OVR AMA Recap

OVR AMA Recap

CryptoDiffer team

Hello, everyone!

We are glad to meet here 

Diego Di Tommaso, COO at OVR (@DiegoDDT)

COO at OVR, Diego Di Tommaso

It’s a pleasure to be here!

CryptoDiffer team

Let`s start from the intro:

Q1: Can you introduce yourself to our community ?

COO at OVR, Diego Di Tommaso

I’m Diego Di tommaso, the co-founder and COO of OVR. I’ve been working in blockchain and innovation in the last 7 years, lately collaborating with PwC on Open Innovation projects

Starting now with the presentation

Imagine to rethink our world overlaid by 1.6 trillions of digital lands that live inside a Blockchain as NFTs. Imagine a new Augmented Reality eco-system based on this global digital Real Estate. Imagine that you can Explore this new world with the Smartphone you have in your pockets. OVR is a decentralized platform for geolocalized AR.

What’s the difference between Virtual Reality and Augmented Reality? For VR you need an expensive and not broadly adopted headset, While you can experience AR with the smartphone you all have in your poket. VR puts you in a completely imaginary world, AR mixes virtual and real world together. To give you an idea of the potential of AR vs VR just think at tis two numbers, 80 Mln VR Headsets VS 3.5 Bln smartphones capable of delivering AR experiences.

You probably heard about the success of Decentraland. OVR is similar in the sense that as decentraland we have land that is represented by NFTs but is also very different since while Decentraland NFTs represents a totally virtual world, in OVR OVRLand represent real geographic locations. Each OVRLand represents a plot of 300 Sqm mapped to the real world.

OVRLand NFT is a spatial domain. Just like in the web you need to own a web domain to publish some content over it, in OVR you need to own a spatial domain (OVRLAnd NFT) to publish AR content over it. Imagine you buy times square in New York, you will be able to control what augmented reality experiences people will see over there!

Why investing now in OVR and it’s tecnology. Because today we’re at a technological tipping point, smartphones in your pockets are cheap but powerful enought to deliver high quality AR experiences. Because there is no real winner in this ecosystem yet, OVR can easily become the leading AR platform. And finally because the market potential is huge, AR has been growing 90% Yeor over Year for the past 5 years and Covid pandemic just accelerated this trend.

Just think about pokemon go success story, the just have one single game but were alble to get to 100 mln users just in the first year (most of them in Asia) and by the end of this year they will get to more than 600 million users.

How much money did they made? More than 3 bln just in 2019, and that is just a single game!

OVR platform will not only cover VideoGames but also many other use cases such as: Live Events and Retail, Real Estate, Gambling, Tourism, Healthcare and Education. Such a range of applications cover over 85% of projected AR use case categories according to a Goldman Sachs report. OVR vision is to become the leading platform for geo-referencd AR content management and fruition imagine how big is the potential. Our OVR Live provides a social platform that improves virtual communication into another level.

We just launced our first MVP but we already have promising early traction: over 38k users on telegram, 4 very active WeChat groups in just one week, 100k+ dowloads of our app, over 50k physical locations discovered by users of OVR treasure hunt.

Here you can see the details on the treasure discoveries of one single user, check out here https://www.ovr.ai/treasure-hunt#treasure-map for live updates.

So how to buy OVRLand? We could not give a price for each single OVRLand in the world – there are 1.6 trillion of those – so we will let the market decide. Users will be able to buy OVRLands with an auction, base price will be 10$ payable with OVR tokens. If in the next 24 hours nobody will make a new bid, the OVRLand is yours, if there is another bid on the same OVRLand the minimum accepted is double the price of former bid and the 24 hours clock starts again. This will make the price grow very fast and quickly find the right market price for each land.

During the first 9 months we will incentivise OVR users to buy OVRLands, how? If you buy an OVRLAnd in the first month since the launch of the IBCO will will give you back 95% of the OVR tokens you spent after one month. If you buy an OVRLand in the 2° month since the launch of the IBCO we will give you back 85% of the OVR tokens you spent after one month. And so on until the 9° month when the promotion will end. You will be able to buy OVRLands also with other tokens such as ETH, DAI, USDT, USDC but in that case your purchasing power will be ½ and you will not have cashback.

OVR tokens (ERC_20) distribution will happen with an Initial Bonding Curve Offer, IBCO. The price of tokens will not be fixed but will depend on the amount of people that will want to buy those, few people = low price, a lot of people = high price. No pre-minted tokens for public sale. If investors want to sell the tokens they will not have to wait for the end of the IBCO, they will be able to do it immediatly by selling those back to the IBCO. Tokens sold back to the IBCO will be burned increasing scarcity. DAI invested in the curve, will stay there to ensure liquidity for investors that want to exit, maximum amount of DAI that can be withdraw by the team is 50k USD monthly. All this rules are guaranteed by smart contracts of the Aragon DAO framework.

The following is the shape of the curve, starting price will be around 0.1 USD for each token, the more peolple will buy the more the price will increase following an exponential curve. Price will increase faster than the amount of tokens. Partecipating early to the sale will ensure lower price.

