Virtual Reality has yet to fully break into mainstream entertainment. Terra Virtua is a subscription-based service and marketplace that will give users full access to a growing library of content for VR and AR on the market today.
Some are labelling Terra Virtua as ‘Netflix for VR’ allowing Oculus Rift owners to enjoy an ever growing library of VR and augmented reality (AR) content, including videogames and experiences built on blockchain technology. The platform even has plans to include mobile and possibly even PlayStation VR in the future, should the initial lunch prove well.
Terra Virtua is currently scheduled to launch in September of 2018, and will include a developer incubator to help support studios to produce more VR content. Terra Virtua will also be making use of a cryptocurrency that the service is calling Terra Tokens (TVT) that will allow users to buy and sell games, events, and services, as well as own a dedicated zone within Terra Virtua when the platform goes live.
The blockchain basis for TVT ensures complete accuracy and transparency for earning and spending the token, as well as a global currency and pricing model inside the Terra Virtua platform. Pre-sales and an initial coin offering (ICO) for the TVT token will establish the currency and funding base for Terra Virtua.
Terra Virtua boasts a team of video game industry veterans and blockchain experts including: CEO Gary Bracey, a BAFTA-nominated games industry veteran, and a current member of the Academy; CTO Kish Hirani, former Head of Developer Services for Sony Playstation/Playstation VR; COO, Doug Dyer, who worked at Microsoft Game Studios and founded mobile games divisions for Warner Bros. and THQ; blockchain advisor Sergiy Khandogin and former Electronic Arts executive Keith Ramsdale.
Terra Virtua CEO Gary Bracey comments: “I have been involved in producing and developing video games for over 35 years and the industry has been talking about VR for 25 of those years. In all that time, nobody has cracked VR with a mainstream product. This is partly because the hardware has historically been difficult to set up, but mostly because the experience isn’t as good as regular 2d games. The gameplay is not as varied, it’s not as easy to play with your friends and it doesn’t offer enough to come back for more. We are going to change this with Terra Virtua, by offering an entirely new type of entertainment platform.”
Pre-sales for the TERRA Token, /TVT, will begin on March 26, according to a press release. Tokens will allow users and content creators to buy and sell games, as well as in-game items, events and services. Content creators will be paid in relation to audience consumption of their material, while the social experience allows players to collaborate around the games they play.