Cappasity token (CAPP) is a digital utility token created by Cappasity Inc., a California-based company founded in 2013 with vast experiences in the VR and AR industry.
Cappasity token was created to realize the potential of VR/AR to become a major element of commerce and business in the future–not just a gimmick for video games and 3D entertainment.
The token is designed to build a decentralized ecosystem for augmented reality (AR) and virtual reality (VR) communities while at the same time, empowering the ecosystem by facilitating the trading of 3D content across a marketplace.
The platform’s vision is mainly driven by the team’s beliefs that the AR/VR revolution will be caused mainly by content creation.
With that in mind, Cappasity is a trustless decentralized platform that leverages blockchain infrastructure to create, rent, and sell 3D content for the AR/VR community.
Unlike other projects in the same vertical Cappasity already has a working content sharing platform that gets roughly 1 million views a month, a staggering feat for a platform only in its infancy.
We recently sat down with Kosta Popov, the CEO of Cappasity to have a chat with him about the project as well as finding out his thoughts and insights.
Hi, Kosta. Thanks for joining us today. Can you tell us more about yourself and Cappasity token?
I have been working as a software company CEO for over ten years. I founded my first IT company in 2005 and it specialized in video game development. Since that time, I have produced software and game projects for PC, Sony PSP, Sony PlayStation 3, Microsoft Xbox 360, Apple iOS, Google Android, and Web/SaaS.
We set up Cappasity in 2013 to develop 3D digitizing software for fast and accessible 3D content production. Then we launched the Cappasity platform in January 2017. The platform allows users to easily create 3D images of their products and place them on their websites.
Currently, we are working on a new version of the Cappasity platform that is based on blockchain technology and allows for easy, quick and inexpensive production and exchange of high-quality 3D content. Our AR/VR Ecosystem for 3D content exchange is a global environment that is fueled with a new digital currency – Cappasity token (CAPP). All payment operations will be conducted in CAPP within the Ecosystem.
First off, why did you decide to use the blockchain in building Cappasity platform and marketplace? What can the blockchain do that other technologies cannot?
Blockchain technology is used to deal with several issues. The blockchain ensures decentralized and trustless copyright storage. When exchanging content, the Ecosystem participants are sure that their copyrights are protected and they will not be cheated. That’s why all content and its exchange details are immutably stored in the blockchain and cannot be altered retrospectively.
In addition to this, this technology allows for nearly free, instant, and transparent global financial transactions. When 3D content is being sold via the marketplace, it is sold at the seller’s price and the Ecosystem participants are charged close to no fees. Therefore, content will be distributed at minimal prices within the system. The content owner receives payments for each transaction very quickly and without failure. Thus, the blockchain-based financial transactions are instant, transparent, and reliable and can be provided all over the globe.
Tell us about how you came up with the idea of Cappasity token. Did you face a problem within the AR/VR industry or do you think there is a gap in the market for Cappasity to fill?
The major obstacle that hampers development of the AR/VR industry is the lack of compelling 3D content. When we realized that the industry was facing a serious problem, we came up with the necessary solution. Our team decided to create a convenient environment for easy content production and exchange and provide the participants with all the necessary tools for fruitful interaction. Then we came to the conclusion that the system needed the payment equivalent. That’s how Cappasity token became a fundamental piece of the system.
What do you think is the biggest problem Cappasity will solve and why is the problem important to solve?
CAPP will be used to facilitate AR/VR/3D content exchange among the Ecosystem participants. When using CAPPs, creators and consumers of 3D content from different parts of the world will be able to easily find and buy anything they need.
Editors Pick: Birdchain ICO
Cappasity, a company developing a blockchain-based platform for 3D content exchange, is currently running an ICO. The crowdsale will be closed on November 22. Only one week left to buy ARtokens and become one of those who will bring the AR/VR industry to its brighter future. The AR/VR Ecosystem for
Before we move on to Cappasity token, what are you actual thoughts on the VR and AR industry? You’re obviously optimistic about it why it’d be interesting to know why–why do you think AR/VR is going to be the next big thing?
Over the last five years 3D technologies have made a quantum leap in their development. AR/VR technologies started with computer games, however today they are in high demand in e-commerce, entertainment, art, medicine, education, the military-industrial complex, and some other industries. According to a study by the International Data Corporation (IDC), the worldwide AR/VR spending is expected to be $11.4 bn in 2017 and will jump as high as $215 bn by 2021. That means that the worldwide spending on augmented and virtual reality is expected to double every year until 2021.
AR/VR technologies have become an innovative and very effective marketing tool that provides strong emotional contact with the target audience.The public’s interest in these technologies is growing due to the unique opportunities of deep immersion into a created environment and interaction with any object. Everything points to AR/VR technologies further strengthening their positions over time. I strongly believe that VR/AR and 3D technologies will soon reach a new level in their development.
