Published: 28 May 2022
Victoria VR is creating a metaverse in which people will be able to play games together, shop, explore the world and, for example, study at the university at which they are enrolled in the real world.
The Victoria VR developers are creating a metaverse in which people can play games together, shop, explore the world and, for example, study at the university at which they are enrolled in the real world. For example, if their university sets up a building in the metaverse, students will be able to “attend” lectures there instead of being physically present. Victoria VR’s vision is to create a place where people can be who they really want to be, and can make their dreams come true. The creators state on the website that people’s imaginations are much larger than the world we live in. Humans are limited by the laws of physics, the limited power of the human body, legislation and time. Victoria VR is not meant to be limited by any of those constraints. Do you want to fly like a bird or jump 10 meters high? Do you want to visit the Moon? Your dreams can come true here.
The goal of the project is to fulfil the craziest ideas, deepest wishes, and desires of its users.
The team behind Victoria VR believes that VR will soon replace television and cinemas, and change classical education, communication and entertainment. Users won’t have to travel back and forth for an hour every day to get to work, nor will they have to fly across continents to see loved ones or attend a work meeting. In virtual reality, problems such as lockdown won’t affect us, which is why the developers believe people will rediscover freedom in this environment.
Thanks to the 3D technology in the Unreal Engine, the team can create a realistic world that helps people experience things the way they would in the real world.
At the same time, this technology allows the metaverse to constantly evolve, meaning it will be a welcome change from projects that create a fixed map.
The interesting thing about Victoria VR is that it can easily integrate the virtual worlds of other projects, and so can expand the user base.
We notice that the road map is still in 4Q 2021, but that is understandable given that the last pieces of land scheduled to be sold in this period are only being sold now. This means the project is not actually experiencing any major delays.
The team aims to have the project publicly known and full of users within five years of its inception. Well-known companies are also expected to have offices and headquarters here.
Within ten years of inception, Victoria VR should be a fully sustainable economy and metaverse where people spend more time than in the real world.
The tokenomics of the project are well developed and explained in detail in the documentation. The project releases its tokens linearly.
What might be of interest to anyone looking at the tokenomics is the 50% of the budget dedicated to user rewards. This is a controversial amount in a way, yet it’s also important to remember that a project of this size and scope needs to attract a lot of users.
The release of tokens for the team and the time difference for the release of tokens from staking might also seem odd. The team will start releasing tokens every month from 2 December 2022 for three years. This means that the team can sell off all their tokens four years after the token is listed on the exchange, while investors who locked their tokens in staking for 10 years (to get the highest rewards) cannot cash out earlier. In their road map, the team state that they believe the project will be fully developed within ten years of its inception, but they have not locked their own tokens for that long.
So, if we compare the timelines in this light, it’s fair to question whether the team have any long-term confidence in the project at all and whether they might be planning to abandon it. Yet this is the darkest scenario that can be outlined at the moment, and it is still the case that it will ultimately be the people who shape this project through their activity in the metaverse, and the works they produce.
The token allocation is detailed here, showing the capital inflow from the sale of VR land and VR objects. We would note here that more of the reward funds are to be given to users than to investors who stake their tokens even for up to ten years.
Victoria VR token (VR)
Current price as of 14 March 2022 – USD 0.1307
Listed on 2 December 2021 with a pre-sale price of USD 0.0055
The maximum quantity is 16.8 billion while, as of 15 January 2022, only 4% of the total supply, or 710.4 million tokens, were in circulation. On the day of listing, it reached its ATH at a price of USD 0.711. VR can be held on MetaMask or Trust Wallet, which are software wallets. The token can be purchased on the BitMart, Uniswap and KuCoin exchanges, where most of the total volume is also traded, so in terms of liquidity it will definitely be better to get the token from there.
The use of VR tokens is quite extensive. Users can use them to purchase VR land, resources, NFTs, in-game items, clothing, tickets, courses (lessons), documents, art, advertising, travel, pay/collect rent, and more. The tokens can also be staked to participate in the DAO.
Tokens can also be earned by completing quests, exploring the world or in competitions. Airdrops cannot be included in P2E, but will also be welcome if the person is randomly selected.
People who stake their VR tokens will earn their rewards on payday, the last day of every month. The reward amounts depend on the dynamic APR and the number of days you are willing to stake your tokens. The staking calculator can be found HERE.
