OVR, Over The Reality, is a blockchain-based open-source AR platform. It is also called a World Scale platform as it provides users with mobile or smart glasses to live interactive augmented reality experience customized in the real world. In 2017, several Augmented Reality technologies had introduced on the market. OVR can be defined as a new standard in augmented reality experiences by placing itself as the first content browser. So the user does not choose the contents, but the world submits the possible experiences based on its geographical position. OVR adopts the open-source philosophy meaning the entire OVR community contributes to its growth. Thus open source feature makes the platform-independent of its creators. OVR uses Ethereum blockchain to decentralize all the token exchange dynamics between the users. OVR token is a utility token based on the Ethereum’s smart contract ERC-20 standard. Let’s move on further details-
OVR key features
We have just learned that the platform using augmented reality. Furthermore, the reality is a technology capable of superimposing various types of content like video, audio, 2D, 3d in surrounding environments. All this in real-time and from any device with a camera, such as smartphones and smartglasses. This innovation makes it possible to track the elements present in the real world and add other virtual ones. So the union between real and digital generates unique merged experiences. The platform is incorporating the following features:
- OVR Ecosystem 4. OVRLands: Buy, Sell, Rent
- OVRLands 5. OVRExperience: Buy, Sell
- Marketplace 6. OVRAdv: Buy, Sell
The OVR Ecosystem:
OVROwner: Who uses OVR token to buy digital lands (OVRLand) and Anchor an AR experience.
OVRCreator: Who creates 3D digital experiences (OVRExperience).
OVRMiner: Who activates an OVRNode.
OVRUser: Who has the AR experience.
OVRAdvertiser: Who uses OVR token to publish sponsored AR elements on digital lands (OVRLand).
OVRLands are freely tradable among users in a decentralized fashion. Through the use of the marketplace OVROwner. Hence OVRLand owners can decide what kind of experience the user will experience while entering the OVRLand. Actually, The OVR ecosystem is underpinned by a grid of hexagons covering the whole earth’s surface. Therefore the hexagons are called OVRLands. The lands have specific geographic positions and a standard dimension of 300 Square Meters. The total number of OVRLands is 1.660.954.464.112. Property of OVRLands will ground the economic incentives to generate, distribute and curate high-quality AR and VR content.
The OVR marketplace is decentralized and managed by smart contracts. The main function is to facilitate the intersection between supply and demand for every digital asset. It can be traded on the platform. All transactions are handled in OVR tokens. The smart contract ensures a decentralized assets exchange.
OVRLands: Buy, Sell, Rent
After the closing phase of the ICO using the OVR tokens, the OVRLand can be purchased on the OVR Marketplace. This could have happened through an ascending price auction with a starting price of 1 OVR. Purchasing OVRLands or selling in the marketplace, it will be possible to buy it at the proposed value. OVRLand is compliant with the ERC-721 standard. Thus the token can also be stored and sold peer-to-peer on outside the Platform. Sell/Rent The OVROwners can sell or rent their OVRLands at any time using the marketplace features. The OVRLands have sold or rent with the existing OVRExperience.
OVRExperience: Buy, Sell
Community users can develop AR experiences with SDK based on Unity3D. Hence it can decide to sell on the marketplace. The asset storage takes place on IPFS OVRNodes.The desired amount is passed on from OVR Owner to Content creator upon association OVRLand->OVRExperience. The smart contract guarantees the correctness of the transaction.
OVRAdv: Buy, Sell
The functions offered by the SDK contain the objects. Similarly, it required to manage promotional items such as 3D virtual banners. Generally, plans with dynamically assignable textures. These all give the advertisers the possibility to insert their promotional elements. The marketplace manages the buying and selling of these spaces on a time basis or on performance.
Bringing AR, mobile devices and blockchain tech all together will be a tricky task. As a result, we believe we are at a tipping point. Therefore, in terms of hardware and blockchain development:
- Almost 60% of smartphones already support AR. This number keeps growing and thanks to computational abundance generated by Moore’s law.
- Mobile data is abundant and cheap. We are at the dawn of the 5g network that will increase bandwidth in orders of magnitude. This allows us to download and deploy in real-time. That is a very heavy and complex 3D models.
- Ethereum blockchain faces scalability challenges that limit opportunities to onboard non-crypto savvy mobile users. At the same time, second-layer solutions such as Loom allow overcoming Ethereum’s limitation. While retaining the opportunity to peg to the main chain for full decentralization and security.
Why should try OVR
AR and OVR are not just about new tech for the new generation. It is not just about gaming either. Simply we can say the app should be a magic mirror to an augmented world.
Hope you all enjoy the article. Now you can get some idea about OVR. Don’t waste your time. Click on the link below to start Happy Airdropping with OVR:
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Writer, researcher, and analyst on cryptocurrency and blockchain technology at L&P Digitech Pvt. Ltd. Also managing the content with SEO at this current company. Keen interest to know more about new technologies related to the crypto world and blockchain technology. Completed Masters in Computer Application (MCA) and holds Post Graduate Diploma in Instructional Designing with sound knowledge in Articulate3. Out of all, love to travel, listen to music, and to eat also.