The coronavirus pandemic has led to many suffering, and many businesses had to file bankruptcies and shut down. However, it has also created opportunities for many industries. The global mandate to stay at home to prevent the spread of the virus has greatly increased online traffic. This is why companies are creating brand new technologies that will allow them to deliver next-generation products and services.
And this is where real estate on blockchain comes in. Transmira, Inc. has developed and will soon offer Omniscape, an experiential reality (XR) platform that creates 3D twin versions of real-world buildings, properties and geography that allows for people to buy virtual real estate and monetize it. For a very small amount of of 2 to 3 USD, users can buy virtual real estate and own it for two years, much like a domain name. Users earn when brands want to advertise on their virtual property or they can resell it for a higher price. For instance, one can strategically choose to buy a piece of a stadium because it is a popular place for advertisers. Not only individual users can monetize it, but brands can also advertise on Omniscape and get very specific and useful data about their market.
“We basically blend augmented reality and virtual reality together, with a focus on location to basically help businesses and brands connect with each other and provide really cool, amazing experiences for consumers that they can obviously have fun with, but they’re also monetized. So the idea is to basically help, again, businesses and brands drive traffic to stores and give consumers fun and interesting experiences,” Robert Rice, founder and CEO of Transmira Inc. and developer of Omniscape, said during an episode of CoinGeek Conversations.
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All in-game moves and actions are immutably and chronologically recorded on the Bitcoin SV blockchain, an infinitely scalable network that can handle big data and microtransactions. Recently, the Bitcoin SV test network broke records with its 16.4 million transactions in a single block. Fees currently average 0.0067 USD per transaction—a tiny amount that users will not even feel and is very cost-effective for start-up firms such as Transmira.
“Let’s say there’s three people sitting on a couch watching the football game and the Doritos commercial comes on TV, we can deliver a different experience to each one. Maybe I’m getting the free bag of Doritos, the guy next to me is getting an offer on Dr. Pepper…. Now that I can deliver it that way, I’m also getting data back,” Rice explained.
Transmira plans to use this data to provide advertisers with specific consumer insight per individual. And because data is all recorded on the blockchain, advertisers know where their money is going. For instance, Starbucks can create a marketing campaign by plotting coffee cups on the certain locations, which can act as discount coupons in their stores. Transmira can then tell Starbucks the actual number of coupons that were redeemed and used, as well as data about the individuals who actually used the coupons in the real world. This is revolutionary in that advertising can be more targeted to benefit businesses and brands.
But a disclaimer must be said before this article ends about virtual real estate on blockchain. Not all blockchains are stable and scalable enough to handle complex applications and platforms such as Omniscape.
“There really is no choice when you compare the technical pieces: the size, speed, scale, cost; you’d have to be an idiot in my industry to do something else that’s not Bitcoin SV,” Rice said.
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