In a landmark event at WWDC in June 2023, Apple introduced the Vision Pro, marking a significant leap in spatial computing and drawing mainstream attention to AR and VR. This development underscores the tech giant's commitment to advancing how we interact with digital worlds, catalyzing excitement across both technology and crypto markets.
As of February 2024, AR & VR crypto tokens boast a market cap exceeding $4.22 billion, reflecting the crypto market's role in spearheading innovation in decentralized, web3, and AI technologies. With KuCoin listing over 30 AR and VR crypto tokens, the intersection of crypto with AR and VR is setting the stage for a transformative era in digital interaction.
Estimates from Statista suggest that 98 million consumers could use VR tech in 2023, while advanced AR tech could add another 23 million users. The AR and VR market could grow by almost 50% in terms of users added by 2027. This growth is mirrored in the diverse applications of AR and VR technologies, from blockchain gaming to immersive education and virtual real estate, underscoring the broad potential of these technologies to redefine digital interactions.
Emerging VR and AR blockchain game projects like High Fidelity, Terra Virtua, and Decentraland highlight the sector's vibrancy, showcasing everything from virtual worlds and gaming to digital asset monetization through NFTs. These projects not only underline the investment potential in the blockchain-based AR and VR spaces but also hint at future trends and the broadening scope of applications across various sectors. Furthermore, innovative VR crypto projects such as Metahero and VIBE are pushing the boundaries of virtual experiences, offering unique capabilities like real-world scanning for virtual representation and immersive augmented realities compatible with VR headsets.
AR and VR Applications in the Blockchain Industry
AR & VR technologies are being applied in various domains, including blockchain gaming, where users can invest in virtual real estate or participate in immersive gaming experiences. The integration of these technologies into the metaverse, gaming, and hardware development highlights the diverse applications and potential of AR and VR in enhancing digital interactions and experiences.
Spatial computing is a crucial concept and building block for AR and VR technologies. This field features emerging technologies related to how computers interact with and process information about the physical space around us - aka spatial information.
In augmented reality (AR), spatial computing enables overlaying digital information onto the real world and allows users to interact with augmented elements naturally. The technology helps create immersive digital environments for enhanced interaction in the world of VR.
Top AR and VR Crypto Projects Worth Watching
The crypto industry, which has been at the forefront of driving innovation in tech, has several projects in the AR and VR sector to check out and invest in. If you’re looking to get in on the action in the AR and VR space, here are some of the best AR and VR crypto coins you could consider adding to your portfolio:
Decentraland
Launched in 2020, Decentraland is a browser-based 3D virtual world powered by the Ethereum blockchain. Users can explore, interact, and even own parcels of land as NFTs using MANA, the platform's native ERC-20 token. The AR/VR element comes from the immersive first-person experience, where users navigate and customize their avatars, attend events, and interact with others.
MANA fuels Decentraland's economy. It's used to purchase LAND, in-world items, and participate in the Decentraland DAO, granting voting rights on the platform's future development. Recent developments include the integration with Chainlink oracles for real-world data integration and the launch of "Estates," allowing users to combine multiple LAND parcels. Looking forward, Decentraland is positioned to capitalize on the growing interest in the metaverse and NFT spaces. It plans to expand its virtual experiences, enhance user engagement through innovative features, and foster a thriving digital economy.
CEEK VR
Launched in 2018, CEEK VR is a metaverse platform focused on virtual events and experiences with both VR and AR capabilities. Users can attend concerts, watch 360° content, and interact with each other in virtual spaces. The VR element brings an immersive feel, while AR integration allows for blending virtual elements with the real world.
CEEK's native token, CEEK, fuels the platform's ecosystem. It's used for purchasing event tickets, virtual goods, and in-world experiences. Creators can also monetize their work through CEEK, receiving payments directly and transparently on the blockchain. Recent developments include the launch of CEEK City, a persistent virtual world with social spaces, and the integration with the Flow blockchain for improved scalability. The future outlook is promising, with the potential for expanding virtual experiences, integrating with other metaverses, and leveraging AR technology for further innovation.
