Live Planet To Launch Blockchain-Based​ Virtual Reality Network

Live Planet, a media company,has recently announceditsplans to soon launch a blockchain-based virtual reality network, ‘the Blockchain Virtual Reality (VR) Network’, whichwill be used to host crypto and other blockchain-related content.

They shared the development program in a press release with Cointelegraph on 8th August. The network will be the first of its kind, as per the release.

Moreover, the release claims that this will be the first application by the company that will be based on VideoCoin Network technology, which is a blockchain-based media infrastructure that the company has been developing.

Former Fox Film executive helps develop Blockchain VR Network

As per previous reports, Live Planet, in June, procured Hanno Basse, the former chief technology officer of 20^thCentury Fox Film Corporation. Basse joined the firm to work as the president of its decentralized media solutions division and was purportedly required to develop the VideoCoin Network, with its VR streaming and publishing services. 

Blockchain VR Network details and partners

As per the announcement, creators of blockchain-related content will be enabled to use their 360 stereoscopic video service, Live Planet VR System, to record their content or stream it. Moreover, the network will also allow streaming to platforms like Samsung VR, Oculus and Youtube.

Live Planet already has a lot of partners, according to the press release, including Boxmining, CoinCentral, BLOCKTV, Crypto Trader, Bad Crypto Podcast, YEN.io and Decentralized Films. This foregoing list comprises of various kinds of online creators, who produce TV shows, podcasts and independent news coverage.

Blockchain-backed media

tZero, the cryptocurrency wing of the retail giant Overstock announced that they will soon tokenize the movie “Atari: Fistful of Quarters”, in July. 

Patrick Byrne, the CEO of Overstock said: “We have been looking for the team to crack the code for Hollywood and bring much needed transparency and accountability to an industry that has been historically resistant to change. This is an extremely impressive team and we are thrilled to bring the tZERO tech stack to the movie industry.”