- March 3, 2022
- Posted by: Bogdan
- Category: Company News
Virtual reality (VR) is a computer-generated, three-dimensional depiction of a digital environment at its most basic level. The beauty of VR is that it may be any environment or simulation we want it to be, and we can be “in” it, engaging in a variety of ways, having multisensory experiences, and even doing things that defy logic.
Thanks to the creation of the metaverse, virtual reality is going to become much more than what we know it to be now,. VR’s future is bright, but before we get there, it’s vital to understand how it came to be and why it’s become such a major concern in recent years.
The metaverse is a shared virtual environment that people may enter over the Internet and is rendered lifelike via virtual reality and augmented reality. Most people would rightfully associate the metaverse with the various gaming worlds they enjoy playing in, and they would be correct – but with blockchain powering it, it can be so much more than that. For example, in Decentraland, we can purchase and sell digital real estate and trade it for real money while exploring and participating in its virtual world, or in The Sandbox, we may play, construct, own, and monetize our virtual experience.
RFOX VALT – RFOX’s very own metaverse – is another excellent and clear example of a metaverse maximizing the possibilities of virtual reality. It is a self-contained virtual environment with its own tokenomics, allowing users to use RFOX and VFOX tokens within the ecosystem. It’s also having public land sales, which are usually snatched up by big-name businesses who want to turn the property into their own shop where customers like us can check out, buy, and have their things delivered for real. The RFOX VALT metaverse also intends to feature an NFT exhibit, where we can see the trendiest NFTs on display in spectacular 3D models, as well as an events section, where we can attend concerts of our favorite singers with our friends no matter where we are or without leaving our house.
RFOX is Planning Livestreams, Metaverse, and More for the E-commerce Space
RFOX has set out to be a major player in the next generation of e-commerce, based on the breakthroughs of live streaming and the metaverse, as a firm that is always innovating through cutting-edge technology. RFOX has been developing an e-commerce streaming app, which will be bolstered by the launch of RFOX Media’s future RFOX TV streaming platform. This e-commerce program will connect to the RFOX VALT metaverse, allowing online sellers to reach a larger audience in the virtual world. Cashback and affiliate programs, as well as a 5% platform fee and money from KOLs, will all contribute to the app’s financial health and future growth.
A tract of metaverse real estate in The Sandbox sold for a whopping $4.3 million last November 2021, while another person paid $450,000 for a piece of metaverse prime land next to Snoop Dogg. During the initial property sale in RFOX’s very own RFOX VALT, one of the Callinova businesses sold for 2 million RFOX tokens (worth $177,000 at the time of writing). It’s difficult to ignore the growing demand for metaverse land, especially when people are prepared to pay millions of dollars for a piece of virtual real estate.
Virtual reality technology has advanced dramatically in recent years, making it more accessible to the public. Graphics are becoming more realistic, virtual reality headsets are becoming smaller and more affordable to the general public, new virtual reality accessories are being developed every day, and possibilities that have never been explored before are constantly being developed. The barrier between the actual world and the virtual world is likely to become increasingly blurred as alternate worlds such as virtual reality, augmented reality, and extended reality (XR) become more complex and integrated over time.
RFOX Metaverse Key Elements
Cyberpunk 2077, a video game, takes a unique approach to portray the future of virtual reality by experimenting with the concept of braindance. Putting dystopian visions aside (happily), VR technology is now used in a variety of businesses to improve people’s lives. In addition to the metaverse, virtual reality is particularly useful in situations where sensory experience is required but is unavailable, impractical, harmful, or even impossible to obtain physically.
Metaverse lands, like physical properties, can be used for a variety of purposes, which is a very appealing feature if you plan on starting your own metaverse business, being a landlord and leasing your properties to tenants, or even opening your own metaverse showroom to display your NFT collections. For example, RFOX VALT is separated into four sections, each with a different theme. Each quarter consists of 25 shops that are auctioned off to the general population. If you were one of the happy bidders who won a shop in RFOX VALT, you can either make it your own or lease it to someone else.
Other metaverse companies also offer different ways owners can use their metaverse real estate. Sports giant Nike, for example, unveiled Nikeland on metaverse platform Roblox, an entire world designed for Nike fans to connect, create, compete, and share experiences or even shop for Nike gears.