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Updated on: Friday, January 14, 2022, 08:38 PM IST

VRXtream launches Metaverse platform for events integrated with NFT marketplace

The platform is integrated with the NFT marketplace that facilitates networking, conducting social and entertainment events in the metaverse. |

The platform is integrated with the NFT marketplace that facilitates networking, conducting social and entertainment events in the metaverse. |

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VRXtream – next-gen visually stunning and immersive event platform has recently announced the launch of a metaverse of events equipped with AR & VR technologies. The platform is integrated with the NFT marketplace that facilitates networking, conducting social and entertainment events in the metaverse.

In-person events are known for providing a myriad of opportunities to network, build meaningful connections and interact with attendees and sponsors. However, with the outbreak of the pandemic, conducting and attending events has started becoming more difficult leading to huge losses for the companies. Considering the uncertainty of the market, VRXtream capitalizes on the capabilities of blockchain technology and VR to elevate the event experience from zoom meetings to an interactive VR and AR experience.

The newly launched platform offers a complete suite of immersive, engaging and feature-aided events instantaneously customizable with VR Spaces, NFT characters and NFT elements. The multiple Virtual Spaces featured on the metaverse platform can be customized for events and are packed with features that enable easy organization, management and interaction at the same time.

Jai Prakash, Co-Founder & CEO of VRXtream said, “The transition of the conventional events industry to virtual space has created a new set of audience – people who could now attend events that were previously inaccessible to them. As technology is advancing, we are using the capabilities of blockchain technology and Virtual Reality to create a metaverse for the events industry.”

Apart from using cutting-edge VR technology, VRXtream also leverages blockchain technology to convert all digital assets into NFTs that are secure, tradeable and provide real ownership authority to buyers.

The users can buy VR spaces on VRXtream as NFTs that can be rented out to event organizers for marketing, organizing and conducting the events. All transactions for buying and renting the space and organizing and conducting the events will be done using the VRXT token – the platform’s default token.

The platform allows the organizers to sell advertising space, sponsorship and access(passes) to the event with all the transactions being facilitated through smart contracts DAOs. Besides this, the interested participants/attendees at the events can enter the VR spaces by purchasing character customizable NFTs to ensure personalized branding and can be reflected via character NFTs in the VR event.

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Published on: Friday, January 14, 2022, 08:38 PM IST
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