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The original use case for the VRJAM platform when we dreamed it up back in 2016 was for music artists, and our software, which operates in real time, gave musicians and DJs the opportunity to 'jam' in VR!

MaticNews x VJRAM AMA Recap and Transcript

MaticNews: Another AMA on a cross chain project after the big success of past ones! Let's start with an introduction of you and your team! What past experiences you all have got if any?
VJRAM: Myself and the founding team members began developing a live events platform for virtual reality back in 2017... long before anyone used the word 'metaverse' to describe solutions like ours!

The founding team really are black belt ninjas!

My co-founder Ivo previously co-founded and built one of the world's best 3d graphics rendering platforms: https://www.chaos.com/vray/free-trial/b?utm_source=google&utm_medium=cpc&utm_campaign=965016712&gclid=Cj0KCQjwy5maBhDdARIsAMxrkw2_U8u6Xg4bHKbY7JGkNMHtO5jrCs8TLaaibVksk13y3juXzfGPUaUaAnYCEALw_wcB

The V Ray graphics engine is one of the most widely used solutions in the world for high end graphics in game and film...! My co-founder built this business from the ground up, so you could say we know what we're doing when it comes to things like 3D graphics and metaverse!

Yuwei: Our team is filled with crypto enthusiasts and metaverse peeps! I am our blockchain product manager, mainly in charge of communication with the exchanges and ensuring our launch will go successfully on the 3rd of November!!!

Our advisory board also gives a good indication of the caliber of our senior team -

https://docs.google.com/presentation/d/e/2PACX-1vR8OXYZ2xmHGAUJB7hM0XDM72uAhRBsks7RBJRybtOGWnVxSHWpbARx5r1TdJT-uD-COz39Itr6gRcE/pub?start=false&loop=false&delayms=3000&slide=id.g15d44efa899_0_102

That's a page from our white paper that lists the board members. The real super star is Susan Paley. She was the VP of product for Beats By Dre when it was bought by Apple for $2B.

Our lead developer is also a boss level guy, his last job was writing predictive AI algorithms to predict stock prices for a big London hedge fund.

MaticNews: Out of curiosity, why did you choose this name, is there any background story?
VJRAM: The original use case for the VRJAM platform when we dreamed it up back in 2016 was for music artists, and our software, which operates in real time, gave musicians and DJs the opportunity to 'jam' in VR! However theres a second part to this story which is that the visions for activating live visual effects and content inside our game world was a lot like VJ'ing (https://en.wikipedia.org/wiki/VJing)!
VJ'ing is the art of creating content live in real time on a 2D screen. This concept was pioneered by UK music producers Coldcut back in the early 90's.
We decided to take this art form concept from being a 2D format into 3D and so we called it V(R)J'ing.. i.e. virtual realty jamming and this is what our software does today - it empowers content creators activate live content inside a social game world to create amazing experiences and live events!

This video shows an example of this from real life. This is video captured during a  2 day long live event we created for the biggest music festival in Europe, Glastonbury Festival. (https://www.glastonburyfestivals.co.uk/) That event actually happened in the middle of the first wave of covid lockdown, which made it all the more difficult to do!

Everything was closed and we had to work with over 50 artists and creators across the globe (Carl Cox was in Melbourne Australia at the time) but that's the beauty of doing live events in the metaverse, distance is no longer relative!

The audience is not limited by location or distance from the event and that's a big part of what our solutions does - it makes live events scalable, distributable via the internet and accessible globally in real time!

We've actually been speaking to the owners of Space Ibiza lately about rebuilding Space inside our game world.
MaticNews: Furthermore what is vrjam.com? Please introduce the project us!
VJRAM: VRJAM is a metaverse platform that activates truly LIVE events inside a 'triple A game' quality virtual world. Other platforms in the gaming and metaverse space don't offer ways for creators and brands to be fully present in the metaverse. Using the power of motion capture, we have built a range of solutions into our platform to empower creators to project their presence into the metaverse.

If you check this video you'll see what I mean, the creator (in this case a famous DJ named Junior Sanchez) projects his movements into the game world by wearing a motion capture suit. Everything the creator does, their avatar inside the metaverse also does, live in real time with no delay. This empowers a greater degree of realism, authenticity and 'human presence' inside the virtual worlds we create.

