What is the OVR token?
In this article, we will discuss information about the OVR project.
OVR is a cutting edge AR platform powered by the Ethereum Blockchain. OVR enables users with a mobile device or smart glass to experience personalized augmented reality interactive experiences in the real world. OVR can be defined as a new standard in augmented reality where geographic experiences are based on the position of the user.
How will this be done?
OVRExperiences can be realized thanks to a WebGL-based SDK that will allow community users to undertake the construction of experiences within the platform. WebGL is compatible with Unity3D, one of the main real-time 3D development environments on the market, which has been chosen for its versatility, diffusion and ability to manage a multiplatform compilation of projects, thus supporting mobile devices and smart glasses.
What kinds of experiences can be created with the integration of the SDKs?
SDK integration will allow users to create AR experiences that can range from static 3D content and highly complex, hyper-realistic scenes that make virtual content merge with the real world by engaging the user in physical interaction with the surrounding world. Crypto games, art galleries, fascinating structures and more are examples of experiences that can be created at OVRLand.
With these settings, OVRLand can be monetized by publishers / advertisers and crypto artists looking to sell / rent the AR experiences created.
For publishers / advertisers
OVRLands will provide a great medium for advertisers who also wish to draw the attention of potential customers from the virtual world to their brands and products. OVRLand owners can decide to sell / rent the experiences created on their virtual land to advertisers and in return they will be paid in OVR tokens. That’s more money in the bag, right?
OVR implements a decentralized advertising system based on the publisher / advertiser principle where the OVROwner can earn the OVR token by inserting sponsored content proposed by advertisers into the augmented reality experience.
For crypto artists
Crypto artists can now take the sale and marketing of their digital arts to a whole new level. Previously, when most crypto artists had the option to put their arts up for sale in markets like OpenSea, Rarible, and the rest. However, OVRLand will provide crypto artists with a better option of displaying not just one, but all of their art in a virtual art gallery and readily available marketplace – OVR Marketplace for the sale of their art.
Think of it this way, wouldn’t you rather have art lovers come see your art show in a gallery-like setting, rather than put a painting or two on OpenSea? Or put portfolio links on different platforms in the hope that maybe one, two, or maybe three people will be able to click on them?
Now compare this to the interactive and enjoyable experiences your shoppers will enjoy as they explore these already created experiences on your OVRLand. This will mean that more art options will be shown to buyers and consequently more sales!
OVR provides a complete and unique solution for users and content creators to publish their content and profit from it.
At OVR, we have been exploring all possible solutions to stay on the Ethereum network with our NFTs, taking advantage of its huge network effects, while containing gas costs.
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We started testing the Loom, xDAI, and Matic network to understand what the tradeoffs are for all those scaling solutions. advantage is obviously the transaction costs, minting an NFT in such networks is basically free, but there are 3 main disadvantages:
You need to move your exchange media on such a network.
To interact with such a network, you must change its RPC in Metamask
If you want to bring your NFT to the main Ethereum chain, to exchange it on Open Sea, for example, you still have to pay the full cost of minting the NFT on the main chain.
other possible scaling solution is rollups, which have 2 main advantages compared to sidechains, there is no trusted third party and there is no need to change the RPC; unfortunately they are not ready yet, we wait a few more months.
Considering the current development of technology and the actual trade-offs with sidechains, we decided that the best solution is to stay on the main Ethereum chain, making actual (very expensive) NFT minting simply optional. We were inspired by Open Sea’s Lazy Minting solution, where users can create the NFT in their centralized database and decide to coin it right when and if they sell it. Our solution, called Light Minting, is similar to Open Sea’s Lazy Minting, but with a hint of decentralization.
With Light Minting we create a very light transaction on the main Ethereum network that entitles your address to mint a specific OVRL and NFT when and if you wish, also this Option to Mint can be freely traded in the OVR market like any other another OVRL and minted. NFT. We believe this is the best possible trade-off to lower fees, maintain decentralization, and reduce complexity for the end user.
How to increase the market value of OVRLand
Perhaps, you heard about OVR and OVRL and from a friend or through social media. Either way, you made the best decision of your life owning these gems.
Now as a supporter and stakeholder of the project, you think it’s going to burn through the moon, no doubt everyone wants this at some point. However, like all new members of the project, you are constantly faced with thoughts of how to achieve it. refore, the question comes to mind: ** how can I increase the market value of my OVRL and NFT **?
First of all, I would like to congratulate you once again for taking the bold step of owning a virtual land and becoming a digital owner. As in reality, the value of a physical land can increase with what you add (content) to it, which is what you choose to configure on it. same applies to the ownership of a virtual land. As the owner of OVRLand (s), you can increase its value by embedding nice AR content into it.
How do I create content in my OVRLand?
OVR will launch an SDK that will allow users to create content in their virtual space in the most fluid way possible. SDK will allow OVRLands to connect to AR content and experiences, and all you will need to do is import it to your land and voila! It does.
What kind of content can I create on my OVRLand?
