Studying the OVR project and the token
OVR is an open source global augmented reality (AR) platform that creates a decentralized infrastructure for an Ethereum-based spatial network. Combining the physical and virtual worlds, OVR provides all the tools necessary for the decentralized creation of an immersive interactive experience and virtual reality.
With technology compatible with mobile devices and smart glasses, OVR offers a new augmented reality (AR) experience for gamers, content creators, fans, artists and ordinary users.
OVR draws inspiration from two highly regarded protocols:
First, Ethereum provides a baseline for OVR, which facilitates the provision of OVR and ownership. In addition, the OVR token works on the Ethereum blockchain.
Secondly, OVR uses the Interplanetary File System (IPFS) for decentralized storage of OVRExperiences (mentioned later).
The proprietary ERC-20 OVR token is available for users who can earn money by participating in the OVR ecosystem. This includes the purchase, lease or sale of OVRLand assets. Moreover, users can earn OVR tokens using OVR staking tools.
In addition, content creators in augmented and virtual reality can earn OVR tokens by developing and publishing experiences for users. The multifunctional token is also responsible for granting management rights by voting for OVRNodes.
OVR Nodes nodes are responsible for hosting augmented reality (AR) and virtual reality (VR) resources. OVRNodes nodes form a network of a decentralized interplanetary File System (IPFS), offering optimal efficiency for processing and executing transactions.
As with most validator models, OVRNodes are rewarded for their contribution to the OVR network in their own OVR tokens. This encourages honest behavior of participants. Participants are rewarded for their honesty more than for any achievements, and are punished for improper actions or attempts to deceive the network.
OVRNode requires a minimum stack of 500 OVR to work. In addition, OVR token holders who do not directly manage the OVRNode can vote for the node selection by delegating tokens to the staking with the specified node.
If users of the OVR platform want to support the OVR ecosystem and cannot provide storage, bandwidth, or minimum prerequisites, they can alternatively delegate their OVR tokens to staking. When OVR tokens are staking, holders get the right to vote for nodes with the best hosting indicators.
Nodes are evaluated based on two key indicators that have the same weight:
- The total number of OVR tokens directly or indirectly linked to the node.
- Resources (bandwidth and latency) deployed by the node
OVRNodes nodes with the most efficient hosting and the most votes are periodically rewarded in the form of OVR tokens. In addition, the voters of the top OVRNodes nodes are awarded with OVR tokens as a thank you for supporting the network.
Nodes and stakers will receive a reward for staking during the first three years after the launch of the platform. These rewards will come from the reserve fund, and as a result of subsidies for rewards for staking, inflation will not arise.
After that, OVRNodes will be subsidized by hosting fees as the platform develops. During the initial three-year period, OVRNodes will receive 6% per annum from their share, as well as the opportunity to earn a bonus depending on their rank. Moreover, voters and OVR participants will receive 5.5% per annum during this period.
The OVR app, available on Apple iOS and Google Play, is a gateway to the OVR ecosystem. It offers users, creators, fans and artists an exciting new platform for interacting and potentially generating passive income using OVR tokens in the OVRLand space.
Users can buy virtual land, known as OVRLand, and create their own auctions. In addition, users can issue their own unique Land tokens.
1.6 trillion ovrlands are available in the form of unique hexagons. The OVR team chose the hexagon shape after considering three shape elements that can cover the Earth’s surface; a square, a triangle, and a hexagon.
OVRLand are hexagons that have two main properties compared to other polygonal analogues. First, they are transverse neighbors, that is, all neighbors are located equally from each other. In addition, it simplifies the calculation of the neighbor map. Moreover, hexagons have the most adjacent sides. This coincides with the idea of the OVR community, encouraging the interaction of neighbors with users.
OVRLand is the ERC-721 Non-interchangeable Token Standards (NFT), representing unique data fragments. OVRand assets can be adjusted and improved using OVRExperiences, available through the OVR Marketplace (explained below). Moreover, once a user has purchased an OVRL, he can lease, trade or sell his OVRLand assets.
To reduce the cost of Ethereum gas, OVR uses the xDai sidechain to process OVRLand transactions. This is done to prevent any network overload on the native Ethereum blockchain. However, xDai still supports Ethereum network security. Intermediate smart contracts are available if users want to send assets from xDai to the Ethereum chain. This can be the sale of assets on the NFT trading platform, such as OpenSea.
One of the options in the OVR app is OVR Live. First, OVR Live will offer users to create their own avatar by uploading a photo or taking a selfie. Users will be able to customize their features with the “personalize your face” option, creating a hyper-realistic personal 3D avatar. Users can then select “Log in to OVR Live” to participate in events held in public or private virtual rooms.
