VR Platform High Fidelity to сreate Virtual World on EOS

Virtual reality platform High Fidelity hopes that using blockchain they can reach an audience of a billion people and have raised $35 million to do so
29 June 2018   713

During Series D fundraising round a $20 million investment by Mike Novogratz’s Galaxy EOS Ecosystem Fund was gained. Also there were attracted such existing investors such as Breyer Capital, IDG Capital Partners and Vulcan Capital. 

The CEO of High Fidelity, Philip Rosedale is also known as the creator of the highly popular virtual world Second Life. He is creating a blockchain infrastructure to back a billion VR customers and has already constructed a native cryptocurrency and digital-asset registry.

The High Fidelity platform is currently in beta, so it has been partly launched. The headsets that will really take us into the big consumer market are not available just yet. A lot of our early focus is on location-based facilities.
Philip Rosedale,
CEO, High Fidelity

In the virtual reality, the users will access tokens regulated by a tablet-like device to purchase goods licensed by real-world merchants. Rosedale provides the scenario of a person wanting to look cool in VR acquiring a pair of Rayban sunglasses. The purchase and virtual sunglasses would then be recorded by the merchant on the EOS blockchain platform. 

The head of strategic partnerships (Galaxy Digital), Sam Englebardt claimed on the matter: 

It’s a global phenomenon that fundamentally requires a trustless consensus mechanism for currency, property and identity.
Sam Englebardt
Head of Strategic Partnerships, Galaxy Digital 

High Fidelity is aimed to enter in the Metaverse or the universe of virtual reality worlds. Rosedale ran Second Life in 2003, and this gave birth to a cryptocurrency named Linden dollars. That produced above $4 billion globally in virtual transactions. For the new virtual world, he will use blockchain to create a token called High Fidelity Coin. It is a stable coin paired to the US dollar,  the digital money will be needed to apply the VR platform.

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   57

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.