CoinMarketCap takes a deep dive into Victoria VR (VR), a platform that claims to be the world's first realistic metaverse and plans to launch a global virtual revolution.
Victoria VR (VR) is a universal metaverse platform that involves decentralized applications and virtual reality where everyone has the ability to do anything. The project aims to take the concept of virtual reality to the next level by creating a “3D internet,” a world that is fully owned by users and the community.
It is built on Unreal Engine, which is a popular game engine developed by Epic Games. The Victoria VR metaworld offers an un-ending show of games, adventure, experiences and rewards for its users.
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A Meteoric Rise In the World Of Metaverse Tokens
Following in the footsteps of other metaverse tokens such as MANA, SAND, GALA and many others, the Victoria VR (VR) token enjoyed a meteoric rise after it was launched on Kucoin. The VR token skyrocketed to an all-time high of $0.499173, which is 169 times its starting value of $0.00295, as per DAO Maker. The allocation of $200 to the participants of DAO Maker’s VR allocation event, went as high as $27000+. After the short sell-off, the VR token skyrocketed again and now its new ATH stands at $0.7118, according to CoinMarketCap data.
How Does Victoria VR (VR) Work?
The VICTORIA VR World was built from the bottom up to allow users to create their own worlds and to survive and live independently of their creators. All authors and active users are paid on a regular basis and equitably for their contribution — including votes, reviews, completing Quests, staking VR Tokens and receiving random airdrops.
The goal behind this project as outlined in their official whitepaper is to educate and attract the gaming community towards cryptocurrency by demonstrating the benefits of cryptocurrency.
Victoria VR (VR) plans to build the most important marketplaces for NFTs as a result of virtualization where users would be able to create NFTs Tokens as well as trade them from other online platforms.
Ecosystem Of Victoria VR (VR)
Quests
One of the most significant aspects of the VR World is quests. Completing them is a productive exercise for users as it opens up new and innovative opportunities for engagement and information exchange. Users receive a variety of really rare products as a result of Quests, which encourages them to keep participating so that they do not lose out on several opportunities. Quests will have a time limit or a maximum number of successful players. Users will explore the benefits of VICTORIA VR and virtual reality in general thanks to Quests, which will open up new opportunities for them.
Elements and Resources
On the side chain, there are endless and unmined ERC-1155 non-fungible tokens (NFTs). Resources are required for the construction of structures and the production of objects (other NFTs).
According to the five main elements, there are five resources: wood, fire, sand, iron and water.
Resources can be mined manually or automatically, using special structures, mines and other mining-related equipment. They can also be purchased in the secondary marketplace from other users (TheBigMarketVR) or straight from the central storehouse in the event of a scarcity.
Avatars
Avatars have realistic graphics and are totally customizable. This enables users to build almost anyone. Each avatar is represented by an NFT and users are allowed to have multiple characters. Finishing Quests or competing in competition will grant users exclusive personalized features.
Wearables
All wearables are registered as NFT tokens on the blockchain. Quests, competitions and TheBigMarket VR are all places where users can get wearables. Some wearables are extremely limited, while others provide avatars with unique skills.
Items
All of the items are blockchain-based NFTs. Mining tools, keys to breaking various locks, treasure maps, guns, automobiles, flying boards and Aladdin's magic carpet are examples of items that can be deployed as decorations or directly as tools.
The Team Behind Victoria VR (VR)
- Ondřej Dobruský — CEO & Co-Founder
- Adam Bém — COO & Co-Founder
- Adam Slezák — CIO
- Jan Herman — CFO
The team has employed this 69 game developers since starting out in 2018, and will hit 150 in mid-2022. The full team encompasses talented members with roles ranging from programmers, level designers, 3D generalists, story writers and more. For a complete list of VR team members, click here.
Victoria VR (VR) Roadmap
After a very successful ICO launch, the VR project plans to launch the VR Gallery, virtual lands auction in the metaverse, and many other upgrades outlined on their official website.
Unique Features of Victoria VR (VR)
NFT Paradise
NFTs in VICTORIA VR are promised to be ground-breaking — elevating NFTs and their trading to new heights. Users can view 2D NFTs in 3D space, as well as any other 3D object, and are also capable of making their own NFTs in Virtual Reality. Some NFTs can grant users true superhuman abilities in VR, while others can grant them VR tokens or even more NFTs.
The Big Market VR
Big Market VR is a smart contract-based decentralized marketplace, also referred to by the VR team as the world's largest blockchain asset exchange (NFT). This is a place where you may exchange almost anything. Auctions can be called up, and users can request unique items.
