High Fidelity to Create New Virtual World on EOS Blockchain

Blockchain and virtual reality are arguably two of the most innovative inventions of this generation.

Bringing the future to the present day, VR platform High Fidelity is creating a new virtual world powered by the EOS blockchain.

One of the earliest institutional investors to become a Bitcoin bull, Mike Novogratz and his Galaxy EOS Ecosystem Fund led a series D fundraising round for the High Fidelity platform with a $20 million investment, along with contributions from Breyer Capital, Blockchain Capital, Vulcan Capital, and IDG Capital Partners.

Currently, in beta, the High Fidelity platform aims to use an EOS-based blockchain to support billions of potential VR users in a universe of virtual reality worlds, coined the Metaverse.

High Fidelity has already developed a native cryptocurrency for its popular VR game, Second Life, using the Linden dollars as a medium of exchange to purchase goods and services within the virtual world.

For the new High Fidelity platform, Rosedale plans to issue a new stablecoin on the EOS network, called High Fidelity coin, with a 1:1 parity to the US Dollar.

In the new virtual Metaverse, users will be able to use High Fidelity coin to purchase goods and services licensed by real-world merchants.

Each transaction will be recorded on the EOS blockchain for merchants to verify.

Rosedale confirmed that High Fidelity raised over $70 million so far for the new project's research and development, staff, and new offices in Seattle, WA.Cover Photo by Martin Sanchez on Unsplash.

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