Highstreet
Launched in 2021, Highstreet is a play-to-earn metaverse that blends retail experiences with MMORPG gameplay. Users explore a virtual world, complete quests, and even own virtual storefronts as NFTs. The AR/VR element lies in the immersive first-person experience, accessible through both VR headsets and traditional screens. HIGH, the platform's native token, fuels transactions and governs the ecosystem. It is used to purchase in-game items, virtual land, and access exclusive events.
Key strengths of Highstreet (HIGH) include partnerships with real-world brands, "phygital" NFTs that unlock both digital and physical items, and a focus on user-generated content. Recent developments include launching a beta version, integrating with Chainlink oracles for real-time data, and introducing a secondary land market. The project has shown significant progress, with milestones such as the launch of Highstreet staking, various NFT drops, and the introduction of Initial Home Offerings (IHOs). Looking ahead, Highstreet plans to integrate commercial and business development further within its virtual world, promising an expansive and engaging metaverse experience for users worldwide.
Victoria VR
Launched in 2021, Victoria VR is an ambitious project aiming to create a vast, user-owned, and photorealistic VR metaverse built on the Unreal Engine. The VR element is central to the experience, offering immersive exploration, social interaction, and diverse activities within the virtual world. The founders, Ondřej Dobruský and Adam Bém bring a wealth of experience from technology, blockchain, and virtual reality, driving the project towards realizing a Live-2-Earn model that diverges from traditional Play-2-Earn concepts, thus fostering a motivating economy that rewards users and stakers alike.
VR, the project's native token, fuels the entire ecosystem. Users spend VR to purchase virtual land (VR Lands) as NFTs, participate in governance through Decentralized Autonomous Organizations (DAOs), and access exclusive features. Victoria VR’s key strengths include the focus on user ownership and content creation, integration with blockchain technology for transparency and security, and planned features like quests, mini-games, and NFT marketplaces. Recent developments have seen the launch of VR Land sales, alpha testing access, and the establishment of partnerships with gaming communities. With its state-of-the-art graphics and a plethora of real-world use cases ranging from business to leisure, Victoria VR is crafting a world within a world, offering limitless possibilities for interaction, exploration, and innovation.
NetVRk
Launched in 2021, NetVRk is a social virtual world built on the blockchain, allowing users to create, explore, and monetize their experiences. The AR/VR element comes through social interaction and exploration in a first-person, 3D environment, though currently available primarily on desktop and mobile, with future VR integration planned. NETVR, the native token, fuels various activities within the platform. Users spend it to purchase virtual land parcels, in-world items, and participate in governance decisions through the NetVRk DAO. With a team of over 50 industry professionals, NetVRk is committed to transparency, integrity, and fostering an ever-expanding virtual metaverse that supports personal and professional use cases.
Recent developments include the launch of a new world builder tool, integration with Polygon for faster and cheaper transactions, and the introduction of staking rewards for NETVR holders. A key feature of NetVRk's roadmap includes the initial release of NFT staking, the implementation of the NetVRk Reserve, and the launch of its NFT marketplace, among other milestones aimed at expanding its virtual world and enhancing user engagement.
OVER
Launched in 2018, OVER is a pioneering AR metaverse project built on Ethereum and Polygon networks. It allows users to map the real world with their smartphones, overlaying interactive digital content on specific locations. The AR element is central to the experience, where users see the digital content seamlessly blended with their physical surroundings. OVR, the platform's native token, fuels various aspects of the ecosystem. It's used to purchase OVRLands (300sqm hexagons representing real-world locations as NFTs), trade 3D assets to populate them, and earn rewards through mapping, renting, and staking. Key strengths include the unique concept of spatial NFTs, a thriving creator community, and integration with Apple's Vision Pro headset for enhanced AR experiences.
The OVER metaverse project utilizes ERC-721 non-fungible tokens (NFTs) to represent unique pieces of virtual land known as OVRLands, which can be bought, sold, or rented within the platform. Additionally, OVR uses the XDai sidechain to ensure low transaction costs and prevent network congestion on Ethereum. The platform's versatility is further demonstrated through features like OVR Live, which enables users to attend concerts and other events in AR, and the OVR Treasure Hunt, which offers a gamified experience similar to Pokémon Go but with crypto rewards. Recent developments in the ecosystem include partnerships and technological advancements, such as the introduction of AI Avatars and improvements in 3D mapping technologies, aiming to enhance user experience and expand the platform's capabilities.
