Estimated reading time: 6 minutes, 50 seconds
ARToken by Cappasity is is truly on the cutting edge, combining VR and AR, all with the blockchain technology and cryptocurrencies. ARToken will be used as a cryptocurrency for Cappasity’s existing services, which include Augmented Reality, Virtual Reality, and 3D modeling! We’ll go over what the project is, the potential obstacles that may get into their way, and of course we’ll go over the details of the ICO.
What is ARToken & what existing problem are they aiming to solve?
Both AR and VR are both very new fields, with lots of potential, but there are a few factors holding it back from grabbing hold. There is a severe lack of quality content, as most content creators don’t have access or are just dipping their toe into the waters of nascent market.
To unlock AR/VR’s potential, Cappasity, an established trusted player in the space, is launching a community-friendly AR/VR Ecosystem which is capable of solving the AR/VR content issue. The Ecosystem is designed to provide its participants with engaging economic incentives to store and trade self-created 3D and other AR/VR content.
Something interesting about ARToken that is also going to provide an immediate value, is that it can be used to pay for Cappasity’s existing services as soon as the toke sale is done.
To ensure trustless content exchange among participants, the system relies on blockchain infrastructure, which allows users to register copyrights and track transaction history by using smart contracts. This is a huge development, since there is a demand for a technology that would make it easier to track copyrights and who actually owns what intellectual property.
Currently patents are filed and maintained by governing bodies, but there’s a couple issues with the current system. The increased global economy has led to the erosion of borders. People in one market can do business with anyone around the world. However, there are inevitably going to be disputes, and the question of which jurisdiction takes precedent always comes up. There is no central world court for solving copyright disputes. Additionally, corrupt politicians can alter or remove certain patents, and the creator has little to no recourse. By incorporating blockchain technology, the intellectual property issue is pretty much solved.
There are many participants that make up Cappasity’s Ecosystem.
- Content creators/generators: All Ecosystem participants who generate AR/VR/3D content for the Marketplace and upload it to the Ecosystem’s databases.
- Content moderators: Community participants who check the content for appropriateness and consistency. They help filter out offensive submissions and copyright violations, and report misplaced tags and wrong descriptions. Moderators help keep the Marketplace clean and shape the content ranking system.
- Developers: App and web developers having a need for AR/VR/3D content with the purpose of app creation or content integration on a website. They may also build tools and apps based on the Cappasity technological platform or on their own framework, and list the created products to the Marketplace application store.
- Businesses who consume AR/VR/3D content through the Cappasity’s embedding tools: These customers acquire content to display it on their websites or to develop their own apps, or to buy ready-to-go apps from developers available at the Marketplace application store.
- Consumers: Anyone having a need for 3D, other AR/VR content such as 360-degree video and released apps for personal use.
- Storage service providers: Databases already on the market or any active community members willing to use their servers for content database hosting. The Cappasity content database is one of the multiple members.
What are the market conditions facing the project?
Here’s one stat that jumped out at me and I cannot forget. According to International Data Corporation (IDC) analytics published earlier in August 2017, the worldwide AR/VR revenue is expected to be $11.4 billion in 2017. The IDC forecasts it will jump as high as $215 billion by 2021.
It’s estimated that VR tech is going to be one of the quickest growing industries in the near future. The demand for the relatively technology has always been there. People have seen the potential of virtual reality for years. The main thing holding it back was the lack of technology that could handle the demands that VR places on hardware.
VR has been conceptualized since the 1960s, and ever since people had wild dreams for this technology, and the potential it has to offer has only been hyped by media and science fiction. And like so many times, these shows or movies actually kind of predict the technology that will arise, while at the same time influencing that prediction by putting that idea out there.
Augmented Reality is related, but slightly different. The concept of wearable “glasses” or “goggles” that would produce an interactive electronic display that only you could see isn’t a new idea. The pursuit of the technology wasn’t as driven as VR, but it’s certain been on the mind of those looking to innovate. We’ve seen Google’s goggles go through a trial period, and while those haven’t really caught on, AR has found a use in a slightly different capacity.
The increased popularity of smart phones has allowed for AR to find practical applications. The most famous use of the technology came in Summer of 2016 when Niantic released an augmented reality app called Pokemon Go. If you’re not familiar with this app, you probably lived under a rock at this time… But pretty much, you used your real location, aided by GPS, to hunt and capture certain creatures.
You would actually have to walk to these places in order to complete these tasks, creating the ultimate interactive app. This concept combined geocaching with augmented reality overlays though the use of the smart phone’s camera.
Augmented reality isn’t limited just to gaming. There’s a definite use in the technology for providing interactive real time maps, imagine arrows pointing you exactly where to go. That could make life pretty easy.
Who is behind the ARToken and its Ecosystem?
Something really cool about this project is that it is built upon an already existing network. The ARToken is being put out there by Capassity, a trusted name in VR and AR content.
The Cappasity story began when a team of professionals with a strong record in 3D gaming participated in a project which required a large number of 3D models. The team was well versed in 3D modeling, however, to the team’s surprise, the creation of a single game character took up to two weeks!
They also realized that access is very expensive. So they set out to make a company that would create greater access to these technologies.
So instead of just a random group of people putting a new project together, Capassity already has a set business plan, structure, and proven success in the field.
What is the design of the ICO?
At this point, I’d like to thank the creators of ARToken for putting the details of their token sale front and center in their Whitepaper. Normally I have to scour 5 different sources to find all this information. (It takes a while.) It isn’t of much confidence, but it makes my life easier.
The token sale is taking place in two phases. The first starts October 25, 2017 and will run 28 days or until all allocated tokens have been sold. Phase 2 will occur 120 days after the completion of the first phase. The total supply has been pre-mined and set at 7 billion.
For phase one, the token will priced at 125 ARTokens per dollar. The price will go up in phase 2. The hard cap for the ICO is set at $50 million. I definitely like to see that because uncapped ICOs make me angry; it can be greedy.. And lastly, most major cryptocurrencies are accepted for the crowdsale including, BTC, ETH, LTC, and DASH.
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*Patent Maybe Pending