VR Technologies – VRT – has announced the launch of its decentralized global platform for virtual reality, which will bring together developers, consumers, and investors from across the globe in the VR sector. With VRT platform, the intent is to provide content creators, media buyers, developers, advertisers, and storage and service providers, with a set of tools to enable them to generate, test, distribute and collaborate on content and ideas.
The project hopes to capture a significant share of the VR technology market, which is predicted to increase tenfold in coming three years to a total of $150 bn by 2020. Alongside this its structure is expected to shift from the current dominance of hardware, to content and software solutions. VRT believes it can mitigate current issues withholding development of small and medium size players, including high capital expenditures, and a lack of module solutions and standardized infrastructure.