While we've described the above projects in detail, do note that there are more spatial computing crypto projects you could explore, including:
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Render Network (RNDR): (launched 2019) This distributed GPU rendering platform leverages RNDR tokens to pay artists for high-quality 3D rendering, powering applications like Apple Vision Pro. Its strengths lie in on-demand rendering, decentralization, and potential for mass adoption through partnerships. The RNDR token is used within the network to facilitate transactions, incentivize GPU providers, and govern the platform. Apple has not confirmed any official partnership with Render Network or its parent company, OTOY, regarding the Vision Pro headset. The speculation arises from the close relation between OTOY's product, Octane X, featured on the Apple App Store, and its direct relation to the RNDR token. It highlights the Render Network's strategic positioning for future collaborations in the AR and VR space.
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Verasity (VRA): (launched 2019) This platform combats video content piracy and rewards viewers for engagement using VRA tokens. The platform's native token, VRA, is integral to its ecosystem, rewarding users for viewing content and enabling advertisers to run campaigns more effectively. Its key strengths are fraud prevention, improved user experience, and creator monetization options. Recent developments include partnerships with major video platforms and integration with Chainlink oracles.
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Cudos (CUDOS): (launched 2018) This blockchain-based cloud computing platform utilizes CUDOS tokens to incentivize unused computing resources. CUDOS, the network's native utility token, plays a central role in this ecosystem, offering rewards for network participation and staking, with a total supply of 10 billion tokens. Its strengths are decentralization, cost-effectiveness, and the potential to disrupt traditional cloud services. Cudos has distinguished itself through key partnerships and developments, including strategic collaborations with entities like AMD, Elrond, and ChainLayer, enhancing its network capabilities, and expanding access to gaming and other decentralized services globally.
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ARPA Network (ARPA): (launched 2018) ARPA Network, initially launched as ARPA Chain in 2018, has evolved into a secure and decentralized computation network to enhance the fairness, security, and privacy of blockchain technologies. This rebranding reflects its shift towards specializing in Threshold BLS Signature Schemes (TSS-BLS), a subset of Multi-Party Computation (MPC), aiming to provide a more robust permissionless computation infrastructure. The network offers a variety of blockchain-adapted cryptographic services, including a verifiable random number generator (RNG) known as Randcast, secure wallets, cross-chain bridges, and decentralized custody solutions across multiple blockchains. The ARPA token plays a pivotal role in the ecosystem, incentivizing computation task completion and network participation.
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Somnium Space CUBEs (CUBE): This VR metaverse offers virtual land ownership and experiences using CUBE tokens. Launched in 2018, it utilizes its native token, CUBE, for transactions within its ecosystem, including purchasing land, assets, and avatars. Its strengths are user-generated content, social interaction, and a focus on artistic expression. Recent developments include metaverse expansion, NFT integration, and land ownership features.
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Metahero (HERO): This platform uses 3D scanning technology to create high-fidelity avatars for the metaverse. Launched in 2021, the HERO token is used within its ecosystem for transactions, staking, and accessing exclusive features. Metahero's strengths lie in its cutting-edge 3D scanning technology, partnerships for expanding use cases and fostering a new level of realism in NFTs and virtual worlds. The project's future outlook includes expanding its scanning technology's accessibility and integrating with more platforms to use its 3D assets.
You can find more VR and AR tokens on KuCoin's Spot Market. Remember to check the box to find the tokens in this category for margin trading to maximize your potential profits!
Should You Invest in AR and VR Blockchain Projects?
The convergence of spatial computing (encompassing both AR and VR) and blockchain technology is reshaping how we interact with the digital world. This fusion unlocks exciting possibilities for user experiences, digital asset trading, and broad applications across industries, attracting growing investor interest in spatial computing crypto. Here are key reasons why:
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Booming Spatial Computing Market: The combined AR and VR market is projected to reach a staggering $828.8 billion by 2027, according to Statista, growing at a 29.4% CAGR. This immense potential attracts investors seeking high-growth opportunities in cutting-edge technologies like augmented reality crypto and virtual reality coins.