We offer a number of different solutions for motion capture to creators, from a simple solution that they can operate at home using a webcam, all the way up to the solution you see above, which is the same kind of thing you find on a Hollywood film set.

I mentioned my co-founder Ivo before, he's also our in house motion capture wizard! Along with our developers, Ivo created a way for motion capture to operate inside a game world (or a VR space) and this is the tech you see working in the above video!
Alongside motion capture we also have an array of different ways to activate amazing special effects and computer animated content. This happens live in real time, just like the motion capture and this concept is (as I mentioned above) inspired by the notion of VJ'íng, that is, real time content creation inside a digital space. In this case the game worlds we build on our platform – what do these game worlds look like? You can find an array of information about this in this PDF presentation!

However we plan to build many more even better spaces and our community decides what we build - https://vrjam.com/public-realm/

Community members can even own the virtual world they decide to build using our location NFT solution!

MaticNews: On which chains will VRJAM be available? Is there any plan to expand to new ones?
VRJAM: When we launch on the 3rd of November our native crypto currency, VRJAM Coin will operate on the Matic (Polygon) network, (https://polygonscan.com/address/0xe84c2edca71fc3cc570c70665178d90c8721623b) however we plan to bridge to AVA and BNB / BSC asap. Ideally by the start of next year, which will make our token interoperable with these networks / chains.
While VRJAM is a live events solution at its heart its also meant to drive metaverse integration.

VRJAM was founded in 2017 with a vision to combine blockchain and immersive technology to transform human experience in digital space.  Today, VRJAM is an immersive, live experience platform built on the Matic blockchain designed to magnify the connectedness of human beings in virtual space. It will help transform the metaverse for the better and create new ways to enhance and value human experience.

Human presence is a key element of web3 ideology, yet right now human presence is barely 'present' in the metaverse!
We want to change this. We want to magnify the connection between humans inside digital space at every opportunity and by doing this, inspire people's hearts and minds!

MaticNews: Starting from your core, what are the use cases of your native token?
VRJAM: Our native token is used as the economic back bone of our virtual world. All forms of financial transactions and value exchange in our game world happen using VRJAM Coin such as:

Buying, selling and tokenization of experiences and virtual live events
Buying, selling and tokenization of avatars and player skins
Buying, selling and tokenization of public realm assets in the form of virtual buildings and public places
Buying, selling and tokenization of tickets for public ticket events and private ‘fan experience events’
Selling, tokenizing and monetising advertising solutions and adtech products
Selling, tokenizing and monetising virtual beings

Our digital item marketplace is the primary portal for engaging in the 'economic life' of our virtual world. We like to call this within our community – Endless utility!

You can find some more information on the marketplace HERE. I should also point out  that the images of the marketplace are actual real images of the software solution we are launching on the 3rd of November, not marketing content we cooked up to sell our platform!

Link to our whitepaper here for anyone that wants to dive deeper:

https://bit.ly/VRJAMwhitepaperV3

We've been working on this for 4 years and we've already used our technology to create solutions for some huge brands and big name content creators (like Carl Cox). One of the most interesting client projects weve used our tech to develop was this huge project for Twitch aka Amazon - https://5thdimensionxr.com/

We produced dozens of different live events inside our virtual wold and then streamed them to Twitch! 5th Dimension is one of our ongoing project as well, folks watching the twitch stream could then download an app on their gaming computer and step inside the virtual world that the Twitch streams were coming from!

This shows nicely how versatile our solution is and how it has use cases far beyond virtual reality. Contract price from Twitch to deliver this project was over half a million dollars. Thanks Jeff Bezos!

MaticNews: To give a further explanation of your ecosystem what are “Venues” and will we be able to do there?
VRJAM:
Venues are the buildings inside our virtual world that live experiences and events happen in. They could be anything from a  forest clearing to a nightclub to a conference hall to a castle in the sky.

