Interest in NFTs is soaring to the point that NFT art is now displayed and sold at VR live auctions. Social distancing, resulting from COVID restrictions, has led to accelerated adoption of video conferencing and virtual meetings.
The increased interest in NFT art, combined with the use of virtual reality platforms, has led to NFT art selling at VR live auctions. One such example are the virtual auctions taking place on the virtual Ravencoin Campus.
What Is A VR Live Auction?
A virtual reality live auction is an online event where users can participate in a live auction taking place in a virtual reality world. Within a virtual world, such as the Ravencoin Campus, users’ avatars gather at predetermined times and locations to participate in organized events, such as live auctions.
How Do VR Live Auctions Work?
VR live auctions are conducted by an auctioneer, similar to traditional auctions. However, in VR live auctions, the auctioneer is represented by an auctioneer avatar.
In this virtual world, users can preview NFT art, which is displayed in one of the virtual auditoriums. Then bidders have the opportunity to place their bids live, on a chat board, where all other participants and the auctioneer can see their bids. As in a traditional auction, the auctioneer prompts and engages the audience to try to obtain the highest bid.
Once the highest bid has been called, the bidder’s avatar and an auctioneer agent’s avatar walk to a virtual private room to finalize the transaction. The transaction takes place with the transfer of the NFT and cryptocurrency via blockchain technology.
Auction Video – Skip to 9:00
How do I Join a VR Live Auction?
Joining the VR live auctions requires downloading the virtual reality world and software from Braveland.io. The download takes more than a few minutes.
To participate as a seller, it may be best to contact the Ravencoin Foundation directly.
UPDATE: See tweet below from @Humble_Miner
Why the Ravencoin Campus?
Ravencoin is a cryptocurrency designed specifically for the purpose of tokenizing assets. This includes the use of Non-Fungible Tokens (NFTs) for tokenizing artwork. The Ravencoin blockchain has immense support from a very active community of cryptocurrency enthusiasts and investors that see much potential in Ravencoin.
Blockchaintiger, one of Ravencoin’s supporters, donated a virtual space to the Ravencoin foundation to encourage remote collaboration between developers, investors, users, etc. See interview with Blockchaintiger below. This virtual space was originally named Braveland. It has been recently renamed the Ravencoin Campus.
The Ravencoin Campus is a virtual island that features multiple virtual spaces, including meeting rooms, a soccer field, a beach, etc. In this virtual world, users can hop on a speed boat and cruise around the island, they can network and meet likeminded individuals, or attend one of the many meetings.
This virtual world was created using Virbela, a virtual online platform. Virbela claims to be the first virtual world platform built specifically to solve the challenges of remote collaboration. This technology allows users to meet, host events, hold classes, and service entire remote workforces all in an immersive 3D world.
How Did VR Live Auctions for NFTs Start?
Khalid Saleh, another Ravencoin supporter, saw the vision for an NFT gallery the first time he visited the Ravencoin Campus. Khalid, CEO of Zaytech Corp and Co-Founder of Stibits, was already working on a platform to offer NFTs through Stibits, a blockchain based wallet.
It didn’t take long for Khalid, Blockchaintiger, and members of the Ravencoin Foundation to get together and create VR live auctions.
What’s next?
With an ever expanding NFT market and growing use of virtual spaces for collaboration, no one can tell what the future holds. One thing is for sure, participating in a virtual reality live auction is something worth experiencing.
For Ravencoin supporters NFTs are one way to get the word out about asset tokenization. It isn’t hard to imagine other forms of assets being auctioned in a virtual environment. Think of anything of value, either physical or digital, if it is an asset it can be tokenized, and it certainly can be auctioned and/or traded in a virtual world.
Imagine holding an auction to buy or sell a house? What could be easier than doing so through a VR live auction and doing the entire transaction with a transfer of the token representing the home and cryptocurrency? The same could apply to cars, boats, land, commercial real estate, etc. NFTs are the beginning of something big.
Interview with Blockchaintiger
Was it your idea to create the Campus?
Yes
What Platform Did You Use and Why?
I found Virbela of the Silicon Valley in 2020. It is the subsidiary of EXP (Nasdaq-listed company) and provides a virtual place service.
I found out 30,000 EXP agents were working in the EXP virtual place, which Virbela made. They have worked like that since 2008.
I saw EXP had been growing up very strongly after the Coronavirus happened. That was a “Crisis is Opportunity” thing to me. Now, 50,000 agents are working in the virtual place of EXP.
When I found it in 2020, I instantly imagined the next one: A virtual place for Ravencoin. All Ravenites get together to have RVN meetups and co-working in the place.
This idea made me so excited.
What Is the Correct Name to Use Braveland or Ravencoin Campus?
The correct name is the Ravencoin Campus, though it started as Braveland.
I like the word “Brave” because I think the crypto revolution needs “Brave Heart.” So, that’s why I used “Brave Land” for launching.
After launching, I instantly contributed Braveland to the Ravencoin Foundation, because I believed it is a public place for all Ravenites. I planned it before launching.
Are Volunteers Managing It?
Yes! Some Ravenites asked me to use the Ravencoin campus. I am not an official administrator at all. There are three official administrators who Tron appointed from the Ravencoin Discord. They are long-term Raven supporters. I appreciate their contribution.
We all are working in such a way for building the Ravencoin blocks! They will manage the Ravencoin Campus.
There will be an announcement about it from the Ravencoin Foundation.
What Was your Vision When Starting It?
The vision was to give back “freedom and passion of meeting, networking and building” to Ravenites. We need each other to build the Ravencoin blockchain. And I want to say to you. “You are not alone.” We are here together to talk, help, and build together.
What Are Some Big Potential Uses Not Yet explored?
It is all up to Ravenites. I think that decentralization and freedom is the key of success. I am sure they will find something unique, which I can’t imagine. I trust the power of the Ravencoin decentralized community.
I will always support Ravencoin as a ravenite because Ravencoin is the very blockchain that we have tried to find for a long time.
Anything Else You’d Like to Share?
Special thanks to Bruce Fenton, Tron Black, and NEOs have always supported the Ravencoin blockchain. I respect them so much! I call some Ravenites NEOs, who invisibly support Ravencoin.