Tokens cannot be withdrawn before the end of the lock-in period. In addition to the VR Land Tickets described in “Land”, participants will also receive Mystery Airdrops Tickets, which follow the same principle as with VR Land Tickets, however the lucky winners will receive rewards in different forms.
Staking contracts have been audited and no errors or alerts have been found. Here is a link to the audit performed.
You can create anything you want on pieces of land – schools, galleries, billboards, or your house. You can also rent your land.
The land is almost sold out and so anybody interested needs to hurry. In addition to the last sale, it is still possible that some land will be given away in the form of competitions. At the moment, land can be purchased provided the interested party gets on the whitelist. There are several ways to do this: by owning 1 VR Land Ticket, equal to 61,888 VR Shares, which are calculated in the staking. Interested parties can lock tokens for one year, for example, where they will need 6,888 VR tokens (+- USD 3,737) or 816 VR tokens for 10 years (+- USD 442.7) to do so. This VR Land Ticket then essentially serves as a raffle in which selected winners will get on the whitelist and be able to buy the land.
In this way, people can get on the whitelist until 07:00 UTC on 2 February 2022. Pieces of land will be purchased on 5 February 2022 and distributed on 7 February 2022. The amount of land that can be purchased is yet to be announced.
– The project is running late in this regard, and it is still possible to acquire land through the whitelist process described above.
Another option is through Orion Farming, where you have to meet the staking requirements to get the land for sale. There will be a total of 2,000 pieces of land for sale.
– No longer available.
The land is divided into two types:
In total there are 168,000 pieces of land divided into 4 categories, with Tier 1 being the best and Tier 4 the worst. 20% of the total land inventory is being sold in the above method.
The Victoria VR project is scheduled to be launched in the second quarter of 2022, including a functional DAO. There is no mention of the DAO characteristics in the whitepaper or on the website. People who stake their VR tokens can participate in the DAO.
Examples of how the DAO will affect the project are:
Developers are also using technology from the Unreal Engine to create in-game avatars. The avatars will be very realistic graphically, as you can see from the image below. Advanced animation will also give your avatar emotions.
You can be anyone in Victoria VR. When creating your avatar, the tool will offer you billions of combinations with the most detailed options on the market, so you will be able to customize your avatar completely to your liking.
Although a slightly inaccurate comparison, also due to the age of these statistics, the project website provides the detailed functionality of both its work and the creations of other developers. In addition to the well-known titles from the crypto world, we can also find Star Atlas, Illuvium, and the very popular mainstream title World of Warcraft.
Why a little inaccurate? For example, with Illuvium we notice that you can’t edit your avatars, which is no longer the case since the creation of Illuvatars.
The project has very strong partnerships in place, as mentioned below, with DELL joining on 13 January 2022. This partnership will help the project accelerate development without requiring developers to compromise security.
The project is supported by:
The team consists of 18 people, including students from CZU (Czech University of Life Sciences Prague) and other universities. They are mostly Czechs, Russians and Ukrainians. The whole team is disclosed, except for the anonymous Filip Van Neuman in the role of senior CGI supervisor.
You may notice that in the team introduction they are all wearing Victoria VR headsets, meaning you can’t see their faces. However, as soon as you move your cursor over them, their face is revealed – just like you can see with Adam Bem.
“We like Czech projects and definitely support them. Victoria VR has some original ideas. For example, technology that allows the metaverse to constantly expand, change and evolve. The Victoria VR map can change over time – for example, your favorite shopping mall (holiday and seasonal decorations, etc. – all such scenarios come into play). Such an environment can attract a lot of businesses, artists, coaches, educational institutions, concerts, marketing agencies, etc. The tokenomics of the project are well developed. The inflationary nature of the token is balanced with the earning potential of staking. If you have been staking for a long time, your earnings should be higher than the predefined token inflation.
As for the quantity of tokens allocated to the reward pool (50%), it might have been better if they had put a few percent less into user rewards and instead dedicated those funds to marketing, which is now only 2.61% of the budget. Yet this is a very subjective topic, and everyone no doubt sees it differently. Some may say that high rewards and incentives for users will advertise the project on their own, but some would welcome a larger advertising campaign instead of giving away that amount of money.
The project is very interesting, and we will be happy to follow it to see what the creators have in store for us.”