthly fee to the platform for maintaining their premium status. By creating a balanced ecosystem, the platform will aim to become one of the largest video sharing platform, thus attracting hundreds of companies around the world. The combination of all the above will contribute to ensuring the rapid growth of users and content. This in turn will attract advertisers to invest into the platform to the benefit of all within the ecosystem.)

BUSINESS MODEL

TYPE OF BUSINESS

ImmVRse is a mix of B2C and B2B, connected & decentralised blockchain VR video-sharing platform, where VR content producers are able to showcase their talents to a broad audience. Brands can hire content producers and also directly advertise to viewers on the platform. Viewers are able to interact with the community by liking, commenting and sharing videos, in addition to receiving rewards as an incentive.

TARGET MARKET  

Target audience for ImmVRse is primarily those who are involved or would like to be involved in VR content production and the age range is between the ages of 16 to 45. The corporate target audience varies from small businesses, start-ups and medium enterprises to large consumer brands and internet personalities.

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Vision immVRse

ImmVRse is a decentralised website, iOS and android application which utilises a standard Ethereum based ERC20 token to create its own eco-system. ImmVRse will be the first decentralized and distributed digital. video platform that will allow content creators, brands and advertisers around the world to collaborate and produce the best of what Virtual Reality has to offer. ImmVRse will focus primarily on VR/AR/Mixed reality and is easily scalable to embrace other forms of media production such as, 3D animation. Currently, there is no other platform providing the ability to showcase VR content and allowing direct employment as a result.

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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