Take A Ride In The World's First Crypto Car To Feel The VR Racing Experience
What is VR (Virtual Reality)? It is an advanced technique which simulates the image or environment in 3D (Three dimensions) form so that the users will get a near reality experience. Let’s imagine that you are watching a video on wild animals. You won’t feel any difference if you watch the video on your TV screen/ mobile/laptop. But, if you are watching the same video using a VR headset, then you will feel that you are in a forest surrounded by wild animals. That’s the great feature of the VR technology.
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Even though VR is used in a lot of fields like education, medicine, movies etc., it is most popular in the gaming industry, because VR has brought the gaming industry to a much higher level when compared with the past. Based on the report by SuperDataResearch, the total revenue of the VR gaming industry was close to 200 million USD in 2017. And, it is predicted that this figure will go up rapidly and will reach at least 2 billion USD by 2020.
Now, let’s take a look at the blockchain technology. Bitcoin was only seen as an alternative to the fiat currency for making payments across the world. But, the launch of Ethereum has entirely turned the digital world upside down as it is seen as a disruptive technology and not only as a cryptocurrency. What will happen if you create a partnership between the most innovative VR and most disruptive blockchain technology? Sounds exciting? That’s how CryptoCarz is born. CryptoCarz is a VR enabled racing platform using the Ethereum based blockchain technology which is developed by the company named Blockchain studios.
How will CryptoCarz be different from a traditional racing game? It is a multiplayer racing game in which the gamers have to load their cars from their private wallet. Every car model owned by the gamer will be unique and stored as an ERC721 Ethereum token. As the company will be selling only limited quantities of the car assets, it becomes a precious digital collectable and will get a high value. So, the car owners have the option to trade the cars and earn revenue in future. Each car model will have different characteristics which will be reflected in their performance. And, the car owners have the option to change the components like engine or suspension whenever they feel using the tokens. To learn more information about CryptoCarz, kindly visit the Website, Telegram, ANN/Bounty Thread to know more information about ERC721 tokens.
What is the significant feature of the ERC721 token? These tokens are not usual utility tokens, but it belongs to the category of NFT (Non- Fungible Tokens). NFTs can be defined as pieces of digital content that are unique. Unlike the traditional tokens, NFTs are not available in large quantities, but only available as a fixed number. Among 100 NFTs available on the Ethereum blockchain, ERC721 is the most popular and widely used token. In CryptoCarz, ERC721 tokens will help the owners to get more control over their assets. That’s why the minting mechanism of ERC721 tokens is controlled by the game developer and not the smart contract code.