High Fidelity raises $35 million to bring VR Worldwide

- Advertisement -

Philip Rosedale, who is the CEO of virtual reality maker High Fidelity firmly believes that a non-interfere ledger technology is must for users to track currency and the digital objects which they purchase from the company's VR worlds.

High Fidelity has raised $35 million Series D led by a Blockchain investment firm Galaxy Digital Ventures. The other companies which have participated in the round include Breyer Capital, IDG Capital Partners, Vulcan Capital, and Blockchain Capital.

High Fidelity is developing a solid blockchain infrastructure which will handle billions of users and the company has already developed a local cryptocurrency and digital-asset registry. Here, people will be able to meet up in VR as soon as the company develops the particular hardware required.

The firm has invested a lot of resources in order to build blockchain side of its technology to provide in-game transactions and other things required by the specific service. The company believes in providing a fully functional service. But testing is the key factors for the company despite having the best advanced surrounding latency, 3D-audio and fully functional environment. Out of total 60 employees, 7-8 employees are only working on Blockchain Technology.

Few users might consider ‘Blockchain' combined with ”Virtual Reality' as an Interesting concept. However, the only person who can stop building this service will only be the Rosedale himself. Earlier, the firm had become very much popular in the mainstream virtual world called as Second Life. The game has earned millions of users currently and also started digital currency with the name Linden dollars. The currency has obtained considerable market cap in the industry.

In the current case of High Fidelity, Blockchain Technology is the only way for users to really own their digital goods which they have purchased, and connecting their digital goods to a digital persona. Digital Asset Registry will be able to handle this using its decentralized technology. The firm has also discovered the Virtual Reality Blockchain Alliance (VRBA), a special group of early adopter firms which are primarily aiming to allow users avatars move freely with various platforms and show their blockchain-linked purchases to them.

Rosedale further said that the company will record transactions on EOS, one of the top 10 Cryptocurrency in the market which has already raised a lot of money from Galaxy Digital.

The VR Blockchain based startup has raised in total $70 million in round D. High Fidelity main purpose is to attract 1 billion users in the next 10 years.

- Ad -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
- Advertisement -

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Best Blockchain Stocks: Top Blockchain Companies for Investors in 2020

Ten years ago, no one had heard of “blockchain”. Over the last five years, however, blockchain has been one of the biggest trends in...

Latest News & Updates

Fry's Investment Report: Eric's Secrets of the Richest Zip Code Portfolio Winners

Editor, Eric Fry recently took to a "Secrets of the Richest Zip Code" presentation in the desire to unveil an investment opportunity he deems...

Wealth Breakthroughs: 9-Part Video Series from Millionaire Entrepreneurs

Wealth Breakthroughs is a nine-part video series featuring wealthy individuals from around the world. The webinar series claims to teach anyone how to claim “complete...

Recovery Investing Event: Whitney Tilson's COVID-19 Market Strategy Event is May 28th

The Recovery Investing Event is an investment analysis webinar scheduled for May 28. During the webinar, investors will discover “the exact day to buy any...

Supernova by Timothy Sykes: Morning Dip Buying Penny Stock Pattern

Tim Sykes is the world's most famous celebrity penny stock trader and is hosting his 9:30AM Profits Summit on May 27, 2020. This morning...

Every investment is risky and carries a real chance at losing or gaining. None of the information here is to be considered investment advice. Seek a professional investment advisor consultation before making any investment.

No GainBitcoin contributor is licensed under securities laws and is not qualified to give personal investment advice. Read the about page and all accompanying policies for more details.

More Articles Like This

Best Blockchain Stocks: Top Blockchain Companies for Investors in 2020

Ten years ago, no one had heard of “blockchain”. Over the last five years, however, blockchain has been one of the biggest trends in...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Teeka Tiwari's The Final 5: 5 Coins to $5 Million Jetinar Details

Teeka Tiwari's The Final 5: 5 Coins to $5 Million Jetinar Palm Beach Research Group's Teeka Tiwari is hosting his 5 Coins to $5 Million:...

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...

Fry's Investment Report: Eric's Secrets of the Richest Zip Code Portfolio Winners

Editor, Eric Fry recently took to a "Secrets of the Richest Zip Code" presentation in the desire to unveil an investment opportunity he deems...

Profit Prism Platinum: Raging Bull's Jeff Williams' 3PM Profit Scan Webinar is May 28th

How would the average trader feel about making up to ten times what other traders but in only a small amount of the time?...

Tim Sykes' Millionaire Challenge: Penny Stock Trading Strategies for Students

The Tim Sykes Millionaire Challenge is a money-making program that teaches investors how to make a major profit with exclusive access that they must...

Wealth Breakthroughs: 9-Part Video Series from Millionaire Entrepreneurs

Wealth Breakthroughs is a nine-part video series featuring wealthy individuals from around the world. The webinar series claims to teach anyone how to claim “complete...