A Cryptocurrency for the VR E-sports Economy

What will the future of e-sports look like? If Japan’s VReS has its way, it’ll be a Ready Player One-esque world where players, teams, and fans get to connect on a level more real than anything the flat virtual realm of computers and monitors have ever provided – with a in-realm currency of its own.

VReS was created in 2017 by Taichi Shibuki, who wanted to build a new place for players to enjoy e-sports using VR. The platform combines e-sports, cryptocurrencies, and virtual reality and it aims to provide services to developers and the gaming community – including a cryptocurrency-fueled economy to support it all.

The main issue of VR and e-sports is that both are still in their infancy. The VR market is quite fractured, while e-sports is still far from mainstream. However, VReS believes that a single platform could unite these two and double time their development.

According to VReS, a single platform could provide more comprehensive services for VR developers. Meanwhile, a unified e-sports community would make tournaments more affordable and less complicated. Security? Smart contracts and the blockchain will take care of that.

The company already has its VR devices in 3,000 stores in Asia. With that basic infrastructure in place, all it needs is a platform to bring everything together.

Another draw for the platform are the VReS tokens. The tokens – which are based on Ethereum blockchain – allow users to host their own paid tournaments without any organizers and provide a secure way of disbursing prize funds. The tournament will auto-scale by the number of participants and prizes will be paid automatically using Smart Contract. Fans get to bet securely, with match histories automatically written on the blockchain and future odds calculated right away. Basically, every part of the process is secure.

The company wants to see VR become an essential technology, and it also wants users to enjoy the new world it can create. It plans to work with developers to ensure killer content for this new reality.

Photo: JD Hancock