Arcona is going for a showdown – how big can the virtual property market get? Could it one day rival the real estate market we have today, which is estimated to be at $217 trillion. That’s 217,000 Billion Dollars, an unfathomably large value. Compare that to the entire market capitalization of the crypto market today at just $225 billion and you get an idea.
But real estate is just one form of property rights that we exercise in the world today. There are many such possibilities, such as patents. The blockchain can work as a solution for many of these possibilities, since it keeps a history of ownership along with proof that it was recorded at the time. It also tracks its sale and transfer throughout the history – an invaluable resource.
So what exactly is Arcona building? An entire new economy in the AR world. AR, which stands for Augmented Reality, mixes the real world with the virtual world to provide never before seen experiences. AR can be a gamechanger is technology broadly speaking – even the largest publicly traded company on the planet, Apple, is betting huge on AR with ARKit and the CEO Tim Cook has pegged the future of his company to AR.
In the AR world, there is only virtual property, but property anywhere behaves the same and has the same needs. Trading. Renting. Protection against fake proofs of ownership. History of transfers. The Arcona team is building out that marketplace to perform all these tasks but in the AR world.
Crypto and blockchain provide the perfect technology to accomplish all of these. Trades can be peer to peer and recorded on the blockchain, so no one can steal your virtual AR property from you. Everything is recorded on the blockchain. What’s more, all trades take place in Arcona’s native token, Arcon Token. This gives the tokens immediate and instant value. This is in stark contract to many other current projects especially in the ICO market that have no conceivable use case for their token whatsoever.
The project is ambitious for sure. It is high risk but the returns are potentially very high too. The market is wide open. AR can be the next big tech trend that will drive the market forward for the next decade or so. See you common smartphones are today? Ubiquitous 4G? That could be AR tomorrow. The growth opportunities are truly exponential for the company that gets this market right.
Could Arcona be the one?