Weave to Fuel the Virtual Reality

VR and Augmented Reality represent the most promising segment of the tech market that has the potential to grow into a $40 some billion industry in just a couple of years. Projects that operate in this area would be looking for ways to offer better user experience and payment option for their tech-savvy audience. Opting for cryptocurrencies/digital tokens would be the only natural solution for them since these two things go together like peanut butter and jelly.

The project under review, WEARVR and their utility token Weave (WVR), didn’t come up with any formidable solution tech wise, but they had elaborated the platform that connects - or interweaves hence the name of the token - three major factions in the virtual reality: the developers, the users, and the manufacturers of VR headsets.

WEARVR’s background

WEARVR is not a new kid on the block. This company has been around for almost five years: it was officially registered in 2105 in Atlanta, Georgia, after a year of successful preliminary cooperation between Nic Mitham, the renowned VR expert, and Dubit, a globally recognized digital marketing and research agency with a specific focus on the products for children. Mitham’s concept, which included the dedicated website and mobile application, has been put into practice by a team of tech experts from Dubit. The result was the user-friendly platform based on the Stellar blockchain.

Over the course of its existence, the company has established partnership relations with numerous developers and hardware manufacturers from all over the world, including such hard-to-access markets as China.

WEARVR’s new stepping stone is the all-encompassing tokenization of intra-platform activities and its further decentralization, accompanied by the dynamic popularization of Weave tokens on their centralized parent platform. 

Decentralization and tokenization

The company reckons that they are currently in the most advantageous position to begin the comprehensive incorporation of the blockchain technology, as they are sitting at the crossroad of consumers, app and game developers, and hardware manufacturers. This unique position, and the fact that they currently have one of the biggest communities in the respective industry, provides WEARVR with an opportunity to act as a matchmaker and a provider of payment gateway without making any interference in these trilateral relations.

The introduction of the decentralized VR app store and the Weave token would add a new faucet to the existing platform that must be of benefit to all participants. In adherence to the concept of decentralization, WEARVR will cease to be an intermediary between the manufacturers, the developers, and the consumers, allowing them to establish direct B2C relations based on the use of Weave. In this win-win scenario, the developers will be able to lower the prices on their intellectual products while retaining, or even increasing, the profit margins while the end-users will get to purchase the latest VR apps and games at much more affordable prices. WEARVR will only list and promote VR goods and digital products.

In addition, WEARVR is also to introduce an option for crowdfunding of prospective projects using the Weave tokens.

Token sale details

WEARVR is currently conducting the pre-sale of Weave tokens that will last until May 30. The pre-sale provides for a 20% discount on the purchased tokens, thus establishing the price of 1 WVR at $0.09. It will presumably be followed by the IEO carried out via Exmarkets launchpad. The total of 480 million tokens will be made available through different rounds of the token sale. The minimum purchase limit is set at $500. Investors from the United States and North Korea will not be admitted to the token sale.

 Author: Alex Paulson for: Crypto-Rating.com

  • Existing Centralised App Store. We're going to super-charge our existing app store, of over 3000 apps, by integrating Weave as a reward and payment mechanic. 
  • New Decentralised App Store. Sitting alongside our existing store, we'll be launching a blockchain powered decentralized app store. 
  • Crowdfunded VR Content. WEAVE will be used by the community to fund exciting new VR projects, this gives the community a voice on what’s made.
  • Mixed Reality Goods Store. Our MRG (Mixed Reality Goods) market will allow creators, buyers and sellers to exchange digital assets, using Weave as the exclusive currency.
Pre-Ico Start dateMarch 1, 2019
Pre-Ico End dateSeptember 7, 2019
IndustryVirtual Reality
  • Nic Mitham. CEO, Founder of WEARVR
  • Andrew Douthwaite. COO
  • Matthew Warneford. CTO
  • Aleck Greenham. Full Stack Developer
  • Patrick Mead. Head of Blockchain Development
  • Jon Byles. Developer Liaison
  • Jack Kirk. Quality Assurance Engineer
  • Steve Morrison. Unity Developer
  • Caroline Gibbins. Accounts
  • Alessandra Patania. Graphic Designer
  • Stephanie Whitley. Head of Partnerships
  • Q3 2019. Enhance existing store and token usage through ecosystem.
  • Q4 2019. Decentralized app store and smart contracts to protect DRM.
  • Q1 2020. Crowdfunded content creation.
  • Q2 2020. Virtual goods exchange.

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