You will also be able to earn OVR tokens by staking those to IPFS nodes hosting AR assets. Also there will be some very high value lands that will be distributed to people partecipating to liquidity mining on Uniswap by providing liquidity to OVR/ETH pair.

On every startup the most important thing is not the idea but the team executing it, transforming the vision in a real business. That’s why at OVR we built a core team of senior entrepreneurs with proven trackrecord in the field and with the ability to deliver on the business plan.

Finally a team of prestigious advisors, from silicon valley to MIT and blockchain space, decided to join the forces with OVR endorsing team and the vision.

CryptoDiffer team

Q3: Can you tell us more about the coming public sale? How can people participate? 

COO at OVR, Diego Di Tommaso

Of course, people just need to go on our website and perform the kyc. Than loggin in with metamask on desktop or even with IMtoken on mobile phones. The IBCO will start on 30th of november, better join early sice because of the bonding curve shape first partecipants will have very convenient price! 

The bonding curve accepts DAI, and you can immediatly both buy and sell back to the curve. Also you’ll be immediately be able to use IVRTokens to buy OVRLands. OVRtokens..

There is no fixed supply in the IBCO, at the beginning 0 tokens will exist, tokens will be minted by the IBCO when people buy and destroyed if people sell those back to the bonding curve.

Also all of the liquidity generated by the sale of the curve will stay in the pool to ensure liquidity to investors that wants to exit, the team will be able to withdraw a maximum of 50k DAI/month.

If you want to know more on IBCO mechanic and advantages over traditional ICOs please refer to this article 

Understanding IBCO: Can Another Crypto-Funding …hackernoon.com › understanding-ibco-can-another-cry…

 

Cryptodiffer Community

Why did you choose to combine blockchain tech with AR? How do the IPFS nodes function on the platform?

COO at OVR, Diego Di Tommaso

We needed a system to assign control and property to geographuc locations on order to publish content on that. Blocckchain was just the perfect usecase.. Just like in the web you have the web-domains and who owns those will control the content that can be published on those, on OVR you have OVRLands that are spatial domains are refer to real geographic coordinates, who owns a spatial domain will control the AR experiences that will be visualized over it

Cryptodiffer Community

What is your background and how did you come to the idea to create your project?

COO at OVR, Diego Di Tommaso

Me and Davide Cuttini our CEO have been running acompany developing AR/VR technology for 7 years. We was building single use cases for companies. We dicided to take this know-how and build a platform , a scalable project to easily build AR/VR experiences over it

Cryptodiffer Community

Are you a global project or local project? Can anybody anywhere use Your project without any restrictions???

COO at OVR, Diego Di Tommaso

Yes we’re a global projects, there are no restructions to using our tech

Cryptodiffer Community

I’d like if you can give us more details about your tokenomics.

How does OVR intend to change the Crypto and cyber worlds? ie, what new ideas are you bringing in? What ideas are you improving on

COO at OVR, Diego Di Tommaso

There are already succesfull projects of tokenized virtual worlds such as Decentraland and Somniunm. Our main difefrences are: The target market: we focus on AR/VR on mobile (3.5bln devices out there) VS VR headsets (80 mln out there) Teh reference system: our OVRLAnds refer to real and unique geographic coordinates, not to purely virtual worlds

Cryptodiffer Community

As Asian is the largest democracy in the world, how you are seeing Asian Market for project adoption and growth?

COO at OVR, Diego Di Tommaso

Asian market is a very important market for us, we have a chinese speaking marketing manager and actually the community there is very hot, we have 5 wechat groups and 80% of the partecipants to the treasure hunt are  actually from asia

Cryptodiffer Community

What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

COO at OVR, Diego Di Tommaso

We are engaged with Peckshield, one of the leading DeFi and smart contract auditors in the space. They have audited big blockchains to the value of billions and some of the largest exchanges so we should be in good hands. Our first audit review is returned with feedback at the end of November. We will publish their report.

Cryptodiffer Community

At the moment , where you are focusing right now ? building and developing product or getting customers and users, or partnerships ? Could you share it With Us?

COO at OVR, Diego Di Tommaso

Yes community is our N.1 priority, without it the project is worthless, today we was able to drive 80k dowmoads of our app. Our main strategy for onboarding new users will be to organize live virtual events with famous artist on OVR, this will let the community grow very fast

Cryptodiffer Community

Many of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to  long term?

COO at OVR, Diego Di Tommaso

Our vision is to built the infrastructure for the spatial web, buying OVRLands of famous lacations today will be as buying famous webdomains in the 90s. There is only one www.love.com and tehre is only one Times Square

Cryptodiffer Community

Token burn” is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your great project have a plan about token burn?

COO at OVR, Diego Di Tommaso

In our case token burn is handled by the bonding curve, if investors sell tokens t the bonding curve, it burns the tokens gibìving bacj DAI. This ensures that in the case price goes down also total amount of tokens goes down. In part this also protects the price of the token

Cryptodiffer Community

Do you have developers building DeFi protocols and Dapps on the OVR platform?

