Fantico, a digital platform that is a part of Vistas Media Capital is set to launch its own metaverse – called VistaVerse – at the Cannes Film Festival.
Kamal Haasan’s new movie, Vikram, is the vehicle being used to launch the digital sphere. The process will begin through non-fungible tokens (NFTs) of elements in and around the film, a utility-based NFT that will reportedly have many benefits.
“We are very excited to announce the launch of Vikram NFTs in VistaVerse, which is the first such utility-based NFTs with multiple benefits to the owner. We believe VistaVerse to be the first real and tangible metaverse in India, backed by 350 creative enthusiasts across seven businesses owned by Vistas Media Capital,” says Abhayanand Singh, Group CEO of Vistas Media Capital.
VistaVerse at present has several partnerships in place with production houses, celebrities, gaming firms, musicians and brands to bolster the backbone of its new Metaverse.
In a statement, the company said about the potential of the platform: “We will offer many more utilities to the buyers, such as access to unique artwork of characters, digital avatars, props, posters, mystery boxes, film memorabilia, fan interaction moments, private screenings, access to by?invite-only, to even a travelling VistaDome party, along with a choice to convert some of the NFTs to actual underlying tangible assets.”
The film stars Kamal Haasan, Vijay Sethupathi and Fahadh Faasil, and is directed by Lokesh Kanagaraj. The NFTs will launch on May 18, 2O22.
Kamal Haasan stated about the upcoming release: “It has been a pleasure to be a part of Fantico, and I look forward to VistaVerse, which is uniquely placed to create a bridge among fans, fandom and talent, and is built on a platform that today’s youth relate with. This will set a benchmark for more creators to use this disruption of content by Blockchain for their future endeavours.”
New ways to incorporate NFTs
Similarly with Vistas’ uniquely placed Metaverse comes another example of innovation in the space.
Step App is the first application on the “move2earn” protocol. A blockchain-based game that lets users purchase NFT sneakers to start playing (running). When users play the game, the app tracks their movement through the GPS on their mobile phones and rewards them with in-app tokens called KCAL.
These tokens can later be traded for other more senior crypto assets, allowing users to realize their earnings. Effectively you will be able to earn money by working out.
CEO of Step App, Kirill Volgin, said on the concept, “The NFT economy has ushered a variety of bull runs in the past few months. The most prominent of these has been the dominance of GameFi and metaverse products for much of 2021.”
“The greatest performing assets of last year fit into these sectors. FitFi is at the cross-section of making the physical and the digital; it’s a culmination of a very physical experience (fitness) within the metaverse, through the use of NFTs and geo-location technology.”
In regards to the VistaVerse, venture capital, and the role of larger players in the decentralized blockchain space Volgin added, “There’s been a strong debate over the role of VCs in web3. If ownership is to be decentralized, then large institutions should likely not own big stakes of protocols.”
“The community has been vocal about this cause. In line with the future of web3, we’re running the initial token distribution in one of the fairest models possible rather than offering tokens to VCs first, everyone is given an equal and fair chance to join the event, at the same terms.”
“Besides that, the team is building the first protocol for move2earn. Step.app is the first application, but the protocol will be open for everyone to come and build on it.”
On the potential of the VistaVerse, Volgin was positive in stating that any adoption is positive overall to the marketplace but that being a pioneering presence in anything is always going to be a challenge.
“The developer experience for Web3 is rife with inconveniences, including bloatedness, lack of protocol standardization, limited support for other platforms, and many more.”
“These issues aren’t vocalized beyond the Web3 developer community. To bring some of these issues to light, let’s dive into some of the most common problems for Web3 builders.”
He added, “Building scalable web3 infrastructure is always hard.”
With over 80,000 pre-registrations and a beta launch scheduled for this quarter. Volgin is hopefully on the app’s success and the ongoing push of further concepts like the VistaVerse.
Volgin concluded, “Web3 is upon us and it’s spreading like wildfire. The world is no longer waiting to see how a blockchain-based future will emerge and penetrate more than the crypto bro lottery.”
“A decentralized layer of web infrastructure is impacting how business is executed, how finance is handled, how charities fundraise, how art is being bought and sold, and how brands are marketing.”
“If you’re a business owner wanting to dive into Web3 while witnessing the rapid pace of crypto, DeFi and NFTs, you might find the landscape a bit intimidating, or you might be unclear about Web3’s vital importance.”
“Don’t listen to the advice of the naysayers. Just because they did not make it, doesn’t mean you can’t!”