Thanks to the combination of augmented reality (AR) and blockchain technology, users can now attend a concert of their favorite artist without leaving home. Fans will be able to watch artists perform music for OVR Live Events. The artist is recorded and played back using hyper-realistic AR technology in real time, recreating the performance for each fan. Each participant of the OVR Live Event will feel that the artist is performing directly in front of him. Moreover, artists will be able to communicate directly with fans in a much safer and more intimate environment than at a physical concert.
As is the case with real concerts, OVR Live Events often require the entry of tickets that require the passage of cryptographic non-interchangeable tokens (NFT). In addition, fans can purchase premium tickets with an increased level of service, which can offer exclusive rights, such as interaction with the artist, recording the event for publication on social networks or the opportunity to take photos. Fans can interact with each other using their 3D avatars, including actions such as “What should I wear to today’s concert?”
From the artist’s point of view, the options for creating a concert experience are limitless. With the help of augmented reality (AR), artists can add anything they can imagine to their shows. It can be a light show, animals, aliens, water, fire or whatever the artist wants. This will transform the living room, bedroom or any physical environment for fans of creative and mind-blowing augmented reality scenography.
OVR Treasure Hunt
Another option in the OVR app is the OVR Treasure Hunt. OVR Treasure Hunt offers similar features to the popular augmented reality (AR) game Pokemon Go. Users will use their devices to search for augmented reality treasure chests in their local environment. In addition, users can expand the map to view from a bird’s-eye view using the pink arrow. In addition, OVR Treasure Hunt shows a world map divided into OVRLands mosaic hexagons.
Users can use the map to follow the arrow to the hidden treasure chests. After detection, users can open the chest to get a random number of OVRokens. Since the game is constantly recorded in the blockchain in real time, users can check their profile to see the amount of OVR tokens earned.
Thanks to Unity3D, the experience gained in OVRLands can be implemented as an OVRE experience that can be bought and sold on the platform. Unity3D, in addition to other leading 3D development environments, was used because of its leading “versatility, distribution, and ability to manage cross-platform compilation of projects”. In addition, the technology is designed for full compatibility with smart glasses and mobile devices.
OVRExperiences can be bought and sold through the OVR Marketplace, while transactions are protected using smart contracts. In addition, asset storage is simplified on IPFS OVRNodes nodes. Using the OVR Software Development Kit (SDK), creators can create unique opportunities and sell them to potentially earn passive income using cryptocurrency.
OVR aims to be a fully community-oriented application where everyone can create, design and share their own creations. So OVR created OVR WebGL Builder. OVR WebGL Builder is currently in beta testing, is available only in web browsers and is intended for non-programmers and non-technical users. Users can upload or create their own 3D content for their OVRL and without having to be a professional 3D developer.
The simple user interface offers users a choice: import a design from Sketchfab or create their own using the designer. In addition, OVR WebGL Builder offers users the ability to create accounts and log in both online and offline.
The OVR Software Development Kit (SDK) is available for users familiar with blockchain development. The OVR SDK offers users the ability to control the spatial boundaries and positioning of three-dimensional objects. In addition, the SDK includes gateway capabilities with Infura and several Oracle projects. Moreover, users can directly manage the resource limits provided by the OVR application.
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The OVR marketplace is an ideal place to explore the OVR ecosystem and participate in OVR auctions. This is a platform where creators can upload their OVRE experiences in augmented reality (AR). Moreover, OVRLand owners can access the OVR Marketplace to discover many augmented reality features that can be implemented to improve the OVRLand environment.
OVRLand can be purchased through the OVR Marketplace using its own OVR token. To do this, users must be familiar with the Web3 wallet, whether it is Imtoken Wallet.
The advertising era is slowly changing again. First, advertising media moved to the Internet, now they are moving to virtual and augmented reality (AR). Mobile, browser-based and social advertising are expensive and oversaturated. Thanks to OVRAdv, the platform offers a decentralized advertising infrastructure in which OVRLand owners can receive passive income with OVR tokens, including sponsored content in their AR capabilities.
Moreover, the use of advertising with augmented reality can be considered more attractive and, nevertheless, less intrusive from the point of view of the overall user experience (UX). Thanks to the use of blockchain technology, the execution of smart contracts and transactions are invariably stored and easily verified. This makes transactions between advertisers, sponsors, creators and hosts much more efficient and reliable with cryptographic terms of contracts between the parties.
OVRNodes are also responsible for moderation of activity, creation and management of a blacklist of addresses for any intruders. OVRAdv offers a fully decentralized advertising platform in a new interactive environment.
The OVR platform offers a wide range of augmented reality (AR) and virtual reality (VR) capabilities. In addition, OVR offers several ways to generate passive income. From treasure hunting with random rewards of OVR tokens, to hosting a sponsored advertising space and supporting the network as an OVRNode node , there are many ways to participate in it.
In addition, OVR WebGL Builder allows users with no programming experience to create and sell their own resources and augmented reality capabilities. OVR Live Events, which host AR concerts, offers artists a new and more intimate way to communicate with fans. Artists can create any scenography at their will, offering fans a new exciting virtual concert.