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Virtual Trading Has Just Begun

Aug 14, 2019

When I was young, Adventure was a big deal. Adventure was a text-based, exploration game I played at my dad’s office while waiting for him to finish his day.

The game involved finding your way through a mythical cave where you’d encounter evil dwarves and magical items to help you through the labyrinth. It was the game that started the adventure game genre.

While I had an active imagination, I always wanted to see the four walls of the cave, to see the objects I was picking up, and to experience the virtual treasure I had found. It took decades for that to happen.

Today, virtual items are a big deal. Virtual items can either be digital items or a digitized version of a real-life item and are primarily used in video games and online communities.

And up until today, those items could only be examined in static form, either in the game itself or in a virtual item marketplace.

According to WAX and Terra Virtua, that’s all changed. Owners of virtual items trading on the WAX Blockchain can interact with them in augmented reality (AR). Terra Virtua is an AR and virtual reality (VR) platform for collectibles and has just released an AR app that allows users to view their virtual items in the real world.

“Terra Virtua is pioneering AR/VR blockchain gaming,” William Quigley, CEO of WAX told me. “We share a vision that gamers should have autonomy over their experiences and be free to use their personal virtual items in any game, at any time.”

If all of this new technology talk has your head spinning, you’re not alone. Combining AR and VR with the blockchain for trading virtual items for online games. I mean, that’s a lot to digest. So, let me break it down for you.

In my Adventure game example, imagine if I could pull those items out of the game and view them on my mobile device in three dimensions, both in the real world or in a virtual world. Then because these items are on a blockchain you “own” them, and can move them from the game “Adventure” to “Destiny” seamlessly.

What that means is that anyone that owns a virtual item can now buy, sell or trade it. And with the addition of an AR/VR viewer, potential buyers can inspect the items in any environment they want.

I know this seems foreign to most people. I get it. But this new technology hints at a new future where virtual items will represent real items that can be bought, sold, and traded without the hassle of physically shipping the item back and forth.

It’s already being done today, just not at scale. People are storing their real items in real warehouses and trading them online like digital baseball cards.

Is this a new reality or virtual one? Time will tell.


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