BlockchainMix by Arcona was a one-of-a-kind event in December, hosting a discussion of augmented reality and the potential of mixing the idea with blockchain technology. The main benefit of applying blockchain in mixed reality is the level of increased engagement in many industries, from gaming to music.
“The main goal of our project is creating a community that could collaborate on creative AR projects around the globe, - explained Ilya Korguzalov, co-founder of Arcona and co-organizer of BlockchainMix conference.
"Blockchain technology will guarantee transparency and protect the copyright of the community members.”
Arcona presented its concept to build a global AR layer, after completing its ICO and raising $14.2 million of funding. But the cross-section of the two hot technologies has its challenges.
George Popescu, VR and AR Expert, and CEO of Lampix, said:
“It’s very expensive to make AR work.”
He is hoping that more great VR and AR projects could obtain funding through the mechanisms of ICO.
The BlockchainMix participants admitted there are many challenges in implementing VR and AR at the scale of mass consumer adoption: headsets are in the process of development, and even the best of them have a limited field of view. There are also some problems with optics and quality, while users still experience motion sickness.
James Andrew, an investment strategist, said:
“The main thing that AR lacks right now is user retention. It’s really difficult to create something that makes people come back again and again. I am hopeful that blockchain and monetization can be an answer to this problem”.
Dana Farbo, NYC based AR expert, believes user experience should be key in all AR projects.
According to Farbo, blockchain gives people back the control over their personal information that has been taken away from them by the social networks.
“Thanks to the blockchain, people will have the control mechanisms to monetize information: you can get paid for your data,” - Farbo said.
Neha Singh, a blockchain startup founder, said, “They would be able to find out where the products, such as diamonds, are coming from.”
According to Singh, other applications of blockchain in VR could be tokens as a reward system. They would become an alternative to the loyalty points in virtual stores.
The first BlockchainMix conference was supported by the VR/AR Association, a global community of the best minds in virtual reality and augmented reality with chapters in major cities across the globe.