Welcome to the Future, says Terra Virtua, in a white paper about virtual reality. If you haven’t heard of Terra Virtua yet, that’s because they haven’t launched yet, but as of 9:30 p.m. PDT yesterday, Terra Virtua’s pre-launch was just 10 days, 4 hours and 30+ minutes away from becoming a reality. The official launch of Terra Virtua is set to occur in September, but VR fans eager to learn more can register now to be the first to hear about the company’s upcoming initial coin offering (ICO).

According to Terra Virtua’s white paper, the virtual reality  industry is predicted to grow to more than a $200 billion a year market over the next five years, and Terra Virtua wants to disrupt the industry just as it is getting started. Terra Virtua describes itself as a unique, blockchain-driven virtual platform that focuses on an immersive VR entertainment environment, built around community and social connection. Included in this is its own cryptocurrency, or tokens – the Terra Virtua TERRA (TVT).

Terra Virtua will be a social experience with unique communities where players can create their own groups. They can compete against each other in VR games and experiences in various zones (e.g., race, sports, battle, adventure and space themes). In addition to the VR world accessible through a headset, Terra Virtua will also have a ‘mixed reality’ companion app. ­The Terra Virtua platform will work with standalone headsets like Oculus, Vive (a competitor), Google and Samsung.

Founded in 2016, the conceptual design for the Terra Virtua world came in January 2018, followed by the pre-ICO and portal alpha. The initial coin offering will take place in April, followed by zone events in July, a portal launch in September and attractions and the launch of the companion app in October.

Terra Virtua will be a subscription-based VR platform with subscriptions for games, premium content and pay-per-play events. Pricing details have not yet been released. Premium publishers will receive a share of the subscription pool, says Terra Virtua in their white paper. Calculated monthly, the platform will keep 20 percent of subscription revenue. The remaining 80 percent will be proportionately distributed based on the amount of time visitors spend on specific games and experiences. Terra Virtua will compete directly with HTC’s Viveport subscription-based VR platform.

Insider Take:

Terra Virtua is following HTC’s Viveport into the subscription-based VR platform space. However, because of the blockchain technology and its use of its own unique cryptocurrency, the company is already differentiating itself. While the company tests its product prior to the fall launch, it has done an excellent job of laying out its plans in its 47-page whitepaper, which includes everything from an analysis of the VR market and its technology partners to its revenue model and the benefits of blockchain technology. The developers have a very clearly defined plan. If executed well, it could develop its own loyal subscriber base and prove to be a solid competitor against Viveport and new entrants to the market.