The virtual reality social platform company, High Fidelity, announced the launch of Avatar Island, a virtual reality domain that will register in a blockchain platform the purchase and sale of items for avatars in exchange for an internal cryptocurrency.

The information was made public through the company's official blog. So far there are over 300 items that High Fidelity users will be able to purchase for their avatars in the Avatar Island virtual world. The products offered have been created and supplied by digital designers from different parts of the world, who will also benefit from the sales of their virtual products thanks to High Fidelity's cryptocurrency, the HFC (High Fidelity Coin).

Each of these articles will be identified by a unique associated algorithm and represent the first assets registered in the company's blockchain platform: Digital Asset Registry (DAR), which in turn is the first of this type of technology to be applied for virtual world trade and will allow users to have absolute control over their information.

This blockchain platform, which will be independent of High Fidelity, will use Proof of Origin (PoP) for the immutable and secure storage of transaction history, certificates of ownership of the items and their characteristics. In addition, this test will also allow users to categorise products, such as clothing and accessories, according to a particular theme.

The company called on its users to participate in the beta testing phase of Avatar Island (those who do so will get HFC cryptocurrency) and to place items for sale on the High Fidelity Marketplace.

Among the long-term plans, High Fidelity envisions the possibility that purchases on Avatar Island can be connected to real-world purchases, so that a particular item purchased for an avatar can be obtained in a real store with a purchase record in the virtual world. They also aim to offer other services such as identity control.

It should be noted that the application of blockchain technology has been associated with virtual reality on other occasions. Similar to Avatar Island, Decentraland: an open source protocol created to explore shared experiences in virtual reality, where participants can have properties such as land, emerged. In addition, beyond entertainment, Mandel Duck launched Bitcoin VR, a blockchain browser that uses virtual reality to portray it as a physical place, in April of this year.

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