John Bejakovic (CoinWatch): Can you tell me what big problem is VRT looking to solve?
Konstantin Negachev (VRT.World): Actually the time intensiveness and complexity of content production requires expensive equipment and software to which some developers cannot gain access. As a result the increasing demands of high quality VR content has yet to be met. Right now the market is hungry for a good quality VR contents consumers are constantly demanding more and more all the time and developers need to be able to make applications easily, quickly, and for any device. So that’s where we come in.
John Bejakovic (CoinWatch): Basically you’re gonna be kind of a platform where the businesses and the developers and players are meeting.
Konstantin Negachev (VRT.World): Yes exactly.
John Bejakovic (CoinWatch): How big of a market is this potentially for you?
Konstantin Negachev (VRT.World): So actually there are a lot of problem inside of these markets. For example, currently our company is preparing to launch our blockchain platform that will unite VR developers from all over the world and give to them access to technological solutions required to create their own products. Soon regular users will be able to visit an area or park featuring VR games and products created by those developers from our platform. So VRT is the solution to all of the market problems in VR.
John Bejakovic (CoinWatch): Do you have an estimate of how big this could essentially be in terms of dollars per year?
Konstantin Negachev (VRT.World): If we speak about the market, actually a lot of research for example from Goldman Sachs, which is like the most negative one. They think that’s in 2020 the market for VR will be not less than 18 billion dollars and the big amount of that, around 19, will be based on gaming sector. So actually the market is huge and it’s very potential because there are a lot of ways where technology can be useful. For example, education sector, real estate sector, military sector. We can even get inside of the virtual reality with our special tracking system whilst dancing for everyone, so market is very huge.
John Bejakovic (CoinWatch): I’ve seen a lot of a lot of activity in the VR space and blockchain space together. So can you tell us what sets you apart from other companies that might be trying to bring together the virtual reality and the blockchain? What’s different between you and other solutions in the market?
Konstantin Negachev (VRT.World): So actually there are a lot of difference between us and other competitors. For example we actually don’t have any competitors in the sphere of the platform that are developing similar products. In the sphere of tracking system that we have created we have maybe five competitors all around the world but our solution is the cheapest one and we work with the most innovative hardware. For example this technology called full-body tracking VR technology and it’s based on an inverse kinematic algorithm and the use of human body movement transfer is achieved through the use of minimum numbers of active markers. Six active markers are enough for one player and the distinct pitch feature of this technology, that’s this kinematic algorithm traces the movements, not one but several players. in the same time. For example now we are we having working park in Moscow. The playing area is 120 square meters. Inside of it four people can play in any scenario that we created together. They can even dance. Moreover this algorithm autonomously calculated the trajectory of player movements and joint rotation consistent with human anatomy. Also we spend an enormous amount of time capturing thousands of possible moments and mastered the transfer of those whole body movements in the virtual reality. As I told you we can transfer to VR everything from dancing to some kind of military operations and so on. Another problem that we have here is, for example maybe know something about the synchronization with the vestibular apparatus of the player. When you use VR it’s one of the biggest problem here and VRT is one of the first project in the world to provide a solution to this part to the problem. So our active markers technology guarantee that the human body kinematics that transferred with maximum accuracy while maintain a comfortable user experience.
And again it can be useful wherever you want. For example now we work a lot with the real estate sector. For example you need just 50 square meters, inside of it you can show to the few people in one time a lot of flats, a lot of offices, and inside of that they can even change everything inside. For example you speak about apartments they can even change the place of the kitchen. Maybe they don’t even want to see it in the one corner. They want to change this corner or maybe they want to change the bed or maybe they want to change to change the color of everything inside of it.
John Bejakovic (CoinWatch): Tell me a little bit about the company and your team specifically. So what experience does your team have specifically in working with VR?
Konstantin Negachev (VRT.World): Cofounders of VRT project are me and my classmates. We started working in the IT sphere as soon as we finished school, so it was ten years ago something like that. And we gained vast experience in developing complex non-standard solutions for banking and financial companies, developing several mobile applications for personal use. A few years ago we decided to try ourselves in development of VR content and we have made a big push since that time. We established good business relationships with many developers, most of them become our colleagues on a constant basis. So I think we have a lot of the years of experience and we actually work with all of the sphere in IT. We even can create in our IT company simple websites but we specialize again on the custom solutions. Also in our technical partners and a few projects which will into ICO, one of them based on augmented reality technologies. Name of this project is Arround and we’re advisers this project as well. Next to them based on verification of banking data. It’s very nice too. All of these projects are from Russia.
John Bejakovic (CoinWatch): You mentioned you’re advising an ICO, you’re you’re advising another project. Can you tell me about the advisers who are advising your ICO?
Konstantin Negachev (VRT.World): The advisory board of the project consists of of leaders, experts in blockchain, IT, VR, marketing, franchising and game design. For example, one of our advisers is Eric Benz, he’s managing director at Cryptopay, one of the largest Bitcoin exchange and merchant system in the United you European Union and UK. Also we have Marco Sacco, he’s the president of EuroVR, the European Association of Virtual and Augmented Reality. Also we have Francois Asseman, he’s head of the branch of Optitrack. This company create for us and not just for us tracking cameras which we need to set up around the area where we want to do any virtual scenario and so on. Also one of the stars on our advisory board is Yehuda Levi, he is CTO in Bancor network, maybe you’ve heard something about this project. Also one of the great advisors on our advisory board is the cofounder of Singapore Bitcoin Club one of them is Peter Sin second of them is Caleb Yap. Also we have like one of the greatest crypto ladies in the world, Daria Arefieva, she is one of the owners of CryptoFriends, based in St. Petersburg in Russia and they are doing a lot of conferences, special meetups all around the world. Also we are in connection with a lot of other persons who want to sit on our advisory boards but I can’t tell about them before we sign all agreement with them.
