The pandemic has affected people in all aspects which have spurred furthered adoption of Virtual reality (VR) technology. It has even dealt with COVID-19 difficulties effectively. In addition to this, businesses have turned to remote work. It is believed that the virtual reality market will grow rapidly from the year 2022 and achieve $2,094.08 billion by 2027. This popularity came into existence during lockdown when people were more drawn towards the digital world. There are many other reasons behind the boost in the use of virtual reality. In fact, youngsters are showing more interest in virtual reality courses and pursuing careers as virtual reality expert professionals.
Further, blockchain can transform virtual reality by turning it into a secure space. In this article we will discuss the acceleration of the virtual reality revolution through blockchain. Before we get into more details of the topic let’s first know more about virtual reality.
What is Virtual Reality?
Virtual reality or VR is the term refers to the use of a computer generated environment that simulates every movement of the digital world. It is the technology of the future that makes anything practically feasible in the virtual world. According to the virtual reality experts, it is a fully digital experience in a three- dimensional environment using a VR glass or headset. However, to know about VR in depth we advise you to join the VR certification course.
The technology accelerated during the pandemic to help various industries such as architecture, healthcare, fashion industry etc. The purpose of virtual reality in these industries is to bridge physical obstacles and create immersive experiences. It has evolved significantly over the years to transform the world around us. However, the virtual reality expert team still needs to make high performance screens and other sensors to submerge us into a virtual world. Transformational virtual reality will add more to audio-video experiences. Talking further about the same subject, we need to focus on how transformation in the virtual world can be assisted by Blockchain.
What is Blockchain?
It is a technology that facilitates the process of verification of documents and transaction data that is duplicated. It is essentially a database that chains the data together. Furthermore, it ensures the privacy of the user and data. This ensures 100% transparency.
You must have heard about its link with cryptocurrency. So let’s get into more detail about it. The technology is most noteworthy in the use with cryptocurrencies. It has a decentralized nature that promotes trust and transparency. If there is an increasing number of blockchain systems it will support transferring assets and safely store information over the shared systems. Thus, you may not require a third party intermediary like banks for the safe exchange of your money or other goods.
According to some reports, the average investment in blockchain technology was $1 million in 2017. In addition to this, it is expected that the market of blockchain will reach $20 billion by 2024. This may be obtained if blockchain is employed in funding and investing in assets.
You must be wondering about how blockchain can be used in virtual reality to accelerate its revolution. Well, here’s the answer.
Advantages of implementing blockchain to accelerate virtual reality
- Creating a full fledged virtual world
Currently people have entrusted their faith to carry out transactions through banks as a third party. You will be glad to know that with the use of blockchain your data would be in safe hands. Blockchain without sacrificing the security can create a full fledged virtual world. For example, in the entertainment industry it helps in verifying the stolen, hacked and copied item. This will preserve ownership in the virtual world. Interestingly, Blockchain-linked coins are used for advertisements of virtual reality games to make it noticeable.
- Uses of blockchain in nonfungible tokens and buttons
The blockchain distributes all the online transactions records across member computers across the world. Permissionless blockchains such as Ethereum are completely transparent. They run automatically and establish your ownership of a digital object. Adding more List to the advantages, blockchain simply allows you to own digital goods. As per the sayings of virtual reality expert professionals you can now own NFT even in a virtual world. There are some organizations that line up virtual reality and blockchain together for advancement of the cryptocurrency and cryptographic security.
- Making metaverse possible
Web 3.0 will consist of blockchain-enabled decentralized applications to become the foundation for the metaverse. There will be more interconnected virtual world wide web. Both blockchain and VR have access to metaverse. To support user-owned crypto assets, different virtual worlds need to be interoperable. Furthermore, due to the decentralized nature of blockchain current economies will need its services. This is because virtual experience in a metaverse could open new avenues like NFTs and bring decentralized ledgers.
- Virtual world on blockchain taking a step forward
You can now buy a plot on virtual land. Isn’t this unbelievable? But some platforms like Decentraland are giving you access with the use of cryptocurrency. Users can even build houses and buildings up on this land to populate it with virtual objects. Virtual reality experts are making a blockchain based ecosystem to create a world of photorealistic content that blockchain can record indefinitely. Even for teaching blockchain, platforms like blockchain 3D Explorer enables the view experiences in a virtual reality environment.
The blockchain powers the virtual world in many ways. Amazingly, the future of VR can be more decentralized and Open for its better functioning. This will boost up the cryptocurrency market and help in a more profitable business. Virtual reality experts believe that more interactive experiences are possible if VR and blockchain work together. Therefore, as virtual reality evolves it will enable blockchain to transform experiences forever. Hence, opting for a virtual reality certification can bring a professional advantage to you. In fact, you can easily find reliable resources that offer VR certification programs.
Check out the GLOBAL TECH COUNCIL for more updates on the sector.