Dvision & Shrimp AMA Recap
AMA with the leading domestic crypto influencer- Shrimp🦐
The Dvision Network is a new VR content ecosystem that utilizes blockchain technology. It aspires to provide the best user experience by utilizing the advantageous features of Blockchain and VR technologies, and by creating an unprecedented and inclusive virtual ecosystem for businesses and designers.
Hello Dvision Community,
The Dvision Network participated in an AMA with one of South Korea’s leading crypto influencers — Shrimp in order to raise domestic awareness about the Dvision Network community. The members of the community were brilliant and amazing, and the questions that they asked were also really meaningful. Thus, we have sorted out the Q&A session in this recap. Make sure to check it out!
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Moderator: Please briefly introduce the project and yourself!
Brian Hi my name is Brian and I am the Head of Business Development at the Dvision Network. I’m pleased to be here with you. I hope that this AMA session will go beyond all of our expectations. First and foremost, the Dvision Network is essentially a blockchain-based VR content ecosystem, which also powers an NFT marketplace within virtual reality. The Dvision Network presents a new virtual reality world where humanity can lead an affluent life at the very center of the ICT-based Fourth Industrial Revolution. In fact, to be more precise, Dvision has three important platform pillars which can be briefly explained as an NFT marketplace (VR-Market), where you can also create and trade unique items; Tailored Virtual Reality (VR-Space), where you can customize and acquire virtual space; and a Collection of VR-Spaces (VR-City), which is a public VR world where you can enjoy the metaverse with other users. Having said all this, now we can proceed with the pool of questions!
Q: I understand that the concept of the VR-City is virtual space rental. I think the idea of owning a certain area combined with blockchain technology is novel. However, while the primary problem is how customers will be able to use the space, I am also curious how you will solve the problem of marketing your virtual space. In the end, no matter how good the product is if you can’t use it, it has no value. Additionally, I wonder how you’re going to attract partners in the future, besides NINE VR, which is your initial core partner.
Brian: First of all, the VR-City is a public VR world, and the space that you can rent is associated with VR-Space. Also, yes, while the idea itself is quite revolutionary, it’s not completely new or undiscovered. A few other projects like Decentraland and Sandbox have been experimenting with this concept for 2–3 years already. At the initial stage, we will be powered by the VR companies we’ve already partnered with to back up our content ecosystem. This will present us with quite a diverse portfolio of content, consisting of games, theme parks, education, and many other pieces of content. With the passage of time, we will keep on establishing partnerships with other content-making projects in order to enlarge our portfolio. Regarding marketing, which is essential for us to drive the adoption of the Dvision Network’s platform by users, we will be enlarging the size of our community by involving all of our strategic partners. We also plan to be part of bigger gaming communities, like BGA (Blockchain Game Alliance), which will increase the number of Dvision Network followers. This will be a very important pillar for the successful expansion of our content partner ecosystem.
Q: As far as I know, you have signed a partnership with Elrond, a software project that conducted the Binance Launchpad. How will the Dvision Network collaborate with this partner?
Brian: From the technological perspective of our partnership with Elrond, we are exploring the opportunity to migrate to Elrond Smart Accounts. If that won’t pose long-term issues, we would be happy to move to that stage one day. However, so far, we will be adopting Elrond Gold into our payment system. Participants will be able to use it as a means of payment within our platform economy. From the business development perspective, we will be conducting large blockchain-related events, such as Deconomy, Consensus, or UDC completely virtually in our VR metaverse. There we will be providing unique advertising campaign opportunities for Elrond during those events. They will also be introduced to the audience as one of the main strategic partners of Dvision, will have a customized and target-oriented Elrond booth, and have access to banner ads. Apart from that, we will collaborate on many other things. In fact, we have recently done a launch pool together where the users staked their Elrond Gold and got DVI tokens with 450% APY.
Q: Recently, the non-face-to-face market has been growing due to COVID-19. I think this is good for Dvision. People will enjoy more content through VR instead of actually going somewhere. After all, it’s not just about how much quality content you have, but also what benefits are actually given to VR content developers. I wonder if the Dvision Network has any plans to raise funds to support developers.
