ImmVRse is a decentralised website, iOS and android application which utilises a standard Ethereum based ERC20 token to create its own eco-system. Therefore it is neither considered nor classified as a crypto-asset. Although tokens are designed to be traded in multiple exchanges across the globe, this does not necessarily provide a guarantee or an immediate increase of price. The sale of the tokens constitutes the distribution of a fully legal web and mobile application under the laws of the United Kingdom. ImmVRse will be treated and utilised as a DAPP TOKEN and will respectively be integrated as a form of payment. This whitepaper should be used for general understanding of the concept and does not constitute nor intend to provide any form of professional investment advice to the contributors either new or experienced in the world of cryptocurrency. Anyone willing to participate in ImmVRse ICO will therefore independently be required to understand the risks and implications. Details of terms are set aside by the company’s appointed law firm, regulated by the Solicitor Regulation Authority in the UK. For ease of understanding for potential users and ICO participators, this whitepaper is available in multiple languages.
COMPLEXITIES WITH CONTENT DISTRIBUTION
Multiple platforms have VR support including YouTube and Facebook, however, there are not enough content creators on any one platform. Current media sharing platforms are dominated by 180/2D video content with only a few top tier influencers being compensated well. Unfortunately expensive cameras are discouraging the new generation of content producers, thereby reducing the volume available for viewers. In addition, the lack of copyright protection against the reproduction of content does little to encourage and stimulate growth in VR production. The end result favours only a handful of VR video and animation creators who are able to dominate the field. Given the fact that the marketplace for traditional video producers are wholly saturated, it is very difficult to feed the growth of VR without more dedicated platforms. The current offerings are however flawed in many respects with most being centralised and with limitation of approval. That is, not all the content creators will be approved on the platform, a decision which is retained by the platforms themselves.
There are currently many countries in the world where users are bound by legislative restrictions in regards to payments. The decentralised model overcomes these hurdles by implementing a standardised approach to digital payment transactions. By providing a blockchain payment integration, ImmVRse will allow anyone in the world to create a wallet within seconds and use it to make and receive payments.
SOLUTION TO THE PROBLEM
Blockchain is at the forefront of a new digital revolution that has caught the world by storm. In essence, blockchain is a decentralised network and digital ledger for transactions, which can be programmed to store all types of valuable data and also has no single point of failure. ImmVRse will be powered by a web infrastructure built on the foundation of blockchain called Ethereum. This is a platform that allows smart contracts to be distributed as well as decentralised applications to be developed and run without the influence of a central arbitrator, downtime, fraud or any external interference.
CREATIVITY – ImmVRse will not only provide a common platform for general viewers, advertisers and businesses, but also a community where members can interact, help and inspire each other to create some of the best VR content available online. By using the power of a decentralised network, they will create an efficient and self-sustaining ecosystem for their members.
CONTROL – Control and the power of sharing will be shifted towards the community to remove centralised decision making and removing third party or middlemen from the workflow. ImmVRse will not act as a mediator or intermediary. Every job will use the functions of smart contracts, the parameters of which will be set by the users on both sides, e.g. brands and the content creators. The contract will be deployed on the blockchain and payments will be processed based on set deadlines agreed between parties. The system of contracting will therefore function similar to a peer-to-peer hiring system.
PAYMENT – Payment is one of the biggest problems that blockchain will solve via this application. Firstly, there are no high transaction fees, requirement for bank accounts or any other restrictions for users. Using ImmVRse tokens, it will take seconds to send and receive payments anywhere around the world without paying a high processing fee to a bank or a third party money transfer. This will open opportunities to millions of content creators in many countries where the citizens prefer using cryptocurrencies due to geographical and administrative restrictions imposed by their country’s legislative authority. Additionally, the users will be moderated using a sophisticated autonomous ID verification system. Once the users are verified, the payments will be made using ImmVRse tokens.
TYPE OF BUSINESS
ImmVRse is a mix of B2C and B2B, connected & decentralised blockchain VR video-sharing platform, where VR content producers are able to showcase their talents to a broad audience. Brands can hire content producers and also directly advertise to viewers on the platform. Viewers are able to interact with the community by liking, commenting and sharing videos, in addition to receiving rewards as an incentive.
Target audience for ImmVRse is primarily those who are involved or would like to be involved in VR content production and the age range is between the ages of 16 to 45. The corporate target audience varies from small businesses, start-ups and medium enterprises to large consumer brands and internet personalities.