OVR AMA Recap

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.