Augmented and Virtual Reality (AR and VR) are ways of viewing the world in a different way through devices such as headsets, smartphones and tablets. They give you access to information in a new way, and are one of the most rapidly expanding technologies of the moment- so much so that Goldman Sachs has estimated the worldwide AR/VR software market to be worth $35 billion by the middle of the next decade. The problem, though, is that the expense and time involved in creating content for this medium means that, currently, there’s simply not enough out there to encourage the masses to get involved. Cappasity have come up with a unique way of funding the expansion of this exciting sector by launching a new crypto-currency called the ARToken.
Cappasity is an already established company that operates in the AR and VR space. They offer solutions that help create content for the platforms such as easy-to-use software, tools to aid conversion, and everything companies need to embed 3D content into their online stores. You can find the full range of services on offer at https://cappasity.com.
To allow seamless transactions between partners and customers on their platform, Cappasity plan to leverage a blockchain infrastructure to help with the creation, rental, and sales of a wide range of 3D content. This is where the ARToken comes in.
Acting as any other crypto-currency, such as BitCoin or Ethereum, the ARToken will be available on crypto exchanges. What’s unique about it, though, is that it will be the means of digital payment for the AR, VR and 3D content that is available within the aforementioned Capassity ecosystem.
ARToken (AR)- The Details
The ARToken is issued as an ERC-20 Ethereum token, which means that all transactions that use ARToken will be a part of the Ethereum blockchain and, therefore, approved by miners of Ethereum.
The first phase of the ARToken sale is currently open. During this stage there is a $30 million cap of tokens that can be sold. If this cap isn’t reached, the excess will be added to the Phase 2 sale, which will begin 120 days after Phase 1 closes and has an intended $20 million cap.
During Phase 1 you will receive 125 AR for every $1 you invest, and this can be paid via BitCoin, Ethereum, LiteCoin, or DASH. The minimum transaction is 0.1 ETH (approx. $31 US). The Phase 2 price will be announced prior to its launch, but will be based on the current market value of AR, which is expected to be 20 to 40 per cent higher than during phase 1.
There will not be any minting or mining of the new currency, so the total number of tokens that are created in the initial sales will represent the final number. 70% of the total ARTokens will be sold in the token sale, 18% will be retained by the founders as an endowment, and 12% will be distributed between early contributors. The founders and early contributors will only receive these once the full sale has completed to ensure that the tokens that are sold will represent exactly 70%, and the total numbers can be calculated.
There is also a bonus available, whereby if you make a qualifying contribution size you will receive more tokens. During the first phase you are able, for example, to receive a 10% bonus if you contribute more than $300,000 before total contributions have reached $10 million.
As soon as the token sale has ended, accounts will be set up on 3d.cappasity.com where the ARToken amounts will be deposited. Crowdsale participants will immediately be able to begin purchasing services that are available through Cappasity, such as 3D modelling services, and will also be eligible for a discount on these services.
Where Will the Money be Used?
The token sale is raising funds to encourage to development of appealing VR/AR/3D software on the Cappasity ecosystem, and will be spent in the following way:
- 43% – Dedicated to the development of new software
- 27% – Sales and marketing to create awareness of the platform
- 20% – The AR/VR innovation fund to encourage developers of the best applications to develop further products
- 10% – To use as a reward fund to give to the most active creators and contributors within the community.
Cappasity have created an exciting way for early adopters to get involved with AR/VR/3D content services, while helping to develop the overall network much further. This really is the technology of the future, and through ARToken everyone has the opportunity to help with its development, and benefit themselves along the way.