Brian: First and foremost, so far the content side has been developed by our partners, and initially it will only be provided by our partnering companies. However, soon we will be happy to welcome those who are ready to deliver us excellent content and power our VR metaverse with unparalleled pieces of content. They will surely be rewarded. However, what kinds of rewards developers can receive and the exact compensation system has not been established yet. We are definitely planning to do so.
Q: There is a space called VR-CITY in the Dvision Network. Is this virtual real estate? Recently, I saw that Sandbox is selling game-related space, and I wondered if Division has a plan to sell virtual space as well.
Brian: That is a great question that is being carefully considered by the Dvision Network. Choosing the right concept between “Space Renting and Space Acquisition” is not easy. Space renting would be more affordable, but may not be a good, long-term solution because the customizations made by the user will eventually disappear when their renting period is over. However, it would motivate users to stake their DVI tokens from a long-term perspective. On the other hand, “Space Acquisition” is a more tangible thing, which is what they’re doing in the Sandbox. They are selling land to end-users, who can further claim full ownership over that property, known as “digital real estate”. Both concepts have their pros and cons, and the Dvision Network is meticulously weighing them in order to make the best decision.
Q: There are already many VR-related projects, the best example being MANA from Decentraland. How is Dvision different from other projects in the current VR market?
Brian: In fact, most of our users may think of Dvision as being no different from Decentraland or the Sandbox, but there are certain differences. First of all, the Dvision Network will power different payment units within its token ecosystem, which will allow a lot of users from the crypto space to be involved in Dvision’s economy without any constraints. This will also positively affect the DVI token’s value. Second of all, the Dvision Network’s team is experienced in VR technology and has a solid background, which can be proven by the successful chain of stores opened by the partnering companies, around 30 stores nationwide. On top of everything, the Dvision Network has adopted a totally new level of utilization for the VR concept. We plan to adopt unparalleled large-scale events, which were previously not done by any other crypto projects. For example, we will enable many blockchain-related events, such as UDC, Deconomy, or Consensus, where users can participate without any time or space restrictions. Entire events will be held within the virtual reality space.
Q: I’m looking forward to the VR-Market which will be released in the first half of 2021. What is the user-to-user transaction fee within the VR-Market? I would like to know how to deal with the transaction fees.
Brian: Certainly, we are planning to burn and buy back a certain portion of the tokens, however, the exact plan has not been sorted out since we’re still in the initial stage. The transaction fees, prices, and other staking-related information will be announced along with the launch of the VR-Market.
Q: Starting the trade of goods in the VR World seems to be the key growth engine for the Dvision Network. Is there a selling point that will make users want to buy goods at the VR World instead of existing shopping malls? I wonder if there is any marketing strategy for this.
Brian: I hope you have heard of the concept of “gamification,” which most companies are trying to utilize in order to create new ways to drive sales. For those who are not familiar with the concept of gamification, it basically means applying game-design elements and game principles in non-gaming contexts, such as making shopping feel more like a gaming experience. A gamified experience is an essential concept for both VR-related and non-VR companies. Thus, if we keep working on integrating shopping malls, increasing the visibility of those malls by bringing in plenty of users, and adding them to our payment system, the companies will also start merging with our platform. They want to secure as many selling points as possible. However, I wouldn’t be too concerned about the presence of a shopping mall in our metaverse since it’s not the only pillar of our ecosystem, but one of many.
Q: I wonder how exposure to the Dvision Network differs from current digital media ad exposure, and whether VR technology is applied to more VR network-specific advertisements.
Brian: It’s quite similar to the previous question. It’s all about the gamified experience. We expect that VR-specific advertisements will also be much cheaper, more efficient, and more effective than traditional marketing tools.
Q: If we produce VR content, we have to be aware of copyright problems. How do you plan to address the issue of intellectual property infringement, even with just a simple color change?
Brian: Well, that’s the brilliance of blockchain technology, isn’t it? We use the ERC721/ERC1155 standards in order to power our NFT ecosystem currently. We’re also exploring other standards for better UI/UX, such as the diamond standard on Ethereum. These NFT standards will be the technologies that will make sure that your copyright ownership and your IP are not infringed upon. If you want to know more about how the NFT ecosystem works in the Dvision Network, make sure to check out our blog.
