Sensorium Galaxy Signs DJ David Guetta, Hosts Its Own ERC-20 Token
Sensorium Galaxy Signs DJ David Guetta, Hosts Its Own ERC-20 Token
October 1, 2020
Sensorium Galaxy Signs DJ David Guetta, Hosts Its Own ERC-20 Token
Sensorium Galaxy Signs DJ David Guetta, Hosts Its Own ERC-20 Token
October 1, 2020

Sensorium Galaxy, a not-yet-released virtual reality platform, has signed a famous DJ from France, David Guetta, as the platform hosts its own ERC-20 token, known as SENSO.

Alex Blagirev, the deputy CEO of IR, blockchain and technology at Sensorium Corporation, said:

“In a similar fashion to in-game currencies like Fortnite’s V-Bucks, SENSO is used for all value transactions within the Sensorium Galaxy. While that is the first blockchain application in our alternate universe, we’re working on other applications of the distributed ledger technology.”

He added:

“One application we’re currently exploring is related to how users will save their profiles on the platform. Unlike with other social VR platforms, Sensorium Galaxy avatars are powered by Artificial Intelligence, meaning that they identify behavioral patterns of their users and can act autonomously based on that learning. As time goes by, avatars become a surprisingly accurate virtual representation of oneself. That said, saving that profile on the blockchain will provide higher security and immutability.”

It has been reported that Guetta expressed excitement in working with Sensorium by explaining that the platform is much better than the current standard screen-based event viewing methods.

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However, expected to hit the market in the first half of 2021, Sensorium touts funding from former Brooklyn Nets owner and Russian billionaire Mikhail Prokhorov, as well as TIDAL, a subscription media streaming platform owned and revamped by celebrity rapper Jay-Z. Sensorium sold TIDAL a share of the platform’s SENSO tokens, valuing $7 million in total.

As per the report, the VR platform positions itself as a digital ecosystem in which participants can interact with each other, view concerts, and participate in other activities, all represented by self-created digital formations of themselves. 

The report said that Sensorium will boast shows constructed by Guetta, who already has adapted to the digital world in a year plagued by COVID-19 and subsequent restrictive measures.

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Guetta has worked multiple highly trafficked livestream events for pandemic aid funding in 2020, including a Miami-based livestream show in April. 

The statement said:

“As the first step in this multilevel collaboration, he will create a series of exclusive performances [for] Sensorium’s alternate universe that can be accessed solely through SENSO tokens.”

As for the rationale behind creating its own token for the platform instead of simply using Bitcoin, Blagirev noted flexibility, security, and compatibility.

He explained:

“The Ethereum network is by far one of the most popular blockchains on the market, supported by nearly all cryptocurrency wallet providers, exchanges, etc. “Moreover, the Ethereum network offers much faster transactions than Bitcoin. Smart contracts have also played a decisive role in the development of SENSO, since they help us build trust and enhance transparency for end users.”

Thus, Blagirev concluded that Sensorium does expect a move off the Ethereum blockchain onto its own native network at some point in the future.

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Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.