When a live event activates on our world users can join the event, speak to one another, buy stuff , talk, laugh, learn, dance... Basically the next best thing to being at a real live event, only this of course is in the metaverse, rather than IRL.
Community members can submit a request to our team to build quite literally anything in our world within certain limits.
For instance, right now we're building an e sports tournament venue for Polygon Studios!

They'll use the space to host live esports events and fans will be able to come together inside this space and watch tournaments, socialize and interact with one another. We listen to community feedback, and our users will tell us what to build next!

The venue build solution wont come online fully until November 19th but when it does it will create a really new and different way for metaverse public realm to offer value to community members instead of just buying a patch of empty land that might have something useful built on it one day, our community will have the opportunity to share in the ownership of beautiful spaces and places that have an important purpose.

From our perspective this is a much more 'useful' and 'utilitarian' way for the metaverse to get built!

You can access the public realm here: https://vrjam.com/public-realm/

MaticNews: Will you add any NFTs to it? Do you see them as a core element of your ecosystem?
VRJAM: Definitely NFTs are at the core of the Venue solution I mentioned above. The way that community members invest in our public realm is by purchasing what we call 'Location NFT's'
This is a somewhat new kind of NFT replaces the old model of metaverse land, instead of owning  patches of empty land, community members own the building themselves by purchasing the Location NFT's associated with a certain building.
These NFTs also give the holders privileged access!

While the Location NFT is in the wallet connected to our platform, the holder can access parts of the venue that normal people cannot. You can think of this like a digital skeleton key or All Access Pass that get the holder into parts of the venue that regular folks cant access.
Finally the Location NFTs also generate crypto reward paid in VRJJAM Coin.
The more busy your venue is and the more people attend events inside your venue, the more rewards you earn.

By holding Location NFTs from venues that are super popular and used to stage big events, community members will generate significant monthly rewards in VRJAM Coin.

If a community member decides to build a venue on our platform and then creates amazing experiences and evets inside it, they're going to earn money, just as if they owned a popular events space in the real world.

MaticNews: Will be any rarity tools that will help us buy the NFTs?
VRJAM: Yes, the rarity is decided by the community member(s) who apply to build the venue.
Lets say I love a particular nightclub, lets use Ministry Of Sound in London as an example. As a VRJAM community member I can apply to build Ministry Of Sound inside our virtual world.
When I make the application I decide how many Location NFTs to generate and what price they should be sold at. This is a lot like being a property developer in the real world!
When the application to build the virtual copy of Ministry Of Sound nightclub is approved I can pre-sell the Location NFTs just like pre selling apartments before they are built.

In fact we've already built a digital copy of Ministry Of Sound nightclub in London:

This is a geometric copy of the main room at the venue, available as a social VR experience on our platform. Imagine if you live in Australia and youre never going to be able to go all the way to London to visit the real venue... well now you can, inside our virtual world!
MaticNews: Will you have your own marketplace in the future or will you use the traditional ones?
VRJAM: We have built our own marketplace that operates exclusively on our platform. Now once users buy our NFTs we can't (and won't) stop them from trading them on other marketplaces and we do have plans to work with other marketplaces for certain exclusive drops, but this is the exception rather than the rule.

In fact we activated an exclusive drop with Binance a few months ago -
https://medium.com/platform-stream/vrjam-announces-first-artists-to-join-platform-nft-auction-2d2137df5574

Lots more information on our marketplace in our whitepaper HERE.

Like I said at the start we have some black belt 3D graphics ninjas on our team, we know our way around a pixel!
VRJAM's also super tight with the world's biggest game developer Epic Games, in fact we received a grant from Epic Games recently to help support our work in the 3D graphics space.

We are also very good friends with the good folks at Ready Player Me, the world's leading avatar creator solution... We're just about to announce a wide ranging partnership with Ready Player Me!


MaticNews: Now that we are all super hyped! How can we join your ecosystem? In which phase of the project are we right now?
VRJAM: The white list sign up will be available until the 26th of October which will give access native token at a discounted rate before the launch  - https://vrjam.com/vrjam-coin-whitelist-signups/
And of course you can always reach our excellent team on Discord (https://discord.com/invite/vrjam) and TG (https://t.me/+Q8ggDuW-ZqE1OTk0)

We're also looking for PC gamers to join our moderation team to work on live events! You do need to have a PC / Windows computer to join the team. Team members earn VRJAM Coin for just having fun inside our platform, making friends and hosting events! Pretty cool way to earn a living!

