DenCity, a virtual reality immersive experience, is currently undertaking an initial coin offering (ICO) presale on the BitcoinGrowthFund platform.
The DNX token is being sold to fund the development of the platform that uses artificial intelligence (AI) and blockchain as part of a virtual reality (VR) immersive experience.
The sales target is 30 million dollars with 900 million tokens available for purchase. The presale commenced on 22 November 2017 and is scheduled to continue until 30 November 2017.
While ICOs have quickly become a very popular tool for funding new projects and start-ups, they can be extremely high-risk for investors because of their uncertain legal and financial status. In many ways, an ICO is more similar to a crowdfunding initiative based on cryptocurrencies than the traditional IPO. Individuals who buy tokens may find that their purchase does not offer them security, equity or rights in return. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence. For the token purchaser, the ICO can be a speculative venture.
What is DenCity?
According to the website, DenCity is a “meta-verse that provides a completely immersive experience to escape the bitter state that we are living in today and move out to a completely new place, world, universe or galaxy where you define the lifestyle and rules.”
DenCity Token PRE-SALE starting next week
A Blockchain and AI powered Virtual Reality World where you choose your own META LIFE.
For more info visit Our Website:https://t.co/G73CGvBrr0.#Blockchain #AI #VR #Dencity pic.twitter.com/0vuKWhpJtJ— DenCity (@dencity_life) November 24, 2017
The platform would integrate three technologies: VR, blockchain and AI. Users interact with this environment using VR or augmented reality (AR) technologies. Blockchain technologies act as a ‘governance layer’ which confirms ownership of assets held or earned inside DenCity and the rules that govern this space. Using the blockchain would also allow users to sell their tokens and other assets outside the platform on crypto-exchanges. Thirdly, the platform’s algorithms will use AI and machine learning to shape the environment while responding to the interactions of users. The user’s avatar will also have AI characteristics which allow it to carry on its activities when the user is offline.
DenCity’s first civilisation, Homestead Nebula, would allow users to begin to experience the environment. According to the website, users could develop their avatars and buy land or properties inside the space. Users would also be able to interact with one another and influence the rules and regulations of the meta-verse.
The whitepaper
The roadmap outlines a number of stages of development for the DenCity project following the completion of the ICO. Following the ICO, DenCity plans to launch the rules of the environment, avatar specifications and further enhancements to the environment. However, the roadmap is vague about the timeline for meeting these objectives.
The white paper provides an executive summary and an outline of the DenCity project. However, it does not provide much specific detail about the timelines, the fundraising strategy, the tokens, technical specifications or how the VR/AR, AI and blockchain components could interact. DenCity also has a social media presence and a number of advisors in place.
The white paper can be reviewed here.
