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Victoria VR ($VR) Victoria VR is quite an ambitious project aiming to be a VR based MMORPG built on Unreal Engine. It promises a virtual world with stunning visuals, user-generated content (UGC) through their VR Builder, and P2E mechanisms powered by crypto. • Immersive VR Experience: Built on Unreal Engine, Victoria VR aims to deliver realistic graphics with great gaming mechanics and immersive gameplay that transports players into a vibrant virtual world. The goal is to allow players to truly feel present in the virtual world whether they are exploring fantasy landscapes or battling monsters • The only currency for the Victoria VR world (to purchase lands, assets and transportation for example) • Staking program (354m VR staked so far for an average period of 3195 days) • Governance mechanism Comps • Victoria VR is currently valued at around $396m which can be compared to the following projects in the similar sector • Decentraland: $941m FDV (2.5x) • Sandbox: $1.3b FDV (3.5x) • Axie Infinity: $1.8b FDV (4.9x) Personal thoughts: • The project seems extremely ambitious in its vision and faces a seemingly insurmountable technical + capital challenges to realise the vision • Projects have not solved the sustainability of P2E games yet (in terms of in-game economy and player retention) as we have seen with many projects that have faltered • However, I think the world already experiences a “lonliness epidemic” due to us being glued to our screens 24/7, games/metaverses that mimic the real world could drive more people to escape their reality • $VR has a memeable ticker similar to $AI + it is timely with Apple's Vision Pro launch • CQB launches on 9th Feb and early Access to the Victoria VR Metaverse launches in April
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