NetworkNewsWire
Editorial Coverage: Ever since it was introduced five years
ago, virtual reality (VR) technology has been underwhelming due to
the lack of content and the exuberant costs of headsets like
Oculus. But this year, the VR market could grow by 25 percent,
according to the Consumer Technology Association, thanks to new
products announced by Google and others in the tech world. VR
enthusiasts are also predicting that Steven Spielberg’s newest
film, which depicts a futuristic VR universe, could push the
technology into mainstream. However, the biggest boost to VR
technology potentially comes from the integration of blockchain
technology. This is where blockchain companies could bring the true
potential of VR into life. Companies at the forefront of this
technology include Victory Square Technologies, Inc. (OTC:
VSQTF) (CSE: VST) (VSQTF
Profile), 360 Blockchain,
Inc. (CSE: CODE), Hashchain Technology, Inc.
(TSX-V: KASH), BTCS, Inc. (OTC: BTCS),
and Marathon Patent Group, Inc. (NASDAQ:
MARA).
At the recent Game Developers Conference in San Francisco, tech
giants such as Facebook, Sony and Google all advocated for VR
technologies. According to Forbes (http://nnw.fm/RyP8D), the biggest takeaway from this
conference is that there was less talk about experimental VR and
more about commercial VR, such as in advertising. Clearly, the VR
market is on a trajectory into a new era. Based on reports from
Business Insider, it is estimated that the VR market will
grow from $2 billion to $27 billion between 2016 and 2022 (http://nnw.fm/Fc44G).
Recognizing that VR could finally become a mainstream consumer
technology, Victory Square Technologies landed a arrangement last
week to acquire 49% (percent) of Flo Digital Inc., a VR advertising
experience platform with access to over 200 million monthly viewers
across North America. Flo Digital’s VR network already spans
several platforms, including HTC VIVE, Google Cardboard, Google
Daydream, IOS, Android and Web VR. One of its latest VR projects
was a collaboration with Chrysler Canada, which allowed users to
virtually test drive the all-new Challenger.
Blockchain Unlocks Unreal Potential in
Advertising
In the realm of advertising, the promise of VR-based marketing
like the Chrysler campaign and its potential integration with
blockchain — an area in which Victory
Square Technologies (OTC: VSQTF) (CSE:
VST) is already an expert in — have
unreal potential. The company has already invested and incubated
numerous businesses in the blockchain tech space, but it also has
an existing VR project in the fast-growing VR gaming industry, so
it’s no stranger to either technology. Victory Square chose Flo
Digital, because it’s currently building out the first-ever
blockchain-based VR advertising technology platform.
According to experts, a VR-blockchain combination could spark a
digital advertising revolution by solving many common problems
encountered in this space such as data transparency, ad fraud and
misuse of money spent on advertisements. A possible solution is for
platforms to record and measure people’s interaction with VR ads
and make payments to content owners accordingly. The whole process
could be done on blockchain’s secure, accurate and transparent
curation of data, saving money for all involved.
Procter & Gamble made headlines last year for threatening to
pull $2.4 billion in ad spending because of ongoing ad fraud and
transparency issues, even calling out its partner Facebook.
P&G’s chief brand officer Marc Pritchard stated at the time:
“There is, we believe, at least 20 percent to 30 percent of waste
in the media supply chain because of lack of “viewability,”
non-transparent contracts, non-transparent measurement of inputs,
fraud, and now even your ads showing up in unsafe places.” The
solution to this is a combination of VR (better user experience)
and blockchain (transparency).
Google is already encouraging developers to work with a VR
prototype to replace traditional advertising, and so have Apple and
Microsoft. This presents a big opportunity for companies such as
Victory
Square Technologies (OTC: VSQTF) (CSE: VST) with
strong footprints in both VR and blockchain to make a technological
breakthrough with its potentially first-of-its-kind Flo Digital
platform.
Commenting on its newest VR-blockchain acquisition, Shafin
Diamond Tejani, Victory Square CEO, said: "Flo Digital has a proven
track record of providing cutting-edge and immersive VR/AR
experiences to leading brands that include Chrysler Canada, Warner
Bros. and Rogers Wireless, to name a few. It is this calibre of
customers and execution that makes the entire team at Victory
Square eager to work with Flo Digital on their next stage of
growth.
"This represents another investment in the VR/AR industry and
further illustrates our thesis that blockchain technology will
disrupt the existing landscape in ad tech and ultimately change the
way brands will connect with their customers," Tejani added.
Other Players in the Blockchain Space
360 Blockchain (CSE: CODE) is building an
all-round blockchain ecosystem that includes cryptocurrencies,
smart contracts and data management. In December, the company
announced its intention to invest in Arcology, a platform that uses
machine learning and pattern recognition technology to create
hierarchical blockchain structures. Recently, 360 Blockchain
completed its acquisition of a 60 percent stake in SV CryptoLab, a
Silicon Valley-based crypto facility.
Hashchain Technology (TSX-V: KASH) is the first
public cryptocurrency mining company to file a final prospectus in
Canada supporting highly scalable and flexible mining operations
across all major cryptocurrencies. Last month, the company
completed the acquisition of NODE40 LLC, which comprises a team of
experienced blockchain experts and software engineers.
BTCS (OTC: BTCS) is one of the first public
companies in the United States to be involved with digital assets
and blockchain technologies. The company plans to create a
portfolio of digital assets including Bitcoin and other "protocol
tokens." It has an agreement in place to merge with Blockchain
Global Ltd., an Australian blockchain company.
Marathon (NASDAQ: MARA) is focused on acquiring
patents and patent rights from individual owners and Fortune 500
companies. The company monetizes its portfolio by entering
licensing deals. Earlier this year, Marathon entered a purchase
agreement to acquire four patents related to the transmission and
exchange of cryptocurrencies between buyers and sellers.
Spielberg’s New Film Could Ignite a VR Tech
Fever
Although VR technology is still at an infancy stage, it is also
about to receive a big lift in the real world thanks to Steven
Spielberg’s highly anticipated ”Ready Player One” — centered around
a utopian VR future — hitting theatres on March 29. Like previous
Hollywood releases that have produced remarkable marketing results
(i.e., The Blues Brothers was credited for boosting
sunglasses sales in the 1980s), this film will give the audience a
grandiose visualization of the infinite possibilities created by VR
technology, which transcend real-life experiences, potentially
helping to ignite a VR fever that already seems to be gaining
traction.
This signals an ideal time for companies to delve deeper into
this tech space, much like Victory Square Technologies has just
done with the Flo Digital acquisition. Now that Spielberg’s next
big release is set to become a big marketing campaign for VR, the
next step is to realize the technology’s true potential in
advertising through the help of blockchain.
Imagine a platform that charges advertisers solely on the amount
of time consumers were immersed in the VR content and rewards
content producers accordingly, with all transactions safely
recorded on blockchain. A VR-blockchain integration could finally
eliminate the 20 to 30 percent waste resulting from inefficient
advertising, and Victory Square Technologies could be the one to
bring that kind of platform into life.
For more information on Victory
Square Technologies Inc. (OTC:VSQTF) (CSE:VST), please
visit StreetSignals.com for a free research
report.
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