If there are any gamers here who are interested in earning some extra crypto to have fun in the metaverse please reach out to our team on TG!

MaticNews: Let’s talk about the tokenomics! Please tell us about yours and about how did you choose this model?
VRJAM: At the start of the year we raised $2M as part of our token pre sale from these awesome and amazing crypto VC's - HERE, this wasn't done just to raise money, it was also about validating the quality of our solution by getting backing from experts in the crypto investment space. We raised these funds at a token price of $0.02.

On October 27th we'll launch VRJAM Coin on several of the world's leading exchanges including MexC and Gate.io at a $0.04 token price.
We've tried to get the token price for investors and the public to be as close as possible. To avoid an unfair situation where the seed round investors make a 10x return as soon as the token lists (like many other projects who shall remain nameless have done in the past). We also wanted to maximize the value offering for our community.
You can see here that in fact we've allocated half of the total token supply to community rewards!

The seed round closed at the start of the year, but our whitelist sign ups do get a discounted rate (Investor round B in the Tokenmics table) which is below the public sale price, however as I mentioned the whitelist closes on the 26th of October so those that are interested should sign up today - https://vrjam.com/vrjam-coin-whitelist-signups/

The initial dump concern we are VERY wary of, which is why the public sale only unlocks 5% at the point of sale. This is unconventional, usually the unlock for purchasers in the public sale is 50% or above, but we would rather have less investors than attract ppl who want to buy our token at the public sale and sell the very next week. So I hope that covers the concern about dumping right after launch.

MaticNews: Furthermore, how is the revenue being generated for the project itself which can be used to finance future developments?
VRJAM: 100%, what we want is a stable price that appreciates gradually and organically, not a giant spike and then a deep valley that we cant climb out of! The experiences that are activated in the platform come from paying customers ie. brands and premium content creators.

0:00
/

I mentioned Twitch earlier in the conversation when talking about our past clients, we have a whole array of similar customers who want to meet their fans in the metaverse and these clients will pay to access our platform.

MaticNews: Talking about the security side, the clichè question that we ask in all AMAs, are there any KYCs or audits planned?
VRJAM: We have really proven this business model over the last 3 years, we've had a wide range of paying customers from giant brands like Red Bull to small content creators who we have engaged as clients.

Actually creating a  viable business that can stand on its own 2 feet and survive is a challenge that many in the metaverse verticals and in fact the crypto vertical more broadly cant meet when they launch, and I guess this is like a de-risking solution for our investors
They understand we have been here doing our thing surviving by our own means without lots of VC backing - Our topco in the UK  is 100% founder owned, no VCs on our cap table - and this provides surety over the safety of their investment, ie. we have already stood the test of time and we are scaling up from a strong foundation.

For those that want a little more details on the background of our topco in the UK, you can find lots of information about it on the UK companies registration site -

https://find-and-update.company-information.service.gov.uk/company/11061334

MaticNews: As recap, who are your current partners and what is the marketing strategy to have a good amount of users at the launch of the platform?
VRJAM: Now for the real crypto heads here I should have also mentioned that VRJAM Coin is NOT controlled or administrated via this company, that's done via our sister company in the British Virgin Islands, Virtual Reality Jam International (BVI)

Our partners are:
Ultra Records
AWAL Records
DJ Roger Sanchez
Umek
Stanton Warriors
J Worra

Again, key partners on the technology side to help drive adoptions:
Epic Games
Polygon Studios
Ejin
Gate.io
MexC
Ready Player Me

We're particularly pumped to start building interoperable bridges with other platforms, the first of these will be with Mars4.me. You're going to be able to travel from the world of VRJAM to the surface of Mars and back again in real time!

The roadmap calls this out as being live by July next year but we expect deliver much earlier, ideally by January!

Some really exciting things planned in the next 18 months! For those that dont know Mars4.me you should definitely check them out. Partners of ours and good friends!