It is a place where, leveraging on virtual reality, you may see the offered objects in space and enlarge or diminish them as desired; the marketplace will also be accessible in a web browser. VR land, objects, resources, XPs (experiences) and other items from other worlds can all be traded here.
VR Lands
VR Lands are non-fungible tokens (NFTs) with a finite supply and they are available for purchase at auction or from other players. Auctions begin one month after joining the exchange, and 8 new VR Lands will be auctioned off every week.
The VR Land's owners have complete control over it, and each VR Land has a set maximum construction height. Located close VR Lands can be united into one to raise the building's maximum height.
VR Lands can be utilized to build:
- Utility buildings in the game (mines, warehouses, etc.).
- For the purpose of renting to other users.
- Presentation structures (shops/stores, showrooms, etc.).
- Private structures (clubhouses, private enterprises, etc.).
- For the sake of speculation.
- As a portal to another world, a video game, or a virtual reality experience.
In an interview with CoinmarketCap, the Co-Founder & Chief Executive Officer at Victoria VR, Ondřej Dobruský was asked about Victoria VR’s upcoming land sales and how would they be different from Decentraland and Sandbox? The CEO of VR replied by saying:
‘’We have a completely different product! Our lands have special abilities. In our world, there are 5 main resources you will need all the time. You can mine them automatically by buying special modifications on your land. So you can create a passive income with them. Some of these lands will give you minings bonuses ( for example +30% sand, +80% water ), etc. Some of these lands are not empty and you are getting them with buildings on it, or misters boxes!’’
Ondřej Dobruský also mentioned that further details about the VR lands will be announced by the company on their official website and social media channels.
Victoria VR (VR) Tokenomics
The project's tokenomics is as follow: maximum supply of VR tokens is 16,800,000,000 and the current circulating supply is 676,997,200. The VR tokens are allocated as follows:
- VR's Golden Tickets — 6.8 Billion
- VR's Rewards Pool — 8.8 Billion
- Development — 1.2 Billion
From the 6.8 Billion VR’s Golden Tickets tokens, 5 billion are reserved for the token sale and 1.8 billion are allocated to the strategic reserve. From the token sale, 800 million are allocated to the VR token's team, 380 million to the marketing team, and 20 million to the project's advisors. From the VR’s Rewards Pool of 8.8 billion, 78.5% are allocated for the users, 18.5% for the stakers and 3% for further project development.
Victoria VR (VR) Price
Victoria VR (VR) token is now trading at around $0.401, as of Dec. 20, 2021. Its 24-hour trading volume on exchanges is around $16,632,248.
Victoria VR (VR) Price Prediction and Future Outlook
When something is powered by the Unreal Engine in the digital world, the chances of it succeeding become very high. This is because the company has made a presence in almost all of the top games out there in the past few years. Games like Fortnite, Injustice 2, Gears Of War and many others are clear examples of the level of professionalism one can expect with any project which is attached with Unreal Engine. This is also a major aspect that is considered by major investors when they look for a token to invest in.
As highlighted by VR's official whitepaper, the global gaming market is going to be valued at around $256.97 billion by 2025, and by 2030, this number is predicted to reach over $1.2 trillion. This means that anything that is even remotely related to the gaming industry will skyrocket. And with the unparalleled power of the Unreal engine as highlighted above, the VR token has a bright future in the gaming industry.
Adding upon the gaming trend discussed above, the hottest trend in the crypto world right now is the metaverse, with investors splashing huge sums on digital real estate. Victoria's metaverse, powered by Unreal Engine, aims to develop its user experience so that users can design, build and trade in their continuously evolving metaverse.
Anyone can buy virtual lands and rent or sell them by using the in-game currency — VR. If many people are interacting inside the VR metaverse and using the VR token for buying or selling their products/services, the utility, and price, of the VR token is projected to increase in the near future.
The price of the VR token shot up to $0.5 after its listing on Kucoin, and cooled down after some took profit, and then rallied again to reach an all-time high of $0.6692. As of now, the VR token is hovering in the $0.4 price range. Although there isn’t much data from the technical indicators to predict the next price of the VR token, the current trajectory suggests that a new all-time high is just around the corner. This is also predicted because Bitcoin (BTC) seems to be recovering and we all know that when the king of crypto rises, all rise with it.
Expert analysis of the VR token suggests that the short-term target of the VR token is $1. However, keeping in mind the rising trend of the metaverse, a long-term target of $5 is not far-fetched, considering the swift rise of tokens like MANA and SAND, which are also based on the concept of the metaverse.
To summarize, the Victoria VR project has a good team, features, a great community and banks on the power of metaverse, virtual reality and blockchain that can make the project successful in the long run. However, do your own research and exercise caution due to the current volatility of the crypto market.
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