High Fidelity and Janus VR announced in March that they were creating a Virtual Reality Blockchain Alliance in order to determine the protocols for the global interoperability of VR.
I had a chance to talk to the co-founders of Janus VR and High Fidelity about how the immersive experience of VR will be driving innovations in blockchain technologies. Technologies like self-sovereign identity will enable the seamless transfer of embodied avatar representations from one VR world to the next.
High Fidelity is experimenting with High Fidelity Coin (HFC) that is a Stable Coin pegged to a consistent exchange rate through the creation of new currency in order to encourage the use of HFC as an actual in-world currency rather than a speculative asset as most cryptocurrencies are being used for.
We also talk about the importance of verifiable digital asset ownership, authorship, and attribution in the context of virtual worlds. The Virtual Reality Blockchain Alliance will also be working on collaborations between different virtual worlds in order to better define the different protocols that will lead towards the decentralized metaverse.
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