They've taken NASA's topographic map of Mars and used it to create a super massive game world that allows players to buy patches of land on the surface of Mars as an NFT and then colonize their piece of the Red Planet! The bridge between our world (we call our virtual world 5th Dimension) and the Mars4 world will enable community to teleport between worlds and trade interoperable digital items including player skins... fun fact: Mars4 is crazy popular in Japan! We just fell in love with the idea of being able to transport yourself to a hyper real simulation of Mars in VR. so cool!

And then once youre there watch Carl Cox play a techno set on the Mars surface looking up at the blue dot of earth in the sky above!!

Community Questions:

Community: I love the entire build if VRjam, giving a full definition of what social experience is, but I didn't see "NFT rental /leasing" feature in the whitepaper, so kindly explain if unused equipments/venues can be leased out to other players? Who decides the lending terms& conditions?
VRJAM: Any product bought through the VRJAM Digital Marketpace can be used in one of our staking pools. This means that if you buy a player skin for say 2000 VRJAM coins, then you'll be able to stake this NFT at a later ate for 2000 VRJAM Coins

Community: What are the necessary steps/cost to own/create an avatar? Will my personal information or payment be needed? Can i create more than 1 avatar and will you help retrieve avatar if stolen?
VRJAM: There will be absolutely no personal information required.

Community: It is clear that partnerships will always play a very important role in the development and growth of every project, both inside and outside the crypto arena, and no doubt VRJAM has that clear, so speaking of perhaps the most recent partnership, could you give me details about the collaboration you have carried out with Mars4, specifically, why you have decided to end it, what are the advantages and benefits that arise from it, and how do you ensure that there is a balance and/or equality between both parties involved?
VRJAM: We have built our relationship with Mars4 team based on mutual equity ie. we each derive a similar amount of value from the partnership. We love their technology, the solution they've built is a word class piece of tech. We were very impressed by it and so entering an ongoing  collaboration with another developer of high quality tech was a no brainer.

Community: Are we to expect VRJAM integration into VR? Seeing VR is a component of Metaverse and future of immersive technology, it will be nice to have VR integration of VRJAM, don't you think?
VRJAM: VRJAM is 100% VR compatible! We will support the Quest 2 headset at launch but will expand to support all other headsets asap following launch.

Community: How does VRJAM plan to onboard web2 content creators to web3?
VRJAM:  We have a business development and platform operations team who provide a full service solution to the content creators, brands and artist we work with.

Community: What products and ingredients will we be able to test by participating in the Vrjam BETA program? When we give you feedback on these, will you consider them?

Can VRJAM coin holders take part in governance and ensure the inclusion of different content? Does VRJAM have governance support and what rights does it give users?
VRJAM: Inside the VRJAM metaverse platform, users are able to:

Own and monetize experiences, artworks, digital equipment and places
Join and participate in a community of art and music lovers to have new social experiences
Express themselves by creating live experiences and digital content / art
Activated branded content and marketing solutions
Curate and activate live events from music concerts to conferences
Engage in new methods of buying, selling and monetizing IP and art
Enjoy a constantly changing, persistent virtual world which can be explored by thousands of people at the same time.
Tokenize their creations from within VRJAM’s virtual world

Our entre vision for developing our  product is based on responding to the wishes of our community and  empowering members to own and profit from the wold we build.

We dont have  a specific set of rules defining governance for all the reasons I mentioned in the message above. We do have plans to issue a governance token in the future but we need to understand more about how our community uses our platform before we define how this works.

Community: According to the website, the 5th Dimension will open its door on 19th October 2022. Can you describe more about this event and venue sales involved?.  What makes a player worthy and is he limited to owning just one venue? Which is the most profitable venue to invest in?
VRJAM: Great questions! There is no limit to the number of building users can build and / or own. Please note that the solution for accepting community 'development applications' to build new venues will not be available until the 19th of November. The venues that will be available at launch are list in this pdf presentation.