Q: I think VR content or advertising can be done on the users’ own land as they’ve done on Sandbox. If my VR-City content is successful, can I get a royalty fee? Also, I wonder how you will filter out cruel or explicit advertisements or content.
Brian: If someone decides to run an advertisement on your building or land (which is your VR-Space, not a City), you will certainly receive compensation for the ad placement services. Thus, those who are interested in your services will have to pay a royalty fee payment, which will be sent to your wallet automatically. As for your second question, the criteria for spam filtering are currently being reviewed to find the best solutions. For instance, property owners who receive a request for ad placement can set acceptance criteria and the minimum DVI token compensation level. Advertisers will have to give payment in DVI tokens in order to place their ads on the property. Due to the provided compensation and set acceptance criteria, explicit or spam advertisements will be significantly reduced.
Q: Although COVD-19 has been terrible in a lot of ways, it seems to be an opportunity for VR and AR markets as individuals have spent more time on non-face-to-face activities. However, it seems that we cannot implement satisfactory VR and AR yet. What are your current development plans and future goals?
Brian: We're in fact in the phase of developing the VR-Market, which is the NFT marketplace in our metaverse. However, as I have mentioned our partner companies are powering us from the content side, and have a product that will be further integrated onto the blockchain at a later stage. For your information, I will provide here an illustration of how our virtual reality will work in practice. Watch the video that I’m gonna upload. This is related to the previous experience of the partner company — Nine VR. Check it out! Please stay tuned. We will upload more videos on our YouTube channel!
Q: In addition to the government, various companies are investing in VR-related content and platforms. Do you plan to cooperate with them on the Dvision project? If so, how?
Brian: The Dvision team has already cooperated with public institutions in order to find the best application of the government’s non-face-to-face policies, which were imposed due to COVID-19. The team has already conducted several large-scale events that you can check out on several sites. I will share several of them here: Social Distancing Events. We will keep collaborating with public institutions as well as with governmental agencies in order to 1) encourage the further adoption of blockchain technology that aligns with the government’s policies and 2) further accelerate the growth of VR technology.
Q: The standard for NFT tokens on the Dvision Network is based on ERC-721/ERC-1155, rather than ERC-20. What made you choose ERC-721/ERC-1155 over ERC-20?
Brian: First of all, NFT-721/1155 standards are quite different from the ERC-20 standard. NFT items (which are based on those 2 standards first mentioned) are quite unique and indivisible, thus unalterable. For example, let’s say you have an ERC-20 token (let’s say a DVI token) in your wallet, and you decide to stake 1 DVI. After 1 month you un-stake it and get that DVI token back. The question is do you care whether that DVI is different? Nope, it’s the same as if you lent $1 to your friend and he gave you back a different dollar bill. It doesn’t matter because they have the same value. Now let’s take a look at the ERC721/1155 → NFT items. Imagine you lend your unique item, let’s say a rare baseball card, to a friend. A few days later, your friend tries to give you back a different baseball card. Will you accept it? Nope, because your card is unique and you know that those two items do not possess the same value. This is why we chose the ERC721/1155 standard for our NFTs. If you want to know more about the NFT standard (ERC1155/721), check out our blog → NFTs on the Dvision Network.
Q: DVI is currently listed on Coinone. Do you plan to list DVI on foreign exchanges or other domestic exchanges in the future?
Brian: We are currently negotiating with top-tier domestic and foreign exchange platforms. All the information related to future listings will be announced on our community channel → The Dvision Network
Q: What is the incentive strategy to get businesses to join VR-CITY instead of making their own VR apps or services? Space rental fees or deposits will be burdensome for businesses.
Brian: If businesses decide to develop a gamified platform, let’s say one like VR-City, they will have to invest a lot of money and they will struggle to acquire enough customers due to the “Winner takes all” concept. Therefore, in the long-term perspective, businesses will have to integrate into a single platform, just like brands being a part of a bigger community, like Instagram or Facebook. So it’s more effective to join our VR-City than develop their own platform, isn’t it?
Thank you for taking the time to join our AMA and ask us so many wonderful questions. If you missed the live AMA, we hope this summary was sufficient for you! Please stay up to date on all things Dvision.