According to theVirtual Reality Market Forecast to 2024, published on the worlds largest market research store, the VR industry is about to face a 35% annual growth in the upcoming years.

With peoples interest in VR headsets growing, the industry is headed toward a stable path of development. Naturally, with such rapid growth comes the need for improvement.

Competitors in the VR industry are adopting new technologies and techniques to offer the best virtual reality experience the world has ever seen. One of these improvements includes the integration of blockchain as a solution for cross-reality platforms.

Cross Reality

What Is Cross Reality

There are several ways to define cross reality:

Cross reality and the VR technology in general are most popular in the entertainment industry. However, such technology has applications in numerous industries from engineering and medicine to TV, film, and marketing.

How Is Blockchain Integrated in Cross Reality

Competitors in the VR industry saw plenty of potential in blockchain as a decentralized system that could revolutionize virtual reality.

A blockchain can be useful in the virtual reality space in multiple ways:

The No Borders Corporation used blockchain to connect the virtual and the real world with their recently-formed startup calledAngeliumwhichis essentially a cross reality platform that offers an interactive lifestyle where users can communicate and offer services within a virtual world. The platform is based on unique blockchain technology that a blend of both worlds.

Founded by Rio Takeshi Kubo, the platform is going to allow users to use tokens from the virtual world in the real world, as well as sell real physical items in the virtual world.Rio also created the Angelium Wallet, which serves as a passport that connects the two worlds. His main goal is to turn Angelium into a global standard as a blockchain-based cross-reality platform.

The Future of the VR Industry

The complex technology packed under the term virtual reality is seen as the future of our digital world. VR started out as a gaming trend but this widely applicable technology quickly exceeded expectations.

Virtual reality and X reality allow users to create new experiences and immerse themselves into a new world. With blockchain at its core, cross reality will allow people to go as far as opening virtual businesses, attending events, shopping, or even selling goods or services.

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Cross Reality And Blockchain - A New Era Of The VR Industry - Forbes