Community: Since the development of the Metaverse space is constantly growing, I would like to know if there will be certain enhanced and unique products or services where the user must pay an extra fee to access it, i.e. something like a VIP service within the Metaverse space comprising the VRJAM ecosystem?
VRJAM: The 'premium' experience available in our world really arises from owning a part of it. If you own an avatar created by a famous celebrity that imparts special powers to its owner,  or your own part of one of the most popular venues in our world (via the Location NFT solution I mentioned earlier)  you'll get access to user experiences that regular folks cant.

Community: There are 5 venues in the 5th dimension, To 'build' a new venue, one must apply to the DAO, so what makes one eligible and what tools are necessary in building a new venue? Do you have KYC process to verify users joining VRJam and prevent minors from entering?
VRJAM: Great question. To apply you just hold at least 1 VRJAM Coin. Given its illegal for minors to enter financial transactions on crypto exchanges this precludes minors from participating. This can of course be circumvented if a minor breaks the law, however we can only operate within the limits of law abiding behaviour.

Community: There are about 1 billion VRJam coin, how do you plan for the sustainability this coin especially for Liquidity providers? Do you support any deflationary mechanism?
VRJAM: The sustainability of our token is based on the fact that demand from the token is not based purely on demand from the crypto community, in fact its primary use case is as an in-world utility token to expand user experience on our platform. Because the token is much more than just a tradeable asset / commodity on crypto markets, we generate demand for the coin from a much wider pool of potential customers. The fact that much of the demand for our token is 'consumer lead' means we will have larger number of coin holders who aren't necessarily interested in trading the coin, but rather use it to access the experiences and content on our platform and thus are more likely to hold than sell. We do have a burning function within the contract for our coin as well.

Community: NFT Tickets, Experience NFT’s, Location NFT’s, Venue NFT’s, Avatar NFT’s are products in the marketplace. What is the total supply of these NFTs? How are they really evaluated in terms of its superiority?
VRJAM: The supply of these products is defined by this who create them. Ultimately our team is here to help support users of our platform and its the users (ie. community members) who will decide how to use the tech that we've built, and this incudes the solutions we offer for minting NFTs, building in the metaverse and activating (and monetizing) live events.

Community: You plan to have a VRJAM wallet, can you describe the features and potentiality of your wallet? What can be stored in it? And Is it sold for or can we download from playstore?
VRJAM: Our native wallet will launch on the 19th of November.

Community: Will VRJAM apply card payments integration with Visa or Mastercard. So many real world applications  will really propel it forward, don't you think?
VJRAM: Yes we will launch our fiat payment facility on the 19th of November, it works via an integration of this solution here -

https://wert.io/

Community: What kind of investors are you looking for and what continent is the project focused on?
VRJAM: We warmly welcome any investors from anywhere in the world to join us! We have clients partners and community members right across the globe from Asia to the USA.

Community: As the increasing volume of trade in VRJAM Coin which  equally will maintain and stabilizing its value, how are the plans to attract more users, into ecosystem?
VRJAM: This strategy is deeply connected ot the way in which we empower creators and brands to reach their audiences on our platform. By providing solutions for creators and brands with large audiences of fans we will create a continuous flow of new users who come to the platform to experience magical live events and content they cant get anywhere else in the metaverse.

Community: First of all, will it be possible for artists, creators and brands involved in the VRJAM ecosystem to monetize all their content and live events?
Finally, what strategies will you implement to guarantee users that the VRJAM token will maintain stability to its value at the same time?
VRJAM: 200% yes! This is the primary purpose of the solution that we've built!  I spent over 20 years working with profile artists and consumer brands in the entertainment industry vertical before moving into tech and we really do understand the needs of top tier clients in the Creator Economy.

Community: I read that you are working since 4 years, why launch the token now with the bear market? I’m worried to invest in presale and lose.
VRJAM: Very good question! Our solution is a consumer lead  product based on a crypto native business model. In this way VRJAM Coin as a utility token that relies just as much on consumer demand to stabilise its price as it does on the trends in the crypto market. This provides a degree of price resilience that other crypto companies who come to market without a product lead business model just dont have.

MaticNews: Thank you for this amazing and in depth AMA!
VRJAM: Thank you for hosting us, this was great!






Written By

Petrache Ionut

Oct 14, 2022