Cappasity — The Virtual Reality Token
To begin the week we’ll be looking at a project that can help everyone pretend it isn’t Monday with the project Cappasity. Cappasity is a Augmented Reality/Virtual Reality (AR/VR) company that is focused on using the blockchain and tokens for 3D digital items. The company itself is already an established AR/VR company and is expanding into the blockchain realm with its token CAPP. We’re going to be examining why people are interested in CAPP, how the project functions, the token, and the project goals.
The answer of why people are interested in Cappasity boils down to the AR/VR market and the growth that its seen in recent years and its predicted growth going forward. Frankly put, many people believe AR or VR to be the future of how technology will progress thanks to science fiction and other media sources.
Companies like Google with Glass, Facebook Oculus Rift, and Microsoft with their HoloLens are all working on their own forms of AR/VR trying to get that early lead on their competitors in the industry.
Before going any further I want to make a distinction to prevent confusion. Augmented Reality and Virtual reality devices are very different. An augmented reality device is like Google Glass or the Microsoft HoloLens, it’s a clear visor that an individual wears and projects 3D images into the world around the user. I’ve had the pleasure of using a HoloLens thanks to a roommate’s senior project in undergrad and it’s amazing how far the technology is already along.
Virtual reality is a full helmet or visor so to speak that covers the user’s eyes and has a display inside the headset. The user is seeing a completely digital image. An example of that would be the Oculus Rift or what happens in the movie Ready Player One.
Another example of augmented reality would be the popular phone game Pokemon GO where Pokemon are “projected” out into the world and seen on a user’s phone. Needless to say their have already been some hits with this technology in the mainstream. Now, the AR/VR software market itself is expected to be worth a total of $35 billion by 2025 according to Goldman Sachs. The main market currently is with video games, but other industries have taken note of the power of AR/VR and how it can be used to display their products to customers to literally “show” them the product before they buy. Despite these positive projects, the AR/VR realm is still rife with its own issues that Cappasity is looking to solve.
The primary issues that is seen, even with tech giants in the scene, is that AR/VR products are not used regularly by those who own them. The main issue being there isn’t enough content available to warrant using it all the time.
Content isn’t easy to produce, especially with a new technology such as AR/VR. New people need to be trained and explore the technology to use it effectively. With that premium in people comes a premium in price. That cost is almost always pushed to the consumer too.
On top of the issues in price, new content is not produced quickly enough to keep up with the growth rate of the industry. That issue is caused by a couple of underlying issues. Those issues are incompatible platforms caused by the competition, low pay for content creators, and copyright issues. Touching on each briefly the incompatible platforms come into play with players making it so a developer is most likely to stick within one “ecosystem” for content development. For that I would think of Android vs iOS and how people are reluctant to switch.
Next we have low pay. For that it’s quite simple the platforms that do exist pay their content creators around half the sales price in royalties for any of the content they make. That issue is exacerbated by the final issue of copyright. We have spoken about copyrighting on the internet multiple times now in articles. The issue becomes even worse when dealing with a 3D digital object as opposed to an article or video. Cappasity believes their platform will fix these issues.
How does Capp Work
The Cappasity platform aims to fix the current issues within 3D content sales and creation with a new decentralized platform that makes use of smart contracts. The platform itself is marketed to Enterprise entities, developers, consumers, and small businesses. The content creators and distributors will be able to use the platform for sharing their content and will have the benefits of the platforms SDKs/plugins for content creation on their favorite engines and APIs for embedding content into websites.Users on the platform will be able to buy, sell, or even rent out content to those wishing to purchase. On top of those features, the blockchain is employed to store content and employ smart contracts to give creators ownership over their items.
The platform itself will have two layers beginning with the infrastructure layer. That layer will consist of the blockchain, the SDKs, and the decentralized storage. Next there is the marketplace layer that will have the sandbox area (used for content testing) and the content exchange. The root of the system are the SDKs, plugins, and APIs which will be used by creators to create content, distributors to market content, and users to view that content. Cappasity will be offering the full gambit here to create a one stop shop for anything AR/VR related. Furthermore, the CAPP token will be integral to the function of this platform.
The CAPP token is an ERC20 token that will be used as the medium of exchange on the CAPP platform. In other words, all buying, selling, or renting of 3D content on the marketplace will be performed through CAPP. Additionally, thanks to the Ethereum network, CAPP will be able to use the smart contract capabilities of the platform for their ownership and authentication features.
Cappasity has a Trello board for displaying their roadmap and goals. These goals are laid out on a month by month basis for 2018 and include two cards for Q1 and Q2 2019 too. The roadmap itself begins in April of 2018. For the month of July the team has several goals with the most interesting to me being the Cappasity iOS application beta and the Cappasity solution for copyright protection which is listed as the alpha stage. For June, the team has been working on plugins for various applications including Unity, Shopify, and PrestaShop and major releases in the coming months include the release of the copyright protection solution in September and a phone wallet for iOS and Android in October.
CAPP is currently trading at a price of $0.01 or 253 BTC or 0.00003484 ETH. The total supply of the token is 562 million and the circulating supply is 457 million tokens. Given those numbers the market cap of the project is $7.7 million and the volume on the token is $295K.
CAPP is traded on three exchanges and over 99% of the daily volume is relegated to one of those. Kucoin has the honor of 99.29% of daily volume across its two pairs. The top pair is BTC and with a volume of 60.8% and the other pairing is with ETH and has 38.49% daily volume. The other two exchanges are Cryptopia and IDEX and they account for 0.72% of daily volume.
Kucoin — https://www.kucoin.com/#/
To learn more about the Cappasity project please see the following links.
Website — https://ico.cappasity.com/
Twitter — https://twitter.com/cappasity
Whitepaper — https://ico.cappasity.com/whitepaper/
Thank you for reading today’s article covering Cappasity. The AR/VR space is one that I’m particularly excited about for video games but there are many other applications that can and will be explored. I think that Cappasity has the potential to be a part of that massive growth going forward!
I will be publishing an article tomorrow on NKN and on Friday covering NPXS. Follow me on here or on Twitter @thant1194 or on InvestFeed @thant11 in order to remain up to date on all of my articles as they’re released! I am not associated with the Cappasity project and am not a holder of their token. Thanks again! I have to return some video tapes.