According to a newly published report by Transparency Market Research (TMR), the demand for Virtual Reality (VR) content has grown significantly in recent years, touching upon a wide array of industries, and is expected to increase even more, up to 278-fold in market value, between the years 2015 and 2024. This prediction will see the market jump from US$147.5 million in 2015 to a colossal US$41.01 billion by the end of 2024.
Decentralized VR content sharing platform, ImmVRse, is developing a platform aimed to stimulate the growth of this emerging industry. Within the platform, the processes of publishing and distributing VR content are based on a community-driven approach. In other words, the platform allows its users to set the value for every published piece of content on the network.
Designed specifically to meet the interests of VR content creators and the community, the network’s incentivized ecosystem allows both sides to benefit from ineracting with each other, while producing innovative VR content for the industry.
VR content creators are usually characterized by two main criteria: experience and accolades. The degree of attention they attract from viewers, brands, and advertisers is directly proportional to the level of their reputation in the market. Very often, such a classification leads to increasingly lucrative deals and opportunities. Each tier of content creator rankings has it own requirements on ImmVRse network and the only way to earn the accolades is through the platform’s endorsement badges and monthly creators’ awards.
Leveraging smart contracts, ImmVRse has designed an innovative award system that allows viewers to vote for their favourite videos under multiple categories every month. Winners of these events will get rewards in the form of ImmVRse native tokens and, what is more, the opportunity to advance into a higher tier of creator rankings.
These endorsement badges enable brands and companies to identify the efforts of the best talents in the industry and engage their services for the successful completion of a business-related project. Creators will also be automatically awarded an endorsement badge from a company upon successful exchange of values.
ImmVRse’s creator tier system works as a good motivation for content creators to do their best aiming to achieve diamond tier creator status and trustful reputation within the platform. These rewards not only increase their exposure to companies, brands, and advertisers, but also enable them to increase the minimum costs for their service.
Based on the blockchain technology’s principles of immutability and transparency, the platform firmly believes that this system will unleash the best the market has to offer. And this is just the beginning of ImmVRse’s disruptive revolution of the VR content industry.
Aiming to totally disrupt the industry, ImmVRse has been collaborating with different firms and organizations.The latest strategic partnership has been with Bitcoin PR Buzz (BPRB), a market leader and world’s first professional cryptocurrency and Blockchain PR firm, and a bit earlier, the company has partnered with Imperial medical school to reveal the effects that VR exerts on human sensory response and physical reactions.