Diving into the E-commerce world, it is true that technological advancements have gone beyond limits. Many still wonder how this is possible but it is time to stop wondering and start taking advantage of the technological impacts.
Kosta Popov, Founder and CEO at Cappasity, a company that provides a comprehensive solution for 3D digitization and creation of 3D content and has just finished Phase 1 of its crowdsale, opened up in a recent interview his reasons behind Cappasity and Cappasity Token (CAPP) and why he believes the future of the E-commerce world has a strain of survival in the AV/VR Technology.
CoinSpeaker: “What are the reasons behind your company and what is your current status?”
Kosta Popov: “We founded Cappasity four years ago. At that time, on the one hand, it became clear that 3D content production and integration were in high demand and the market’s needs would experience a high increase. On the other hand, 3D technology was time-consuming, expensive and not suitable for mass production. So we decided to develop a technological standard and an easy and fast platform for 3D content production and succeed. As for our current project, we are working on a new version of a platform that will use blockchain technology. The platform itself is a decentralized global AR/VR ecosystem for 3D content exchange. The participants of the Ecosystem will be able to easily create, store, rent, sell and embed AR/VR/3D content into websites, and mobile and AR/VR applications.”
CoinSpeaker: “What is the benefit of blockchain as it is used in the Ecosystem?”
Kosta Popov: “The Ecosystem participants need to know that their copyrights are protected. That is why the Ecosystem relies on blockchain infrastructure to ensure trusted content exchange among participants. Blockchain technology is also allows nearly free instant financial transactions all over the globe. When 3D content is being sold via the marketplace it won’t be expensive because the minimum fee will be charged there.”
CoinSpeaker: “It takes a lot of courage to launch an AR/VR Ecosystem. Why are you so confident that this initiative will be successful? Is there an urgent need for launching such an ecosystem in the AR/VR market?”
Kosta Popov: “The AR/VR is a highly prospective field. Goldman Sachs expects the software AR/VR market to achieve $35bln by 2025 with 60% of VR/AR software revenue driven by the consumer. However, there is a major obstacle that gets in the way of the development of AR/VR industry. Today we are facing the lack of compelling 3D content as well as its labor-intensive production and disappointing quality.
The solution that we are offering makes content generation easy, fast and accessible. We provide an absolutely necessary technological solution just in time to help bring the industry to a new level.”
CoinSpeaker: “There are numerous types of cryptocurrency today. Why do you choose your own cryptocurrency instead of taking an advantage of already existing ones?”
Kosta Popov: “We’ve settled on the creation of a native Ecosystem utility token — Cappasity Token (CAPP), which will be the primary payment vehicle for all transactions within the Ecosystem. CAPP was issued to facilitate 3D content exchange and services among the Ecosystem participants from all over the globe.
If Cappasity were to use one of the existing cryptocurrencies, then it would depend on it. Using our own cryptocurrency gives us independence, flexibility and the opportunity to determine our currency’s exchange rate and our economic strategy.”
CoinSpeaker: “Phase 1 of your crowdsale is over. What are the results? Do you expect the further growth of the token price?”
Kosta Popov: “Cappasity’s ICO has received wide public support – over 13,000 people registered on the crowdsale portal. CAPP started trading on HitBTC on December 5. Immediately after the token was listed on the exchange, its price has gone up significantly compared to the Phase 1 price. Of course, we expect the further growth of the token price. It will happen due to several factors.
Firstly, we are going to accept CAPPs on the Cappasity platform starting from the end of December 2017. As the platform develops, the value of the token will grow. Secondly, we are a real business and our client base is constantly expanding. We also work with other developers who will participate in development of the Cappasity Ecosystem. In addition, The Cappasity platform will be launched in China in January 2018. That is a very important step for us.”
CoinSpeaker: “Speaking of AR/VR technologies in general , how are they used today in E-commerce? Which segments have a huge demand for?”
Kosta Popov: “3D technologies are rooting into the e-commerce field and revolutionizing it more and more. First of all, their application is connected with the demonstration of products and the fashion industry.
AV/AR technologies open up far more opportunities. Imagine that you are buying a new sofa. The store provides you with a unique opportunity not just to look at photos of the products you are interested in in the catalog, but project 3D Holograms of the products into your room and see how a particular sofa would fit into your home.
When buying clothes, you can project into your room a hologram of a dummy or a model in the clothes that are of particular interest to you. The dummy will be right in front of you, so you can go around it to see what the clothes look like.
The implementation of these technological solutions spares time and energy, helps customers make the right choice and makes shopping, to some extent, more entertaining and thrilling.
Devices that support AR/VR are actively increasing their market presence. Thanks to Apple, which is advancing the popularization of AR technology, we are waiting for it to become even more popular and accessible.”
CoinSpeaker: “How do AR/VR technologies help business development? How does the implementation of AR/VR technologies increase revenue and is their increase?”
Kosta Popov: “First and foremost, 3D technologies enable businesses to tangibly increase sales. Taking into consideration the luxury segment, when retailers implement a 3D demonstration of goods on their websites, it raises revenues by 30 or even 40 percent. Why does it happen? Online customers receive more information about goods and therefore it becomes easier for them to make purchasing decisions. It is only 3D pictures that can show customers quality of materials.
For e-commerce, AR/VR technologies provide high-quality demonstration capabilities for products. Customers are able to examine goods in detail without visiting a store, and at the same time, these technologies create the illusion of visiting the store.”
CoinSpeaker: “Why did you decide to use token crowdsale even when your company is supported by venture capital?”
Kosta Popov: “The platform has been created and is still developing with the help of venture capital. By announcing a crowdsale, we inform a wide audience about us and our project. The crowdsale allows us to draw the attention of those who are really interested in the platform and our technological solution. It is not the money that we are interested in, but in attracting an audience of like-minded enthusiasts. When buying CAPPs, a participant becomes an early contributor who shows his interest in 3D content and services.”
CoinSpeaker: “What are your plans to develop the Cappasity AR/VR Ecosystem after it is launched?”
Kosta Popov: “Currently, we are focusing on the development of the marketplace for 3D content and a mobile app for 3D capturing and provision of APIs for other developers. The mobile application will allow anyone to make 3D images of objects wherever they want – without requiring either a turntable or lighting equipment. Next year our team is going to release free plugins for Unity and Unreal Engine so that anyone could easily integrate content from the Cappasity platform.”