Augmented reality is no longer a buzzword and is reshaping technology, gaming, software & mobile app development industries. It is looking to upend how diversified sectors like finance, retail, travel, and fashion interact and engage with customers. According to recently published statistics, the economic impact of augmented reality and virtual reality is forecasted to reach $29.5 billion by the year 2020. Also, tourism has become an important source of income for many countries. It has a global economic contribution of $7.6 trillion.
The use of augmented reality is changing the experience of tourists by making their journey interactive and adding new innovations such as time travel. The company that brought time travel to the industry is now positioning itself as the largest AR Company in the world by unifying AR with the physical world.
Combining Virtual and Real Space
Arcona Ecosystem is the merger of two industries, blockchain and augmented reality, and brings the virtual and real worlds together. It creates an ecosystem based on the principles of trust, transparency, and decentralization. In 2013, the founders realized the need for development of an ecosystem creating new opportunities for real estate gents, content creators, developers, and businesses all over the world. As a result they opened theirs doors in 2014 with the launch of eight AR parks in six European countries and started generating revenue in an era where nobody was familiar with AR. Their AR Time Travel project was named Pilgrim XXVI and is a major commercial success.
At present, the company has thousands of people and real estate companies who are ready to explore the digital world through bridging the gap between virtual and real worlds.
The company was developed with an investment of $200,000 raised from founders and marquee companies like Microsoft. Funds raised were utilized for the purpose of building CV system and AR platform. The changing technology space and the market scope requires the organization to upgrade its systems and technology. To raise funds for the same, the company has launched an initial coin offering (ICO), which closed in July 2018. The company has raised over 7,100 ETH from an estimated 15,000 contributors through May 2018. The receipts will be used to procure the space and provide it to the developers so that they can take part in the open source system and monetize their ideas. The circulation of tokens will enter in the system during 3rd quarter of 2018 where it will be used as internal currency to transact on the company’s platform.
How The Platform Works
The company has invented digital land that is connected to real world locations where everybody can change surroundings of real space using smart gadgets. The platform of the company can concurrently be used on different devices like iPhones, iPads, and computers. Its system supports multiple operating environments. It has the ability to create a mixed reality layer everywhere, which can be accessed without the use of GPS facility.
Arcona Tokens will allow the participants to own digital pieces of land, which can be used to develop their own projects or can be rented out to others to help them share creative work. Blockchain technology will be used to identify the ownership and transfer rights of digital land. Operating through the company’s platform is safe as each contract on the platform is fully secured by smart contracts guaranteeing the protection of copyrights and property rights making the system more trustworthy and transparent.
Auctions will be launched every week where participants can place their bids for the purchase of land. After the conclusion of the ICO, company’s platform will allow users to launch small plots (Minimum 100 square meter), promote those plots and launch auction (limited by time) for the same.
The platform is a combination of artificial intelligence, 3D mobilization, and GIS (Geographic Information System). It will allow users to implement their ideas through the creation of AR projects without having the knowledge of specialized techniques or programming abilities.
Technology empowers the developers to create a 3D landscape model using real world objects as markers which can be placed anywhere on the cloud and can be compared with digital map using GIS services. Augmented reality objects can be placed accurately as against changing environment using the advanced tools offered by the platform.
How Digital Land Owners Make Money
Owners of digital land can make money through placing their land for auction on the company’s website. It also allows them to participate in an auction and bid against other users to gain the ownership of digital space. The initial price has been fixed at 1 token per square meter. The spending of tokens is strictly under the control of the community.
The platform will charge a nominal fee for every transaction conducted through the company’s website (i.e. buying land, buying or selling content, etc.)
The Future of AR
Within a few years, the AR community will be the biggest community in the world and will be a part of our daily lives. AR ecosystem will evolve with multiple stakeholders like content generators, developers, programmers, or land owners. The platform of Arcona will allow the users to create their own content using advanced tools made available by the company and place this content anywhere on the planet as per the choice of the creator. Users who want to create something unique, complex, and interesting can avail the services of experienced developers and content creators.
Arcona is currently looking for investment partners to complete the system and become a pioneer in the augmented reality setups. The company is the biggest developer of augmented reality in the world bringing AR community to the masses. The company envisions to build a layer of AR over the 10 big metropolitan areas in the world by the end of 2019. The company is onto something very exciting and can be a potential target for AR unicorns.
Written by Heena Dhir.