A Blockchain platform specializing in augmented reality (AR) has forged partnerships with real estate and advertising specialists amid growing interest in its newly created crypto asset.

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Arcona is developing a layer of AR called Digital Land. Initially launching in 10 cities, with every virtual plot linked to a physical location, the company has bold plans to expand – with a view to fully covering the Earth’s surface in 2019.

By now, the company collected almost 7000 ETH with almost half of the sum coming from business magnates, interested in developing virtual projects and AR advertisement in the Middle East, in particular Dubai. The number of Arcona community members reached over 15,000 users.

Digital Land can be bought, sold, rented or donated – and the possibilities for its use are endless. AR’s appeal in the gaming realm has already been proven through Pokemon Go, which went on to become one of the most downloaded apps of all time upon release after attracting millions of users.

But according to Arcona, virtually every industry stands to benefit.

For example, theme parks could begin adding virtual effects to their rides. Not only could this exhilarating element boost monetization and increase engagement, but the content could be changed continually to encourage repeat visits.

Outdoor museums and open-air exhibitions have the chance to add a plethora of interactive content – bringing archived artefacts to life. Historical objects could be reconstructed and lost objects rediscovered, creating an immersive experience for visitors.

Arcona is focusing on the AR solutions for the outdoor projects. “We are taking 50-60% of labor-intensive work, saving developers and content creators 40%-50% of their budgets,” said Ilya Korguzalov, Arcona co-founder.  “There are very few companies developing technology for the outdoor positioning of AR projects, and we are one of them.”

“The idea of Digital Land fascinates us”

Arcona has recently begun to announce strategic partnerships with other companies that like to embrace and experiment with new technology.

One of them is the Spanish real estate company Larrot Desarrollos Inmobiliarios, which has announced it intends to acquire Digital Land in Spain.

The company’s executives say Arcona gives the architecture and design sector the opportunity to showcase virtual projects anywhere in the world, while opening up new opportunities for cultural preservation.

In its white paper, Arcona argues that traditional platforms for advertising are oversaturated and losing their impact. The amount of billboards in the physical world is finite, launching a campaign is expensive, and these ads are often competing for attention with smartphones and tablets.

The company says Digital Land generates desperately needed new space for advertising, while creating exciting formats for businesses to explore. Interactive banners could become a mainstay in the world’s busiest locations, with brands getting the chance to promote their products in areas with a footfall of millions.

Arcona has also partnered with Advir, a programmatic monetization platform that specializes in AR and virtual reality (VR.) As part of the deal, Advir would allow owners of Digital Land to indicate which areas can be used for advertising – enabling the process to become automated. Members of the public who see these ads would even be able to make purchases there and then.

A team with a track record

Arcona is the brainchild of the Piligrim XXI team, who have been developing augmented reality projects for the past five years.

So far, they have sold eight AR parks which are now operating in six countries across Europe. In one example, a Teutonic knights’ castle was reconstructed in Latvia – with 200,000 people over a three-year period visiting the small town of Ludza to see the creation. Tourism numbers were boosted by 30 percent – generating welcome revenue for local businesses.

Piligrim XXI says one of the biggest expenses with each project was traveling to sites so virtual objects in real-world locations were geographically positioned accurately. One of Arcona’s unique selling points is remote positioning, which would mean installations can be designed and embedded without the developer being required to visit the site in person.

By now, the startup has already ‘sold’ 5 mln square meters (1235,5 acres) of Digital Land in prime locations in Madrid, Dubai, Tokyo, and New York.

Arcona is now in the initial coin offering phase, which will end on May 15. Those who contribute could win a plot of Digital Land in one of the world’s most coveted locations.