The VRT World Project stands to change the face of virtual reality and digital financial markets in the near future. A critical aspect of the VRT World Project is an exclusive developer platform within a blockchain-based marketplace. The platform not only protects participants through the power of blockchain technology but also provides the tools developers need and are often lacking to create great virtual reality content and an audience for content sale, with the intent of bringing the lack of quality VR content into line with the advancing production of VR technology. Additional partnerships with other innovators in the digital industry will also help VRT World stretch the applications of VR. We interviewed Konstantin Negachev CEO of VRT World (vrt.world) to find out more about the company.
As a founder of VRT World, could you tell us the vision behind creating such a unique company?
All of those involved in VRT World has been involved in the virtual reality industry for many years, and have seen the frustration of VR technology surpassing quality VR content because developers are hindered by slow development, lack of resources and the high costs involved. Our vision was to create a market where these developers had all of the resources they needed to feed the starving VR content market with high-quality content, and things have taken off from there.
What kind of outcomes have you seen from the beginning of your blockchain market project?
Not only are we opening VR parks and creating partnerships across international lines, but we are now turning our eyes to the heavens. A recent growing interest in VR and the vision of space in education, technology, and even entertainment has brought us together with new friends at Spacebit, and we announced a new partnership January 24 at the World Economic Forum in Davos, Switzerland.
That is an exciting development. What can we expect from this kind of partnership?
Spacebit intends to launch a platform for financing international space projects that are not related to any governments. Spacebit will operate the crowdfunding platform with the participation of a team of experienced consultants, astronauts, engineers, and scientists, and the community will have the opportunity to vote for significant projects. Suddenly, space will be open to everyone.
For its part, VRT World will develop VR applications for space exploration, training astronauts, and educational purposes. For example, plans are in the works for Spacebit and VRT World to create a realistic VR environment imitating the landing of the Soyuz capsule. The primary scientific consultant on the project is Anatoly Artsebarsky, one of Spacebit’s co-creators and the commander of the Soyuz TM-12 mission in 1991 when he spent nearly six months in orbit.
Those are lofty plans indeed.
And seriously needed. The technology we are currently using to study space is becoming obsolete, and new and exciting innovation is necessary to refresh this area of research.
But there’s more. True to its love of bringing virtual to reality to earth, VRT will use its studies to create the opportunity for the common man not only to observe but to “walk” along the surface of the moon.
You have been in the blockchain industry for a while. Could you tell us how it has changed over the years and what we can expect from blockchain by 2020?
We’ve seen the instability of cryptocurrency that makes some investors nervous, but the addition of blockchain technology adds a stabilizing effect, and the manner in which we use the technology with our tokens provides an additional level of security.
In fact, blockchain technology will bring 80% of financial firms into the cryptocurrency market within 3–5 years according to the Bain and Broadridge Report. And CBR expects the majority of financial institutions to adopt the technology by 2020, especially in business areas that need improved transparency, automated processes and time saved on transactions. Those are all the fundamentals of what we offer with the VRT blockchain market today.
What is your opinion on the term “cryptocurrency bubble”? Is it something fragile with a possibility of massive losses or is it merely something that people don’t yet fully understand due to its complexity?
It’s a complicated issue. As more and more ICOs come into the market (30 in July and more than 50 in August), the value of this digital commodity erodes based on the evaporation of its scarcity. So, investors need to be wary. This glut of new ICO startups causes the “bubble,” but those without a strong foundation will naturally fall away. The bubble will burst when that happens, and investors who put their money into those ICOs will, unfortunately, suffer, while those who invest with ICOs like VRT with strong foundations in the security of blockchain will thrive.
Joe Pindar, director of the strategy at the office of the chief of technology for Gemalto, noted in Coindesk that “The fundamental premise of cryptocurrency if it’s not a scare digital commodity, is that it is a token that allows access to a utility service.” He could have been describing VRT World’s marketplace and another reason that our token value will remain strong.
Where do you see cryptocurrency pricing going in 2018?
I leave predictions to the experts, but I know our value is rising, while our pricing remains stable. However, when you consider forecasts from Don Tapscott in Quartz, VRT World is in good standing. His predictions include growth in the value of cryptocurrencies, a shift toward equity tokens like ours, an increase in social impact through this industry — similar to our new partnership with Spacebit to re-imagine space exploration — and a year of growing crypto resilience.
We at VRT are appropriately geared for growth and exciting, innovative expansion into new projects, countries, and industries.