The
crypto-meets-virtual
reality
(VR)
developer
Victoria
VR
says
it’s
working
to
release
the
first
metaverse
app
from
a
blockchain-related
company
on
the
Apple
headset
“Vision
Pro.”
The
project’s
metaverse
consists
of
“ultra-realistic
graphics
and
immersive
gameplay,”
which
will
be
able
to
supplement
Vision
Pro’s
technologies,
the
company
said
in
a
statement
on
Friday.
The
app
is
expected
to
be
available
in
the
second
quarter
of
this
year.
“It
forms
an
elaborate
digital
environment
that
shows
off
the
many
capabilities
of
the
Apple
Vision
Pro
while
simultaneously
showcasing
the
power
of
Web3
technology,”
according
to
the
release.
Apple’s
much-hyped
first
futuristic
headset
hit
the
shelf
on
Feb.
2
and
would
be
its
first
foray
into
the
virtual
reality
ecosystem.
Despite
fizzling
interest
in
the
metaverse,
this
isn’t
the
first
time
a
tech
giant
has
delved
into
the
VR
sector.
Vision
Pro
would
be
a
competitor
to
tech
giant
Meta’s
(formerly
Facebook)
existing
“Meta
Quest”
headset.
VR
token
price
jumps
Victoria
VR’s
metaverse
is
driven
by
its
VR
token,
which
will
reward
its
active
users
and
stakers,
the
firm
said.
The
token
is
based
on
Ethereum,
under
the
blockchain’s
ERC-20
standard.
Half
the
revenue
generated
from
in-game
asset
sales
will
be
redistributed
to
stakers
and
active
metaverse
users.
“Victoria
VR’s
in-app
economy
is
fueled
by
the
VR
token,
used
to
incentivize
activities
that
enhance
the
virtual
environment
for
the
benefit
of
all
participants,”
according
to
the
press
release.
The
VR
token
has
surged
nearly
60%
in
the
last
24
hours
and
has
$103
million
in
market
cap,
according
to
CoinMarketCap
data.
According
to
a
white
paper
posted
on
the
project’s
website,
“We
want
Victoria
VR
to
be
accessible
to
all,
and
so
citizens
will
be
able
to
earn
Victoria
VR
by
simply
taking
part
in
the
world.
It
will
be
“pay-to-speed”
not
“pay-to-
win.”
“These
ERC20
Tokens
will
be
our
primary
source
of
generating
revenue
during
the
start
of
the
project,”
the
white
paper
reads.
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