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Table of Contents
Reason #1: Truly Immersive entertainment platform
Many virtual universes exist on websites or Mobile Apps. However, there is hardly any universe that exists on both and adds an AR/VR dimension to it. Terra Virtua has made it possible.
While it has become one of the first platforms to harmonize blockchain and AR/VR, it also uses non-fungible tokens to create and store digital collectible assets. Effectively, it gives brands and enterprises access to a virtual universe where they can interact with their real-world customers. And that is how Terra Virtua has gained partnerships with the behemoths of the entertainment industry.
Reason #2: Super wide range of content
Terra Virtua platform is designed to support deliver two types of experiences to the users. First is the interactive experience that includes theme parks and games. Second is the cinematic experience that includes movies, live concerts, eSports events, and more. Terra Virtua FanCave and Terra Dome are two environments where platform users can bring their collectibles to life.
Fancave is a 3D environment that can be customized and supports social interactions. Furthermore, the Fancave users can invite their friends into the Fancave and display or even trade their collectibles.
Terra Dome is more of a brand and enterprise-focused environment. The environment can store items like life-size plans and creatures. Interestingly, the Terra Dome will soon welcome digital creatures from Hollywood’s 2021 biggest blockbuster.
Source: Fancave and Terra Dome
Impressively, the team continues to enhance these environments. For example, to accommodate the different scope of movements of monsters like Kaijus, the team enhanced the corner space in Terra Dome.
Reason #3: Monetizable User-generated content
While the platform will always have content developed by the internal team, it will also allow platform users and opportunity to generate content. Moreover, the creator can monetize his content. Interestingly, it also provides users Terra Forma Toolkit that eliminates high development fees for VR content creators.
Even third-parties like developers or brands can create monetizable content on the platform.
In January 2021, the platform went live with its first batch of 11 non-curated independent artists. The art pieces of these artists are live in the Terra Art Gallery.
According to the website nonfungible.com, there have been 1347 past all-time sales on the Terra Virtua platform.
Reason #4: Real-world Rewards
Here comes the most exciting part. Terra Virtua users can earn real-world rewards when they used the native token TVK to buy ecosystem items. These rewards range from meeting the creator of an NFT, being able to buy a movie collectible, and more.
“Imagine exclusive Game of Thrones finale merchandise available only during the episode. If you could grab exclusive team merchandise when a player hits a home run. Merchandise that becomes available at a concert during specific performances. Owning action figures that come to life — these are the types of things you will experience from Terra Virtua ” — Jawad Ashraf, CTO, and Cofounder of Terra Virtua.
Reason #5: Netflix-like Subscription model
Terra Virtua is a giant growing library of growing content and immersive experiences. Interestingly, the users can consume the content on-demand by paying for a monthly subscription. Additionally, it also offers pay-per-view options for special events and attractions.
According to the Terra Virtua white paper, the premium content publishers will receive a share of this subscription pool. It states that while the platform will keep 20% of the total subscription revenue, it will distribute the remaining 80% to premium publishers. The platform will calculate the share based on the time users spend on the publisher’s attraction.
Reason #6: Virtual items that bring in real money
After CryptoKitties fiasco, a strong community has formed around NFTs. People are spending huge sums of money to own unique digital art of items.
According to industry statistics, NFTs in gaming can build a $200 billion gaming market, $4.82 billion online digital art community, and more. As Terra Virtua creates and stores assets in NFTs, the platform is poised to support an industry that is ready to take off.
Source: Nonfungible.com
Reason #7: Reinvent collecting
Mankind has been a fan of collectibles for centuries. For most of the collectors out their collectibles value goes beyond money. According to Forbes, the digital collectible market holds the potential to turn into a $200 billion dollar industry.
To support the growth of an industry of such a massive scale, Terra Virtua looks like a perfect platform. That’s because it wraps the most exciting experiences into a platform that is secured by blockchain and NFTs.
Reason #8: Multi-utility single token
The TVK token is a utility token that is used for transactions, governance, and to stake in the Terra Virtua Universe. It is used to pay for in-game purchases and mixed-reality experiences (paying for food ordered in the Terra Virtua universe). Additionally, the token can be used for governance where users can control the evolution of the platform. Along with that, the users can stake the TVK tokens and earn yields.
The TVK owners can per-stake Terra Virtua on BITMAX and earn up to 36% annualized rewards.
Reason #9: Payment agnostic
To maximize adoption, the Terra Virtua platform has been developed as a payment agnostic platform. That means users can make payments using fiat or credit cards. Along with this, it also accepts payment as Bitcoin, Ethereum, and Kolect Token.
