With the rapidly growing cryptocurrency market, many firms have come out with different ideas that incorporate cryptocurrency in them in some capacity. For example, recently announced ‘KODAKCoin’ is a new cryptocurrency that’ll be used in Kodak’s new platform that’ll make licensing easier for photographers. The photographers will receive/make payments using the new cryptocurrency. Vibehub is another example of a cryptocurrency based service.
Vibehub is the world’s first Crypto based Virtual / Augmented Reality Marketplace. It’s a unique project which tries to tap into the relatively new but rapidly growing industry of Virtual Reality. With estimates showing that the VR industry will grow over 100 billion dollars by 2020, Vibehub could be one of the first to tap into the potential of the industry and perhaps become a giant in their own right.
What does it do?
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Vibehub aims to make interaction in VR a possibility. It’ll allow artists, teachers or anyone who has a VR setup to “stream in VR” and thus reach out to millions of viewers through one stream. Vibehub will have high-performance servers which will help support large audiences for individual streams. The concept is unique because it’s something that hasn’t been thought of yet, let alone being implemented.
The system uses the Blockchain network, the highly popular and trusted network used by many cryptocurrencies including Bitcoin. Users of Vibehub will have to use the Ethereum network to complete microtransactions on the platform.
What it has to offer
- Monetization: Vibehub will serve as a means to monetize digital assets in the Virtual World using volumetric video and other virtual assets.
- Online Exposure: Or as Vibehub calls it: “Giving you a voice amongst the masses”. This will help users reach out and spread their ideas/messages across the world in a unique way. According to Vibehub, the platform will also allow users to explore unique marketplaces and hubs that will help them promote their product much faster than normal by avoiding “unrelated tags and topics”.
- No Hidden Charges: The platform uses “Blockchain and off Blockchain solutions” which helps it make the process of making micro transactions a smooth and fast one. All the transactions are instant and sending or receiving payments from anywhere in the world can be done within minutes. This is where cryptocurrency comes in handy as cryptocurrencies using the Blockchain network are extremely fast in completing transactions compared to conventional ways. It’s a smart move to use cryptocurrency given its advantages and the fact that a lot of people know what cryptocurrency is now.
- Online shopping platform: Perhaps one of the best things about Vibehub will be this. Vibehub will act as a marketplace for you to purchase services ranging from music, education to even gaming. Vibehub even acts as a dating platform that allows you to create virtual avatars or meet real people online. All the services come under one platform and one currency (more on that later).
- Secure: Vibehub executives have laid emphasis on the fact that their software that runs the AI is constantly monitored and tested for any problems. A secure platform is a must because not only will it have a large number of users but it also has a cryptocurrency. Due to the rising popularity of cryptocurrency, many crypto exchanges and platforms have been attacked by groups of hackers, therefore, security is the top priority in order for Vibehub to prosper.
- An immersive Social experience: The Vibehub platform lets people express their creativity in the virtual world like never before. It lets individuals share their experiences with many other people around the world, it’s streaming but VR.
- Fairness towards Publishers: Vibehub has been designed to make sure that content creators get their well-deserved money for the content they create. Therefore, all proceeds from their content will go directly to the publishers according to Vibehub. Moreover, Vibehub also has revenue sharing opportunities for collaboration content they will produce.
As mentioned earlier, the platform uses a currency. It’s their own cryptocurrency known as VIBE tokens. You can purchase VIBE tokens using your Ethereum wallet and then use these tokens to purchase anything from education to music to gaming to virtual assets.
In order to attend VR concerts or anything listed in the above photo, one must use the VIBE currency to attend said events. VIBE can also be used to vote on the digital platform as well.
How does it work?
VibeHub focuses on Virtual Reality. It will also focus on Augmented Reality in the future as the technology becomes more mainstream. Vibehub captures the streamers actions using volumetric videos.
This technology creates a hologram of the person in the stream and places the hologram of that person and whatever they’re doing in a custom VibeHub VR environment.This helps create an immersive environment never seen before. If you don’t own a VR or AR device, fret not as you’ll still be able to enjoy what Vibehub has to offer (in a less immersive experience) through modern browsers thus no one is left out.
VibeHub is partnered with some of the finest VR hardware and software developers such as Microsoft Hololens, Unity, PlayStation, Samsung Gear VR and much more. This will enable VibeHub in carrying out its aim to produce VR interactions.
VibeHub plans to partner with Monster Inc in order to make products based on VR/AR technology. Monster has a lot of experience in the field and will be able to help the budding VibeHub immensely. VibeHub is also looking to capture Holograms of mainstream artists. This will help create virtual environments that will help customers enjoy virtual performances from their homes. Here’s their roadmap that has followed through 2017 and looks to now accomplish the goals set out for 2018.
How to buy VIBE tokens?
They have a detailed guide for people using different wallets. Click here to access it from Vibe.io’s official website.
If you’re a Binance user, you can easily get your hands on VIBE coins as Binance has now included this new cryptocurrency in the list without any delay.
The idea behind VibeHub is unique and could definitely become the future of entertainment and education. However, it’s hard to execute. If VibeHub is able to execute it properly then it could become a giant in the VR industry as it’s multiple things that come together on one single platform.