ERC 721 non-fungible tokens to be launched at OVRLive Event platform.

It is imperative to mention, that with a DJ wearing a motion suit to record and reproduce movement, dancing and even interacting with the crowd as a hyper-realistic 3D avatar to create the experience of being at a concert — complete with lighting and other special effects ranging from animals and waterfalls, to faithfully reproduced real venues (although the website’s suggestion of holding a party in the Sistine Chapel might cause a bit of an uproar), the anniversary party itself will use OVRLand’s OVRLive Event platform.

Also, less lifelike avatars that can nonetheless interact and converse with the artist, will be given to other attendees.

Ranging from standard mobile phones (with a headset), smart glasses like Hololens and Magic Leap, and even low-cost headsets from the holokit project, OVRLand users access the metaverse using AR devices.

Other reveals include the launch of a secondary market for trading land hexs, which are represented by ERC 721 non-fungible tokens, or NFTs. OVR also took the OVR Art Gallery live, and released the beta of its OVR Builder, which creators can use to create and upload 3D assets, and eventually the tools and content need to build experiences.

The project uses two tokens: the OVRLand NFTs that represent land hexes, and the ERC-20 fungible OVRTokens, the only currency with which value can be exchanged inside the metaverse. The latter has as many uses as any real-world currency or cryptocurrency, such as paying for in-platform property or experience development, renting virtual space, paying for virtual goods and experiences, and collecting revenue from advertisers.

While OVRLand hexes can be purchased with credit card soon, OVRTokens will have double the purchasing power.

They are also governance tokens and can be used for staking and liquidity mining.



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