Estimated reading time: 4 minutes, 46 seconds
DenCity is a immersive online experience, not unlike “The Sims” or “Second Life,” that is powered by the blockchain. Need a break from the real world? Then the DenCity project might interest you. The DenCity team is designing a world where you can buy land, interact with other users, and even make cryptocurrency by having a “virtual job.” By implementing the DNX token, users can get paid in real cryptocurrency!
Watch Jeremy break down everything you need to know about the DenCity ICO project!
Today we’re going over a project that might actually make you think twice about whether we’re in a computer simulation… DenCity, an simulation that creates a completely immersive experience for the user, all on the blockchain.
Of course we’ll go over this project the same way we go over every project. We go over the same four questions we use to get you up to speed on everything DenCity!
What is the DenCity & what problem are they trying to solve?
Since the “online revolution” that saw most of the industrialized world adopt the Internet, there have been several websites or software that lets you live and control characters in an alternate universe. The most popular is the Sims, but Second Life and others like it have proven to be very popular as well.
DenCity takes it to the next level. They are offering the most advanced real life “sim” by using virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) to create a vast dreamscape.
They have outlined the first few ideas of the universe. The idea is that governance and concensus on rules and suggestions will be done by the community. On day one they’ll offer real estate, either in the form of empty land or a pre-made “house,” basic interaction with other “characters,” and “basic jobs.”
That last bit is pretty cool. Another incentive for people to join the platform is that you can provide real services using your DenCity job in order to get paid in real life tokens.
It gives you a break from being yourself.
Dencity references the “sad state the of the world” we are currently experiencing. So DenCity’s message is clear. Real life can be tough, and everybody could use an escape of distraction ever so often. Everyone knows the value of entertainment, and DenCity goes a step further than that by creating an intensively immersive experience. Really they are offering people a chance to create an online persona, to encompass the characteristics that they might be lacking in. This isn’t anything new, see the previous examples, so they are working on a concept that has found success.
What are the market conditions facing the project?
While there have been many different iterations on the “people simulator” idea, we’ve seen constant demand in that space. People still love the Sims after all this time, so I’m not concerned about the potential market size for this project, the past proves this market already exists. Moving the idea to a blockchain-based technology isn’t going to be easy, especially with limits in computing power.
Can this level of AI, AR, VR, and the huge processing power it demands exist on current blockchains? Right now the Ethereum network is still recovering from Cryptokitties, and bitcoin fees are averaging 20$. Of course I believe in the potential of blockchain technology, but we have to be honest with ourselves about where the network is in it’s overall progress.
This is still a fairly new technology with unrealized potential, and its yet to be seen what type of demand these networks can really handle. There’s no clear answer to this question, and chances are the answer that I would give in one year is going to be completely different than the answer I’d give now.
Blockchains are going to have to evolve to meet the demands of these projects. Hopefully the success of some of these projects pushes the scaling problem to the forefront so it has to be addressed. These networks are going to have to improve in order for most of these projects to meet their stated goals.
Who is the team behind the DenCity project?
The DenCity project is comes from the mind of co-founders Diego Matic and Andre Boroz.
The project is located in Croatia. A lot of projects you really have to dig to find information or a way to contact members of the team. DenCity makes it really easy to see who is behind what. Contact information and that lack of transparency always annoys and bothers me. So it’s refreshing whenever I see people who are willing to put their face out their and attach it to their project.
What are the details of the ICO?
In pre-sale at the time of posting (December 22, 2017), 3 billion tokens will be created for the whole project. Distribution is as follows:
- 30% for the ICO
- 20% for general development
- 23% for future
- 20% founders
- 5% advisors
- 2% bounty program
For Phase 1, they planned to raise a total of $30 Million on sale of 900 Million tokens with each of them priced at $0.034 USD.
There is a bonus structure depending on which week you get into the ICO, check out the DenCity Token Sale Information.
ICO or NO covers some of the hottest tokens sales from the coolest projects! Jeremy, though his patented Four Question System*, dissects each project to help you better understand the token sale! Check out more of our ICO or NO episodes here, and subscribe to our YouTube channel for future ones!
*Patent Maybe Pending