Reason #10: Social connect
This is one of the exciting reasons for the massive community Terra Virtua has built. There are meet-up areas in all 4 zones where the platform users can interact. Along with that, the players can team up and compete in events or games. Additionally, there exists an in-built messaging system where users can connect.
This scale of social connect gives brands an opportunity to directly interact with the consumers.
How does Terra Virtua generate revenue?
For any platform to fuel its growth, it needs to generate revenue. Terra Virtua follows an interesting business model that opens 5 revenue streams for the platform. These are:
- Subscriptions and pay-per-view channel for content views
- A marketplace where licensed collectibles can be sold
- Brand advertising
- Third-party zone purchasing by brands like licensed games or developers
- Premium Events like eSports or live concerts.
Milestones achieved to date
The project was founded in 2016. After completing the proof of concept and building the team of industry leaders in 2017, the private pre-sale was launched in 2018. Moreover, the team launched the portal alpha.
However, 2019 proved to be an iconic year for Terra Virtua. It partnered with some of the leaders in the entertainment industry and sold collectible for them. Some of these are OPENSEA partnership, The Godfather, and Lost in the Space.
2020 – Year of great development progress
- vFlect Feature went live
- Terra Art Gallery launch
- Top Gun and Sunset Boulevard licensed
- Mainnet launch Platform 1.0 completed
- Wallet integration enhancement
- ERC-721 interoperability across markets delivered
- Fancave and Terradome launched
- Launched Platform 2.0 on Matic Network
- Token sale initiated
The roadmap ahead – Massive 2021
Some of the major milestones for the year 2021 are:
- Create an influencers marketplace
- Deliver Platform 3.0 with full social and currency interoperability
- Interactive VR Fancave with streaming and multiplayer features
- Advanced social mobile app
- Megadom community space
That’s a real giant building up there!
A well-decorated team
CEO Gary Bracey – Gary is a games industry veteran with experience of 35 years. He was the head of development of Ocean Software and founder Digimask. Moreover, he is was a nominee of the most prestigious British Academy Games Awards.
CTO Jawad Ashraf – Jawad is a technology-focused entrepreneur who brings over 30 years of technical transformation experience to Terra Virtua.
COO Dough Dyer – With over 25 years of experience, Dough has held leadership positions with entertainment industry giants like Microsoft, Warner Bros., and more. He has also worked with brands like The Simpsons, Harry Potter, and Age of Empires.
CSO Jeff Holmberg – As a head of partnerships at OpenSea, Jeff is basically a Wall Street veteran. He has worked with giants like Goldman Sachs and Merrill Lynch.
Partnerships
If there is anything more that places Terra Virtua uniquely in the NFT and blockchain space, it is the partnerships the project has bagged over the last 3 years:
- Paramount Pictures
Terra Virtual is an official NFT provider of Paramount Pictures. It has released NFTs of blockbusters like The Godfather and Top Gun collectibles.
- Netflix
It also partnered with Netflix to release Lost in Space collectibles.
- Legendary Entertainment
As an official NFT partner of Legendary Entertainment, Terra Virtua will soon be releasing collectibles of Godzilla and Kong from Godzilla vs KingKong, the 2021 blockbuster.
- The Netflix hit TV series, Lost in Space collectibles.
More partnerships in the space
- Polygon (previously Matic) partnership to accelerate the adoption of NFTs
- Polkamarkets partnership to gamify their predictive marketplace
- Arkane Network partnership for intuitive wallet integration
- Phantasma partnership for the development of multi-layer, timed, on-demand, and nested NFTs
- Elrond partnership for adaptive State Sharding with PoS
- MEME partnership to support stake farming for limited edition NFTs
- IGGalaxy partnership to support social competitive gaming
- Utrust partnership for a multiplayer payment solution
- Utopia Genesis partnership for tokenized music rights
On 26 February TVK was listed in BINANCE Innovation Zone. With that, it is now available for purchase on 3 leading exchanges.
TVK price
According to CoinGecko, the TVK price touched a new all-time high of $0.92 on 26 February 2021. However, at the time of press, the token seems to have unhanded some of its gains to the healthy market correction. It is now trading close to $0.436.
Very soon we will have a TVK exclusive technical analysis coming up!
Conclusion
Terra Virtua and its vast ecosystem of partnership seem poised to disrupt the world of digital collectibles. Along with that, it offers exciting, innovative, and engaging experiences and incentives. It is evident that with brands of such scale coming to the platform, Terra Virtua will draw more interest from the $200 billion digital collectibles market as it continues to deliver more.
