Our vision: A new monetization model for virtual worlds
In VR/AR worlds, content isn’t triggered by physical touch like clicking a mouse or tapping a screen. Instead, it is triggered by gaze control: when a user looks at something for a period of time. Gaze Coin uses the concept of “gaze” to create a unit of exchange between content owners, advertisers and users measured. By charging advertisers for the time users spend in genuine engagement, content owners are incentivized to provide the most engaging content.
The platform’s unit of currency is Gaze Coin’s own Ethereum-based token, GZE. This token will be available for brands, virtual world creators and consumers to buy and sell in-game, and to exchange for Ethereum tokens.
As consumers increasingly embrace VR and AR experiences, they expect brands and advertisers to be there, with innovative content to capture their attention and imagination. The Gaze Coin platform is a seamless solution that provides advertisers and VR/AR content owners/creators with the necessary infrastructure to operate in virtual worlds. Gaze Coin’s focus on handling transaction tracking and micropayments means that brands and advertisers can focus on providing engaging content that captures mindshare and deepens brand affinity.
As VR/AR continues to mature, it is critical that we do not limit the medium’s potential by adhering to outdated monetization models. Instead, wVirtual and augmented reality is an industry poised for growth, with estimates of market value of up to $183B by 2025. While consumer attention is firmly focused on headsets, the biggest challenge isn’t in hardware — it’s in the monetization of the in-world experience, and in particular, executing in-world micropayments. Gaze Coin exists to bridge the gap between the promise of VR/AR and the ability for brands and content owners to capitalize on it.
A new monetization model for VR/AR
VR/AR won’t grow based on forecasts, staffing and hope alone — monetization is critical to its success. But right now, we don’t have a universal ad-based, ad-driven mechanism for driving content inside VR and AR.
As a result, VR/AR content has been monetized in one of two ways: either with up-front payment for a la carte consumption, or on a content subscription basis. But business models that work in web/mobile do not work in VR/AR; it’s a fundamentally different medium, because unlike a website, literally everywhere you go, look or touch in VR and AR can be monetized.
This new monetization model creates significant challenges for VR/AR content owners/creators, advertisers and users. A user might easily engage with 10 pieces of content during a brief visit to VR/AR experiences, environments and worlds; meaning that there could literally be millions of transactions to record, track and make micropayments against. And in VR/AR, where content is frequently augmented or altered, it is challenging to accurately attribute exposure and credit to owners and creators. Further adding to the complexity are the millions of participants in the transactions — advertisers, content owners, creators and individual users.
Gaze Coin: making virtual world microtransactions easy for brands and advertisers
The Gaze Coin platform was specifically designed to solve the challenges of the monetization of virtual worlds, bridging the gap between the promise of VR/AR and the ability for brands and content owners to capitalize on it.
The platform is a blockchain-enabled solution that uses patented technology, securely storing ownership and transaction data about content assets in virtual worlds, tracking and managing micropayments associated with content consumption.
We must seek to create a monetization model for VR/AR that is as revolutionary as the technology itself.