In a groundbreaking development, Victoria VR, a cryptocurrency-infused virtual reality (VR) developer, is set to launch a metaverse app designed exclusively for Apple’s highly anticipated Vision Pro headset. The app, scheduled for release in the second quarter of this year, aims to provide users with an immersive metaverse experience featuring ultra-realistic graphics that seamlessly align with the advanced technologies embedded in the Apple headset.
Victoria VR’s Vision for the Metaverse:
According to a company statement, the Victoria VR metaverse app is poised to showcase the capabilities of the Apple Vision Pro while simultaneously highlighting the prowess of Web3 technology. This strategic move marks Apple’s foray into the virtual reality ecosystem, positioning the Vision Pro headset as a formidable competitor to Meta’s (formerly Facebook) Meta Quest headset.
Blockchain-Powered Metaverse with VR Token:
The Victoria VR metaverse operates on the VR token, an Ethereum-based cryptocurrency adhering to the ERC-20 standard. Users actively engaging with the metaverse and staking VR tokens stand to be rewarded. A notable feature is that half of the revenue generated from in-game asset sales will be distributed among these participants.
As of the latest data from CoinMarketCap, the VR token boasts a market cap of $103 million, experiencing an impressive surge of nearly 60% in the past 24 hours.
Inclusive Environment and Rewarding Participation:
Victoria VR’s mission is to create an inclusive metaverse accessible to all participants. Emphasizing a “pay-to-speed” model rather than a “pay-to-win” approach, users can earn VR tokens simply by participating in the metaverse, ensuring a fair and rewarding experience.
Metaverse Trends and Apple’s Strategic Entry:
This development aligns with the growing interest in the metaverse, attracting tech companies exploring new opportunities in this dynamic space. Victoria VR’s unique blend of blockchain and virtual reality aims to redefine the metaverse experience on the Apple Vision Pro headset.
Reality Labs’ Operating Loss Amid Metaverse Endeavors:
On another front, Meta subsidiary Reality Labs, focusing on metaverse development, reported a substantial operating loss exceeding $4.6 billion in the fourth quarter of 2023. The financial report, released on February 1, reveals that despite generating nearly $1.1 billion in revenue, Reality Labs faced its largest quarterly loss since its financials were first included in Meta’s reporting in the fourth quarter of 2020.
For the entirety of 2023, Reality Labs reported total revenues of just under $1.9 billion, with more than half of the annual revenue generated in the fourth quarter, primarily fueled by the release of the Meta Quest 3. The total operating loss for 2023 amounted to $16.1 billion, reflecting a 17.5% year-on-year increase from 2022.
The Complex Landscape of the Metaverse:
The metaverse has become a focal point of discussion within the tech industry, with varying perspectives on its potential. Bill Gates, among other industry leaders, has expressed a cautious outlook. Notably, major supporters of the metaverse concept, such as Disney, have scaled back their ambitions, exemplified by the elimination of Disney’s metaverse division and substantial layoffs in 2023.
As the metaverse narrative unfolds, the launch of Victoria VR’s metaverse app on Apple Vision Pro stands as a significant development, potentially reshaping the intersection of blockchain and VR within this evolving digital landscape.