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Engaging Experiences at the Forefront: AR and VR technologies create immersive experiences that captivate users and drive engagement. Take "Pokemon Go," for example, the AR gaming phenomenon that amassed over 1 billion downloads by 2019. This level of engagement translates to potentially lucrative investment opportunities in VR and AR blockchain projects.
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Blockchain Bolsters Security and Ownership: Integrating blockchain with AR and VR platforms fosters enhanced security, decentralized asset ownership, and smooth digital asset transactions. Blockchain's transparent, secure nature benefits the trade of virtual goods and services within these platforms, making virtual reality coins increasingly attractive.
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NFTs Fueling a Digital Asset Economy: The rise of NFTs showcases the potential for monetizing digital assets in virtual environments. Platforms like Decentraland, a blockchain-powered VR world, allow users to create, experience, and monetize content, opening new investment avenues in augmented reality projects.
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Diverse Applications Beyond Gaming: AR and VR extend beyond gaming and entertainment, finding applications in healthcare, education, real estate, and retail. This broad industry penetration ensures diversification for investors, mitigating risk and potentially amplifying rewards across spatial computing crypto projects.
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Strategic Partnerships and Funding on the Rise: Major investors are recognizing the potential of VR blockchain projects. For instance, Magic Leap, an AR startup, secured over $2 billion in funding from Google and Alibaba, highlighting investor confidence in the technology.
Considerations Before Investing in AR & VR Crypto Projects
While the potential of AR and VR crypto projects is undeniable, it's crucial to approach them cautiously due to inherent risks and considerations. Here are some key points to remember:
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High Volatility: The crypto market, in general, is known for its extreme price fluctuations. AR/VR projects, often being newer and less established, can be even more volatile, leading to significant potential losses.
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Technological Immaturity: The AR/VR industry is still in its early stages, and the underlying technologies are constantly evolving. This can lead to unforeseen challenges and delays in project development, impacting token value.
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Competition: The AR/VR space is rapidly growing, with numerous projects vying for attention and resources. Standing out and achieving long-term success can be difficult, even for promising projects.
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Regulatory Uncertainty: The regulatory landscape surrounding cryptocurrencies and AR/VR technologies is still evolving. Unforeseen regulations could significantly impact project development and token value.
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Project-Specific Risks: Each project carries its own set of risks specific to its technology, team, and execution plan. Carefully research each project before investing, understanding its unique strengths, weaknesses, and potential pitfalls.
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Liquidity Concerns: Many AR/VR crypto projects have limited trading volume and may be difficult to buy or sell quickly. This can make it challenging to exit your investment when desired.
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Rug Pulls and Scams: Unfortunately, the crypto space is susceptible to rug pull scams and fraudulent projects. Always be cautious of projects with unrealistic promises, unaudited smart contracts, or anonymous teams.
Conclusion
As we gaze into the horizon of a blockchain-enabled AR and VR ecosystem, the fusion of augmented reality, virtual reality, and blockchain technologies heralds a transformative future. This landscape holds much promise for growth, fueled by increased investment, groundbreaking innovation, and a tech-forward community that relentlessly pushes the boundaries of digital realms. The promise of more seamless, immersive user experiences beckons a wider adoption across diverse sectors such as education, healthcare, real estate, and entertainment, signaling a shift towards a more interactive and enriched digital world.
Technological advancements could address current limitations, enhancing scalability, efficiency, and user-friendliness. At the same time, the inevitable journey toward standardization and regulatory clarity will provide a solid foundation for sustained growth. Strategic collaborations and partnerships stand to accelerate this momentum, crafting a globally adopted and continuously evolving blockchain-powered AR and VR marketplace. The introduction of devices like Vision Pro opens new frontiers for crypto investment, weaving AR and VR technologies into the fabric of digital finance, smart contracts, and beyond.
Further Reading