TERRA token will power Terra Virtua’s ‘Netflix for VR’

Games industry veterans with experience working for Sony, Microsoft, THQ and Electronic Arts are coming together to deliver a new subscription-based virtual reality entertainment platform underpinned by a blockchain economy.

Terra Virtua touts itself as a ‘Netflix for VR’ that will apply a subscription model to provide “a completely new category of virtual reality experience that brings together VR gaming, social experiences and spectator events in one entertainment platform”.

The virtual experiences the service will offer will be further added to by an Augmented Reality (AR) application, that will connect with Terra Virtua when users are on the move, providing a social experience that underpins the community and allows players to collaborate and form their own sub-groups and teams via their smartphones.

That all sounds interesting enough in its own right, but the TERRA (TVT) token that will drive Terra Virtua’s blockchain-based economy is what should be of real interest to the crypto community. The entire internal economy of Terra Virtua will be blockchain-based, with TVT driving the purchase of in-game items, skins and experiences – as well as providing the payments system for content creators who sell games, events and services through it.

Gary Bracey, CEO and co-founder of Terra Virtua said: “I have been involved in producing and developing video games for over 35 years and the industry has been talking about VR for 25 of those years. In all that time, nobody has cracked VR with a mainstream product. This is partly because the hardware has historically been difficult to set up, but mostly because the experience isn’t as good as regular 2D games. The gameplay is not as varied, it’s not as easy to play with your friends and it doesn’t offer enough to come back for more. We are going to change this with Terra Virtua, by offering an entirely new type of entertainment platform.”

Alongside Bracey on the Terra Virtua team stands Chief Stategy Officer and co-founder Peter Bergstrom; Chief Technology Officer Kish Hirani, former Head of Developer services for Sony PlayStation and PlayStation VR; Chief Operations Officer Doug Dyer, a PC, console and mobile industry veteran formerly of Microsoft Game Studios and the founder of Warner Bros. and THQ’s mobile games divisions; and Director Keith Ramsdale, games industry veteran and former key executive at Electronic Arts. Blockchain consultancy comes from Sergiy Khandogin, of Innovecs Ltd, an American-Ukranian company operating out of Kiev.

The platform is currently inviting potential developers to join up to its alpha testing phase. This will afford them the opportunity to tune their upcoming releases for the new portal, and examine the opportunities to monetise their creation via its currently unique distribution platform, which will see them paid immediately based on audience consumption.

“With Terra Virtua, we are fusing the very best of VR and AR entertainment with the TVT token economy, providing a fantastic opportunity for those looking to contribute to the evolution of the platform,” says Terra Virtua’s Peter Bergstrom in the company’s press release, “as well as those looking to market their digital products and services to a global audience in a global financial ecosystem.”

You can see more on Terra Virtua at its website, and also register interest in the TVT token sale. Pre-sales for that will commence on 26th March 2018, with the ICO expected in April.