Sensorium Galaxy, a virtual reality platform not yet launched, has hired the famous French DJ David Guetta. The platform houses its own ERC-20 token, known as SENSO.
„Similar to game currencies such as Fortnite’s V-Bucks, SENSO is used for all value transactions within Sensorium Galaxy,“ Alex Blagirev, Sensorium Corporation’s Assistant General Manager for IR, blockchain and technology, told Cointelegraph, „While this is the first blockchain application in our alternative universe, we are working on other applications of distributed registration technology,“ Blagirev said.
„One application we are currently exploring is related to how users will save their profiles on the platform. Unlike other virtual reality social platforms, Sensorium Galaxy’s avatars work with artificial intelligence, which means they identify patterns of user behaviour and can act autonomously based on that learning. As time passes, avatars become a surprisingly accurate virtual representation of oneself. That said, keeping that profile in the block chain will provide greater security and immutability.
Guetta expressed her enthusiasm for working with Sensorium, explaining that the platform is much better than current standard screen-based event display methods, according to her comments in a press release.
Expected to hit the market in the first half of 2021, Sensorium promotes funds from former Brooklyn Nets owner and Russian billionaire Mikhail Prokhorov, as well as TIDAL, a subscription-based media streaming platform owned and revamped by famed rapper Jay-Z. Sensorium sold a portion of the platform’s SENSO tokens to TIDAL for a total of $7 million, according to the release.
The virtual reality platform is positioned as a digital ecosystem in which participants can interact with each other, watch concerts and participate in other activities, all represented by digital formations created by them.
Sensorium will feature shows built by Guetta, who has already adapted to the digital world in a year plagued by COVID-19 and subsequent restrictive measures. The DJ has worked on multiple high-traffic live broadcast events for the 2020 pandemic aid funding, including a Miami-based live broadcast program in April.
„As a first step in this multi-level collaboration, he will create a series of exclusive performances [for] the Sensorium alternative universe that can only be accessed through SENSO tokens,“ the Guetta statement said.
As for the fundamental reason behind creating his own token for the platform instead of simply using Bitcoin, Blagirev pointed out flexibility, security and compatibility. „The Ethereum network is by far one of the most popular block chains on the market, supported by almost all providers of cryptosystems wallets, exchanges, etc.,“ he explained, meaning that users can use and store the asset more easily.
„In addition, the Ethereum network offers much faster transactions than Bitcoin,“ he added. „Smart contracts have also played a key role in the development of SENSO, helping us to build trust and improve transparency for end users.
Sensorium, however, expects a switch from the Ethereum block chain to its own native network sometime in the future, Blagirev said.
Guetta is not the first music industry celebrity to move into crypto space. Several other players have interacted with the industry in one way or another, including rock star Gene Simmons.