There is growing interest in issuing assets on the blockchain. Projects such as CryptoKitties have shown the world how powerful this business model can be. It now seems CryptoCarz is trying to achieve the same goal, as they want to offer the world’s first blockchain-enabled VR racing experience. Combining distributed ledgers with virtual reality will undoubtedly have some interesting consequences.

Can CryptoCarz Succeed in the Long Run?

While one can only marvel at the power of blockchain-based assets, there is a question as to how viable this business model really is. Although anyone and everyone can issue new blockchain assets as they see fit, not every project will succeed.

Whether or not CryptoCarz will meet a similar fate remains to be determined. The team wants to take blockchain assets one step further by linking them to virtual reality racing. More specifically, CryptoCarz is a multiplayer game, with a fully immersive VR-enabled racing experience. As one would expect, there is a slight twist, as players will need to own or rent a virtual car.

Each of those cars is issued on the Ethereum blockchain in the form of an

It is evident this initiative may prove somewhat successful. There is a lot of excitement regarding blockchain assets, but virtual reality still remains a rather niche market, for obvious reasons. Such blockchain assets usually cater only to existing cryptocurrency enthusiasts, which won’t necessarily improve its chances of success in the long run. Even so, CryptoCarz may attract some mainstream attention, at least when the technology is in place.

For those interested in this project, it can be worth checking out the project’s whitepaper. Although there is no shortage of ambition where this project is concerned, it is evident things may not necessarily turn out all rosy. A lot of projects want to ride the coattails of CryptoKitties, but it remains to be seen whether any venture can even hold a candle to that project’s success in the coming months and years.