Tell me about the copyright management system of Cappasity.
Stolen content and piracy are a content creator’s worst nightmare. How will Cappasity token help to build a fair system for not only the content creator, but also the customer?
The Ecosystem is decentralized. Blockchain technology ensures decentralized and trustless copyright storage. All content and its exchange details are immutably stored in the blockchain.
Each content file is assigned with an ID or a hash to prevent any copyright infringement. All hashes of all the files are listed in the blockchain and cannot be changed. Once a content transaction is done, all its details will be processed according to a smart contract protocol and cannot be reversed retrospectively.
For instance, the system won’t allow a malefactor to sell someone else’s file by claiming it as their own, or rent a file for free when the rental period has already come to an end. Thus, blockchain technology fully prevents any copyright infringement.
With the AR/VR Innovation Fund and the Reward Fund, it’s fair to say that Cappasity token wants to give back to the community. Can you explain why is this important for the business as well as the industry?
As we take care of our community, we have decided to establish two endowment entities – the AR/VR Innovation Fund and the Reward Fund. These funds are aimed to favor the Ecosystem participants and stimulate the further development of the Ecosystem.
Active and talented 3D creators, content software developers, moderators, as well as active members of the community, will be provided with systematic incentives from these funds.
When we incentivize the most talented and active participants, we motivate them to release more high-quality content and applications and actively participate in the development of the Ecosystem. Highly motivated participants are one of the key success factors for both the business and the industry as a whole.
What has been your happiest moment so far working on Cappasity ICO? On the flipside, what has been the most painful, or perhaps the most regretful decision you’ve made with Cappasity token?
I enjoy working on the project and I put a lot of time and effort into it every day. I think that my happiest moment was when we started the crowdsale and realized that Cappasity token was in high demand. To be honest, I don’t remember any regretful decisions or negative moments while working on the project.
As for now, Phase 1 of the Cappasity token sale has just ended and we are preparing for the token distribution process. Phase 2 of the sale will start in March 2018.
Is the Cappasity platform already working with notable businesses or firms? Are there any future partnerships in process? If yes, can you explain briefly about it?
Cappasity is a company that has been successfully running its business for several years, and has earned the trust of many clients.
The latest version of our platform is already used by online retailers and we start working with museums and art galleries. The platform allows users to easily make 3D images of objects and embed them on their websites.
Since it takes up to three minutes to create a 3D image of an object, our clients can digitize as many products as they need daily. In addition, our software’s high and efficient throughput allows us to significantly decrease the cost of 3D digitizing. Thus, we provide scalability while maintaining high quality, which is exactly what businesses need.
Our business is constantly expanding. For instance, we have big plans to expand our platform in Asia within the next year on Alibaba Cloud.
Tell us more about the process of designing the Cappasity token to fit your platform. As a side question, what was the thought process behind having such a large token supply (7 billion)?
We’ve settled on creation of a native Ecosystem utility token (CAPP) since using our own cryptocurrency gives us independence, flexibility and the opportunity to determine our currency’s exchange rate and our economic strategy. In addition, digital currency is perfect for C2C (consumer to consumer) economic interactions. That’s exactly what we need.
Amount of tokens should be just comfortable for distribution and usage. Since Cappasity network will have millions of micro-transactions for content usage, we think it’s better to issue more tokens and operate with integer numbers.
What do you think is the biggest challenge or obstacle Cappasity token will face? How do you plan to tackle that challenge?
As the industry lacks high-quality content, I am sure that Cappasity token will be in high demand. There aren’t any serious obstacles that will hinder the Cappasity Ecosystem’s further growth or a significant increase of the Cappasity token value that we anticipate in the near future.
Moving on to more personal stuff, what does a typical day in your life look like?
There is always a lot of work to do. We update our development schedule to make it correspond to strategic business objectives every two days and cope with marketing and advertising tasks on a daily basis. Our team also regularly track their progress in working with clients using Pipedrive. I also have a lot of meetings and negotiations with our current and potential clients and investors.
Can you express one personal opinion of yours about the blockchain? It doesn’t matter if it’s negative or positive, we just want to hear your thoughts on it.
As you know, many experts compare the significance of the blockchain with the invention of the Internet. I personally believe that blockchain technology is very promising as it opens up unique opportunities for various areas of our life. I am confident that in the near future blockchain technology will revolutionize the world we live in.
Finally, what other personal goals (besides your career) do you have in life? Is there anything else in life you want to achieve?
I am keen on scuba diving and underwater photography. I would like to undergo specialized training to become a technical and cave diver.
That concludes our Interview with Kosta Popov
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