ICO Analysis: Terra VirtuaPublished on May 8, 2018By Daniel MitchellI’ve spoken a little about Terra Virtua in the past, having recently covered their pre-ICO launch event which took place in London, UK back in March. The reason I have decided to take a deeper delve into the project, the platform and their token-based ecosystem, is because I am objectively excited to see them succeed; having a personal vested interest in both cryptocurrency and video-games.
VerdictThe team’s collective experience across mainstream entertainment, VR and videogames; combined with their impressive marketing presence and calendar of events / exhibitions, speaks volumes about their potential for penetrating the mainstream.
Additionally, Terra Virtua have already shown off working prototypes of various aspects of their platform (including at the ICO pre-sale launch event).
Despite all their efforts however, their biggest challenge will be to introduce consumers within an already fledgling market (virtual reality) to their even newer cryptocurrency-based platform.
Arguably, the executive team would benefit greatly from adding another cryptocurrency specialist to their ranks as their expertise arguably leans too far towards video games / VR at present.
If they succeed, then the token’s potential could be astronomical due to the milestones being rapidly surpassed by both industries.
Risks There is already at least one other platform which seeks to combine VR & AR (augmented reality) with decentralized blockchain ecosystems. Although competitor ‘CEEK’ focuses almost exclusively on virtual reality music concert experiences, the similarities with Terra Virtua could pose a risk of mutual destruction if either project ends up failing or becomes involved with a scandal. Sansar is a closer competitor which we mentioned earlier but its presence is small -2
It can be difficult to convert consumers to a new ecosystem. Terra Virtua (like Abyss) is attempting to disrupt the digital distribution market for video-games. It’s a huge industry whose market leaders are not only long-established, but also held in high esteem by their consumers (e.g. Steam, GOG) -2
VR has made great strides in the past six years or so but has yet to fully break through into the mainstream (think: Ready Player One). It’s also not the first time such tech has been attempted, and like early VR and 3D movies – there is still a big risk that it won’t catch on -4
No announced plans for exactly what chain they plan on moving to after Ethereum or what might influence their decision in that respect -1
Growth Potential Terra Virtua are putting various other ICOs to shame with their extensive marketing and touring efforts. This can make or break a new cryptocurrency and is also representative of the value and investment the team are willing to contribute towards their project’s success. They have a history and on-going schedule of attendances at trade shows, exhibitions, conferences, and other industry events. Additional marketing initiatives of note include the publication and broadcasting of localised and translated PR copy, digital media campaigns, and active official social media channels +4
You can often verify whether an unknown ICO can be trusted by looking at their leadership team and key partnerships. These two factors are among Terra Virtua’s strongest assets – with graphics card giants Nvidia, and video-game production house Epic Games already on board and more likely to follow +3
A content platform is only as good as the content it platforms. Beyond the larger partnerships that Terra Virtua has announced, it is important to consider that their platform offers significant benefits to the smaller video-game developer as well. TVT reduced commission fees from the platform, as well as less middle-men (payment processors, banks, etc) compared to fiat-based analogues. The ‘Terra Forma’ toolset adds a second dimension to this with the introduction of new creative thinkers to the portfolio of developers +3
Terra Virtua will be 100% platform agnostic and works on both the Vive and Oculus VR ‘headsets’ as of writing. In theory, it could also work with Sony PlayStation VR – although nothing official has been said on that front. Cross-compatibility issues have previously created a division between competing PC video-game marketplaces (such as Origin & Steam) and each respective proprietary offering from console manufacturers (Sony PlayStation, Nintendo) [+2]
Notable blue-chip corporations are heavily invested in the success of virtual reality, and the leading consumer hardware is being produced by the likes of HTC, Facebook and Sony. The potential for Virtual Reality is huge, and as the primary and most successful use-case for VR appears to be video-games: Terra Virtua could be a defining force for a decentralized future of digital entertainment +1
Terra Virtua will provide users with options for accessing many of their platform’s services outside the enclosure of a VR headset, with mobile and desktop apps. This vastly expands the potential for long-term engagement of users with the ecosystem +1
DispositionI’ve tried the hardware, read the whitepaper, and been following the marketing so far and it’s safe to say I am happy to recommend that you investigate the coin yourself!
In full objectivity, I consider this ICO to be valued at a
5/10Proof: https://hacked.com/author/daniel-mitchell/
