Blockchain-based virtual reality (VR) platform ImmVRse has built its solution for supplying the growth and development of high-quality VR content around the user communities, believing that community-driven approaches that allow users to determine the value of published content will catalyze the further development of the fast-growing industry.
Despite being considered a nascent technology yet to reach full levels of maturity, the VR industry has already been recognized for its potential by many sectors, who see its use and effectiveness as a great marketing tool, besides being a creative new way to set them apart from competitors.
A recent study by Transparency Market Research (TMR) shows growing evidence that the industry is set for a massive spurt in growth, predicting an incredible increase of over 270 times the current market value from $ 147.5 million in 2015 and $41 billion ten years on at the end of 2024.
The ImmVRse ecosystem banks on the community driving self interest, hence designing it as such that VR content creators along with their communities are encouraged to interact, collaborate and inspire together to create the highest quality VR content available online.
Once connected to ImmVRse, VR content creators will be sorted by their experience and achievements as accumulated over time on the platform. As they earn more achievements, either through monthly creator awards or through endorsement badges, they will meet different requirements classifying them into several tiers.
Monthly awards will be automatically issued via smart contracts executed on the Blockchain, based on votes from viewers on their favorite content under several categories. These monthly award winners stand to receive a significant share of ImmVRse digital tokens native to the platform, as well as a chance to advance to higher creator tiers.
Concurrently, brands and companies can also recognize creators by awarding them endorsement badges, which will act as a testimonial to the successful completion of projects by the creators. These badges are automatically received once a company approves a submitted project and agreed payments are cleared. Rewards in this sense will consider the level of project complexity to ensure objectivity.
As creators achieve higher tiers, they will gain from better exposure from viewers, but also from bigger brands and advertisers keen to connect with the creators’ larger influence. Naturally, the deals and opportunities available to higher-tiered creators will tend to be more rewarding.
Because this tier system comprehensively measures the quality of work and experience gained, creators will be incentivized to work harder and deliver higher quality content to rank up faster. They not only gain more recognition but have the option to increase service costs as they rank up, while better positioning themselves for more lucrative business opportunities and gaining from tier rewards, with the ultimate reward of diamond tier creator status offering the benefits of recognition for the most elite of creators.
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