Verses sets up blockchain-based property rights in augmented reality
Verses has launched a protocol for virtual and augmented reality to help people establish ownership of virtual real estate, 3D space, and other goods in the virtual world. The company likes to refer to this idea of owning things within the virtual world as Web 3.0.
Just as websites have a proprietary address, Verses is using blockchain technology to identify specific 3D spaces in augmented reality. That allows people to own parts of the virtual world, or Metaverse, if you will. And Los Angeles-based Verses has set up the nonprofit Verses Foundation to serve as arbiter for the protocol that will delineate this “spatial web.”
The Verses Spatial Web Protocol is a universal and open standard for the next generation of the web that exists in AR or VR, connecting people, places, things, and currencies into a single digital network.
Verses has sold $6 million worth of tokens to various investors, including Blockchain Industries, Decentra, and other parties, and the company plans to raise additional capital via its private token sale from the international community.
This is reminiscent of the World Wide Web consortium that sets web protocols, such as hypertext transfer protocol, or http.
Verses is set up as a nonprofit. The Verses technology works as an open standard, establishing a universal protocol that powers its key feature set for virtual assets across a multitude of applications. This includes use cases such as virtual commerce, interconnected virtual reality spaces, smart city infrastructure, and secure holographic telecom.
The company currently has 35 staff and 15 partners.
See the full story here: https://venturebeat.com/2018/08/15/verses-raises-6-million-to-set-up-blockchain-based-property-rights-in-augmented-reality/