COO at OVR, Diego Di Tommaso

Not really DeFi but we have some features of DEFi like the liquidity mining. From day 0 all the earth will be for sale on the auction but there will be some very special locations such as the Tour Eiffel that you will not be able to buy for any amount of crypto. The only way to buy those will be by liquidity mining on Uniswap and other Dexes we’re closing partnerships with

Cryptodiffer Community

How will Your Project convince people who has a little knowledge about crypto currency to partake in the project ?

COO at OVR, Diego Di Tommaso

Actually final users will not have to necessary jnow about blockchain, the app that you can already test does not have anuy crypto knowledge required. Also the in-app purchases that we will implement will be as easy as paying with credits in any game

Cryptodiffer Community

As we know Scalability is a major problems in most of Blockchains & Dapps. So, How Your Project solves Scalability problems and allows Dapps a great scalability?

COO at OVR, Diego Di Tommaso

In terms of scalability we’re currently exploring the opportunity to use XDAI or Matic. Also waiting to see if optimistic rollup comes up early enough. Right now the average cost for minting and OVRLAnd is 3$

Cryptodiffer Community

Am An Investor. If I Invest In OVR, How Many Days Will It Takes Me To Cash Out?

COO at OVR, Diego Di Tommaso

You can cash out the minute later you invested, this is the great advantage of IBCOs over ICO, if you want to see a live example go to check Aavegotchi IBCO

Cryptodiffer Community

OVR aims to create a Brigde between the Blockchain technology and reality, so can you explain how OVR can be used in the real world?

COO at OVR, Diego Di Tommaso

Pokemon go style games, AR Virtual assistans telling you about products, services or locations, tourism, histoirical reconstructions, live events and many more! Will be out the next month with our first AI avatar virtual assistant!

Cryptodiffer Community

What is OVRLand governance mechanism like? Who has the right to participate in the voting process? What are the requirements to participate?

What is the function of $OVR token in the  OVRLand ecosystem. How do we get reward by hodling $OVR , do you have a staking or mining program?

COO at OVR, Diego Di Tommaso

With OVR tokens you will be able to buy OVRLands, in-app purchases (skins virtual gooods etc.), stake for IPFS nodes, partecipate to liquidiity mining and last but mot least partecipate to governance by voting for purposals on OVR DAO powered by Aragon framework

Cryptodiffer Community

Are you planning to promote your project in different countries, where English is not good? Do you have a local community for them to better understand your project?

COO at OVR, Diego Di Tommaso

The only nort englishs peacking communities right now are  CVhina adn Vietnam but we’re happy to consider other high potential locations

Cryptodiffer Community

Any partner who has a big influence in the development of the OVR?

COO at OVR, Diego Di Tommaso

About partnerships we just announced our partnership with DASH, we we allow for the first time Dash owners to buy NFTs

Other partnerships are on the pipeline and will be announced in the comeing weeks

Cryptodiffer Community

Virtual reality games have many fans around the worlds,what is OVR plan and strategy to integrate blockchain system with VR to bring masive player!?

COO at OVR, Diego Di Tommaso

Our fisrt game has been our treasure hunt with over 51k lands (people actually going around in rwal places with a phone) discovered, we’re now working on the AR version of a virtual farming game that was super famous in china! Will be released in february!

Cryptodiffer Community

Q1. If I’m not mistaken, the only way Users can own these pieces of OVRLand is by buying them up, with an auction-style set up , with the highest bidder winning and owning them, So assuming I was able to buy one with $10k being the highest bidder, after a year and I decided to sell it, isn’t it possible for it value to have depreciated or how do I sell it above the price I bought it?

Q2. Also, isn’t it possible for someone to attempt to either forge or take away the land from me or are there mechanisms being put in place to help ensure that only the rightful owner have rights to the land?

COO at OVR, Diego Di Tommaso

Q1 yes of course, OVRLAnd can have the same dinamic of any other piece of  actual real estate, price can go up or down, depending on the request of the location Q2 That’s impossible since uniqueness in enforced by ERC-721 NFT standard

Cryptodiffer Community

Where can I buy $OVR token currently

How do you plan to drive the scarcity of $OVR token  ?

COO at OVR, Diego Di Tommaso

You can only buy OVR from the IBCO on the 30 of november. Scarcity will be ensured by many factors A) cashback policy, if you buy OVRLands inthe first month since the start of the IBCO you will have 95% of tokens back after another month, this promotion will go on for 9 months with diminishing returm. Staking for IPFS Nodes with a 6% APR. Liquidity mining in exchaneg for NFT. Last not least when you sell tokens back to the IBCO thise tokens are destroyed

Cryptodiffer Community

What are the differentiating traits of OVR  that will lead an investor to believe that they can sustain the business model in the long term , after the present ‘phase ‘ of defi crypto projects has passed?

COO at OVR, Diego Di Tommaso

We’re currently already delivering real use cases of our technology, in the last 3 months (also pushed by covid ) we generated 300k in revenues. AR has a huge potential if compared to VR Headsets basred VR virtual worlds. As mentioned we’re talking about 3.5 bln devices (mobile phoens) vs 80 mln VR headsets

Cryptodiffer TEAM

Thank you for your time! Great answers!

Thank you everyone who took part today!

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