What is VR Park?
The VR Park project is a defining element in the development trends of VR technology and augmented reality. The general partner of VR Park is Psycho Technology, on whose technological and software basis existing interactive zones are built; it has a powerful intellectual base for development, modification and implementation of the declared products on the global VR industry market. Presently augmented (AR) and virtual reality (VR) is actively taking over the entertainment industry. Thanks to modern technologies, VR provides a completely new kind of interaction with the virtual digital world, bringing this direction to a new level of providing sensations and opportunities for the realization of creative ideas.
The Rockefeller Foundation estimates that the VR industry is likely to form a market with 100 billion annual turnover in the next 5 years. However, one of the key problems hindering the full development of the technology is the lack of quality content for VR equipment.
We offer a software and hardware solution, that will attract a huge audience around the world, to create and monetize high-quality VR content – the VR Park (Virtual Reality Park) platform. The platform combines smart VR parks spaces and SDKs for creating VR applications and a repository, so it unites developers and consumers of the content. The platform will be based on the Virtual Park Company technical base, which guarantees the realization of all the most advanced Virtual Reality technologies in the VR Park project. In addition, work has been carried out on the creation of special SDKs and APIs that would greatly simplify the creation of VR content and its integration, therefore it becomes possible to involve stakeholders in the development of the system. The unique experience of the Psycho Technology team helps realize the task. At the end of 2016, the work on technology that allows instantly transferring all human movements to the virtual world began, and after almost two years, the task is being implemented completely and uncompromisingly. Technological solution of Psycho Technology is a real breakthrough in the VR industry. Not just a prototype, but a fully working product with a qualitatively new level of user interaction with the virtual world, is available.
In December 2017, our first VR park in St. Petersburg, Virtual Park Company, was launched. In 2017, another 5 franchises were opened in Russia and Europe. Moreover, we have an understanding that our product is in demand throughout Europe and the UAE. Based on this, the plans of the companies VR Park for the next 18 months are the opening of 28 virtual reality parks in Europe, America and the UAE.
To constantly encourage the interest in VR parks from the consumer audience, new game worlds and different scenarios for applications are needed. Thus, the network of our own and franchise-open parks will provide a stable basis and will become the first customer of VR applications on the platform, immediately creating financial activity and turnover of fiat money on it. This will also be facilitated by a fund established by the project, which is formed in the amount of 5% of the funds raised during the VR Park ICO campaign, from which third-party VR application developers will be remunerated.
For the development and promotion of the platform on the market, an ICO fundraising campaign is being conducted by VR Park. The VR tokens released during the tokensale process will have the token utility function and serve as an internal calculation tool in the system. About 60 percent of the ICO funds collected during the tokensale will be spent on developing a network of own VR parks, which will significantly increase the overall demand for VR tokens and increase its liquidity, which will subsequently provide an incentive for other participants to join the platform.