DenCity is a Virtual Reality and Blockchain enabled platform where people can come and become who they always wanted to be and define their lifestyle and rules according to them.
Along with this, people will be able to sell goods and services within the ecosystem and earn DNX Token, an Ethereum based ERC20 token which will be used in both real and the virtual world. DNX enables citizens of the Metaverse to transact and transfer assets among themselves and at the same time these DNX tokens have value beyond DenCity's virtual life.
The primary motive of using Ethereum Blockchain technology to run DenCity is to shift the power of decision making from a few people to all the stakeholders of the system.
Since the rise of VR in the past few years, people have started spending more and more time in virtual worlds. Usually, this interaction occurs on platforms such as mobile, computers and enabled by VR hardware such as Oculus Rift, HTC Vive and others. According to Statista, the Virtual Reality and Augmented Reality market will cross $200 billion market size by 2021.
We, at Dencity, believe that rules and regulations are essential to the survival of a society. Keeping this in mind, we will be releasing a basic survival guide in Phase 0.5 but since DenCity is a world run by its citizens, we will encourage all the citizens to come together as community or sub-communities and form their own governance architectures built upon this basic survival guide.
This document underlines the key motivation, technologies and economics of DenCity.