John Bejakovic (CoinWatch): I saw you guys already had a pre-sale where you managed to raise quite a bit of money. Do you have other significant investments into the company besides the ICO?
Konstantin Negachev (VRT.World): Actually we had two stage of pre-sale. First of them finished in the end of the September so it was in September. At that stage we raised around $350,000. On next stage which finished in the start of the January we raised more than seven hundred and thirty thousand. And actually from this amount of investments part of them we got from one of our partner, from the person who bought from us master franchise for the VR Park for the European Union, North Africa, Middle East. By this franchise, during next 18 months 3 parks will be opened. So actually this very big amount and we will launch our MVP of the platform very soon maybe in a few weeks and the first payment on this platform was exactly for the master franchise. Also of course we have few investors, actually they’re from Russia. That’s the person with whom we work for a long time and they know that we are good developers that we are good team, very perspective team and they believed in our success that’s why they get big amount of investment, but actually I can tell you the amount of it.
John Bejakovic (CoinWatch): You mentioned the MVP is going to be launching soon can you tell us a little bit more about the details of that?
Konstantin Negachev (VRT.World): It will be a small version of the final platform. For example, any buyers of our franchise can pay part of the amount of price of the franchise in the tokens. Also everyone who wants to pay for master franchise or for gain can get inside of this platform and buy for example tickets with the tokens to the parks.
John Bejakovic (CoinWatch): I understand in general how you’re using the token itself but can you walk me through why you specifically need a token and how it’s going to be used inside your platform?
Konstantin Negachev (VRT.World): Actually one of the fundamental elements of the VRT World project is reliance on blockchain technology. This provides for transparent transactions between parties without third party intervention and opens the door to a world of possibilities. As developers our life of worrying over copyrighting, profit sharing, and overhead costs they are freed up to offer new, more innovative uses of the virtual reality technologies and with our ecosystem we tokenize the VR actually. With the use of VRT token the customers can create content, buy assets and different elements of the content development for example. VRT token can also be used for admittance to our parks all over the world and as I told you the lump sum contribution for the franchise can be made in our tokens too. And the license fee that we are taking for creating new content for franchisee as well.
So customers can buy anything on our marketplace, can take parts in voting for the best dev team or best project. Every ecosystem member can be involved in VR creation process just by using VR tokens. This is a part of be use of it.
John Bejakovic (CoinWatch): What about the token sale itself? It’s happening in about two weeks but what are the specifics of that?
Konstantin Negachev (VRT.World): The token sale will start on 14th of March and will be closed I believe faster but on the 13th of April. The soft cap there is $3.43 million and the hard cap is $16 million. We are a ERC20 standard utility token. Total supplies 100 million tokens and the price final price is one dollar or one VRT token.
John Bejakovic (CoinWatch): Is there any kind of whitelist that people have to get on?
Konstantin Negachev (VRT.World): Sure right now whitelist is available and the whitelist discount will be a little bit more. right now it’s 25 percent. Without whitelist first few days will be 20, then 10 and then one by one.
John Bejakovic (CoinWatch): What happens after the ICO? If everything goes well, what’s your road map after the ICO?
Konstantin Negachev (VRT.World): Actually our road map is huge. In 2018, in the second quarter of 2018, we plan to launch three or five VR parks, it’s minimal amount of of them. Also we will finish implementing the blockchain platform by then and we will start to use inside of this platform blockchain for control all financial operations. Because the biggest problem in this sector of franchise businesses it that the owner of franchise really doesn’t want to show whole revenue to the head company because if you will show whole revenue he will need to pay whole award for the head company.
So for example if someone will go to the park and pay with the cash it may happen that the owner of the franchise won’t show this money. So here without a certain smart contracts game won’t be on. We will complete the connection our park with this system in the second half of 2018. And also we will start to transfer our new games to the gaming consoles and the PC because right now the game that we created can be used just in our parks but for users at home you need to give a very very very big playing area and I think not a lot of people would have it.
In 2019, by the end of 2019, together with our partners we will establish an eSports league to promote eSports with VR technologies. We plan to organize international eSports competitions with large prize pools, with media coverage, and involvement of professional gamers for further promotion of this genre. And in the 2020 in order to further integrate into the gaming community we’ll create our own streaming platform specifically for VR technologies. By the end of 2020 this technology will be implemented as an add-on to the VRT platform and will give the illusion of taking part in the eSports competitions.
John Bejakovic (CoinWatch): The token sale is coming up in two weeks. If somebody is investing in VRT World, what should they do right now?
Konstantin Negachev (VRT.World): The person has to do several simple steps. First register a personal account at our website it’s http://vrt.world/ but we will update it soon. I believe that it will happen on next week. It’ll be like a huge updates it will be absolutely new website with amazing design and so on so. Then they will need to click buy the VRT token and having chosen the payment method. cause we have a few payment methods inside of our personal accounts. Then configure in the pop-up window that you are not a US or Singapore citizen. After that make a deposit to the shown address and pass KYC to be eligible for a token distribution. After the token sale of course the token will be distributed to your private wallet address which can be specified in your profile.
John Bejakovic (CoinWatch): So basically the first step is definitely to go to your site.
Konstantin Negachev (VRT.World): If someone will have any questions he can even join our telegram chat channel, Facebook, whatever, and feel free to ask any questions. We have a lot of amazing community managers who will be able to answer all your questions.