OVRLands are unique in that it is not just an infinite virtual space, but one that is linked to actual locations. OVRLand is an AR space where you can let your imagination run wild, explore many possible contents and replicate them in the AR space.
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An art gallery, a virtual game, a hotel, a cafeteria and many more, are contents that you can find in real locations that add commercial value to the economy as a whole. Having an OVRL and it gives you the opportunity to explore these and many other options, you can even decide to build an entire city with the necessary aesthetics in your virtual space.
How do I get value from the content of my OVRLand?
With your OVRLand set up and established with the right content and experiences, attracting value would be a piece of cake. Note that your OVRLand (s) can be rented by default, which is one way you can already get value. Other ways that value accumulates in your OVRL and they are:
Receive payments in OVR for users who want to interact with the experience: with its virtual space fully equipped with content and interactive experiences, users who want to explore this content will have to pay to do so. For example, a user who wants to see an art gallery exhibition in their virtual space will pay to do so.
Get paid from advertisers / publishers: Advertisers / publishers who want to rent their virtual space to raise awareness of their products and brands will pay you. re is also a pay-per-view / interaction option. Amazing things, right?
re are many other nice benefits of owning an OVRLand, in addition to other still-explored use cases. Fortunately for many of us, we are in the early stages of what is to come.
OVR has a unique crypto economy compared to other projects, thanks to the coexistence of two unusual factors: the IBCO and the actual utility of the OVR Tokens (Sales). This uniqueness creates several comments that we are going to address here.
First of all, IBCO creates tokens when people buy and destroys tokens when people sell them again. This creates a continuous combustion mechanism that does not allow token inflation if the price does not increase and supply decreases if the price falls. At first glance, the creation of tokens by IBCO could be seen as an infinite inflation machine that will hurt the price, but in reality the mechanism is quite different: the Bancor formula that controls the IBCO ensures that for each price increase, the amount of tokens minted decreases. exponentially.
Basically, IBCO’s token issuance stabilizes as the price rises, reaching less than 34 million issuances at $ 10. In addition, as the price increases, the IBCO accumulates more and more collaterals that create inertia in price movements. For example, at a price of $ 1, IBCO will accumulate approximately 6 million DAI in collateral. If you want to conduct a parallel with Uniswap, this would be equivalent to having 12 million liquidity in an OVR / DAI pair. Such an amount of collateral makes IBCO’s price “slower” than any other market, as none of them have such a massive amount of liquidity. Finally, the liquidity of the IBCO is a guarantee for the token holders. In fact, the team cannot withdraw it. Only 50k can be withdrawn per month and such a mechanic is awarded by a DAO under the Aragon framework.
But, that’s not all, OVR tokens are also continuously consumed on OVR and sales, lately we are selling between 30k and 50k USD on OVRLands and all those payments are made with OVR tokens. Those tokens are never put into circulation again by continually subtracting OVRTokens from the market. But how is it possible?
Thanks to IBCO! Of course, OVR (the company) needs to exchange a portion of those tokens to pay for development and marketing, in general this would create high speed for the depressing price of the token. But, in OVR, this is not the case: as a general rule, the maximum amount of OVR Tokens converted back to DAI is 50% of the daily sales of OVRLands and when the tokens are converted, they are sold back to the burning IBCO the Tokens. ! Basically, OVRLand sale tokens are never circulated again and if there is a conversion that takes place at the IBCO, thanks to the amount of collateral, the impact on the price is minimal. Does this guarantee that the price will go up? Of course, no,
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How to buy OVR.ai (OVR) Token With Gate.io ?
first thing we have to do is create an account in Gate.io if we do not have one, so here is the link: Gate.io Registration.
STEP 1 TO BUY OVR.ai (OVR) Token:
first thing will be to register in Gate.io if you are not already, so here is the registration link: Register GATE.IO
Once we are registered and with everything verified, we have to buy USDT to exchange it for OVR Token and since it cannot be purchased with a card at Gate.io, at least in Spain, we will use Binance to buy it and transfer it to Gate.io.
To buy USDT on Binance we will use the same method as buying ETH in the uniswap tutorial , but we simply buy USDT instead of ETH.
STEP 2 TO BUY OVR.ai (OVR) Token:
Once with our USDT we have to transfer them to Gate.io and for this we have to go to our Gate.io Wallet and click on “Deposit” to deposit the USDT.
By clicking on “Deposit” it will take us to the next page, in which we have to select the currency we want to deposit (USDT) and choose the TRON network.
We copy the address and go to the Exchange where we have the USDT, in our case it is Binance and we give it to withdraw, we have to paste the address that we copied before and choose the amount to withdraw.
And that’s it after a while we will have our USDT in Gate.io.
STEP 3 TO BUY OVR.ai (OVR) Token:
Now we have to enter Gate.io and hit the market, and then hit “Professional”
Now we have to search for “OVR” in the search engine and we will select the “OVR / USDT” pair.
Once we give “OVR” we go to the bottom right and put the amount of OVR that we want to exchange for USDT.
We give you to buy and that’s it, we already have it in our Gate.io Wallet.