Blockchain-Based Victoria VR Develops App as Apple Launches ‘Vision Pro’ in Stores

The developer Victoria VR, known for its crypto-meets-virtual reality (VR) projects, is currently working on releasing the first metaverse app from a blockchain-related company on the Apple headset “Vision Pro.”

The project’s metaverse features “ultra-realistic graphics and immersive gameplay,” which will complement Vision Pro’s technologies, the company announced on Friday.

The app is set to be available in the second quarter of this year.

According to the release, “It forms an elaborate digital environment that demonstrates the capabilities of the Apple Vision Pro while also showcasing the power of Web3 technology.”

Apple’s highly anticipated first futuristic headset was released on Feb. 2, marking its entrance into the virtual reality ecosystem. Despite waning interest in the metaverse, tech giant Meta (formerly Facebook) has previously ventured into the VR sector with its “Meta Quest” headset, making Vision Pro a competitor.

Victoria VR’s metaverse is powered by its VR token, which rewards active users and stakers. The token is Ethereum-based and follows the blockchain’s ERC-20 standard.

Half of the revenue generated from in-game asset sales will be distributed to stakers and active metaverse users.

“Victoria VR’s in-app economy is fueled by the VR token, used to incentivize activities that enhance the virtual environment for the benefit of all participants,” the press release stated.

The VR token has experienced a nearly 60% surge in the last 24 hours and has a market cap of $103 million, according to CoinMarketCap data.

According to a white paper on the project’s website, “We want Victoria VR to be accessible to all, and so citizens will be able to earn Victoria VR by simply taking part in the world. It will be ‘pay-to-speed’ not ‘pay-to- win.'”

“These ERC20 Tokens will be our primary source of generating revenue during the start of the project,” the white paper reads.