WEARVR is an independent application store and virtual reality ecosystem. WEAVR was founded in 2014 and has its headquarters in Leeds, UK.
The platform supports creators of virtual reality and augmented reality applications as well as VR/AR headset manufacturers. It’s claimed that the positions of these stakeholders can be improved through the integration of blockchain and cryptocurrency technologies.
The intended result is to “create new content, reduce copyright theft and super-charge new business models within the markets.”
Enhanced WEARVR App Store
WEARVR is going to enhance its existing appstore – which currently supports 3,000 apps – by introducing WEAVE as a rewards mechanic. To further adoption, tokens will be airdropped to all of the platform’s users along with bonuses for content engagement.
In addition to enhancing its web store, a decentralized version of the platform will be launched on the Stellar blockchain. The decentralized store will have zero commission fees and will feature discounted prices for applications.
Once these initiatives are live, WEAVR will use its pooled resources to crowdfund virtual reality projects. Community members will then have a voice on what gets produced as well as a portion of the revenue generated from successful projects.
The platform’s other initiative is its mixed reality goods store that works as a secondary market for buyers and sellers. All transactions in the store are made with Weave as the exclusive currency and backed up with smart contracts to secure users assets.
WEARVR Developer Center
WEARVR also actively supports development on its platform through its Developer Center. This particular platform has an emphasis on exposing developer’s applications to a hot niche of VR enthusiasts.
Developers can enjoy a revenue share of up to 75% for launched products, as well as being part of one of the world’s largest virtual reality marketplaces across the world.
The developer center is also an active community of individuals who support each other and receive personalized support in marketing their creations to a wider audience.
Token Name: Weave
Total Supply: $960m
Tokens for Sale: $480m
Soft cap: $2m
Hard cap: $30m
Price: 1 Weave = $0.10 USD
Private sale starts: 12th September 2018
Public sale starts: March 2019
Use of Funds
Company Operations – 30%
Marketing – 30%
Tech – 15%
Content – 10%
Subsidies – 10%
Other – 5%
The platform’s whitepaper can be read here.