The concept of VR can be traced back to Jaron Lanier who defined Virtual reality to explain the problems that people have to face while using next-gen goggles, gloves and other technologies. VR is an alternate world composed of computer generated images that respond to change in motion based upon the presence of human environment. Menial systems have left a mark in our daily lives, we’re using everything from the processor in a desktop to a qwerty pad on a mobile phone because someone somewhere said it was good enough. When the seed of a new technology is placed in the society, it becomes very difficult to move to a better system even if the reasons for initial adoption are not valid anymore.
VR gives us an environment that helps us to enhance our mental or emotional state. Moreover, it helps people to manipulate the physical environment. One may ask what’s the most important part of the creation, is it the software of the hardware that runs it? Both are necessary might be the apt answer. To give a kickstart to the software part of the VR technology, Gazematic came into being.
Founded by Karthikeyan NG and Mohanraj MS, the startup aims to establish itself as the Skype of VR, adding YouTube for 360° videos in it. The company has partnered with exclusive uploaders at Youtube that work in the VR section and will be giving exclusive content to the platform.
When asked about the same Karthikeyan quoted, “Building first of its kind Virtual Reality application enabled with a voice call feature where you can be in a virtual land when you are on a call with your pal. VR mode will be enabled on both the ends to immerse yourself along with your mate.” Watching a movie or a video on a VR device with someone far away over an internet call is something to look forward to. The app for the same has been named ‘Teleport Call’, which is scheduled to launch today on the Play Store.
The app will be capable of streaming 4K videos over network with adaptive streaming based on network speed of the end user. The company also plans to extend the services for advertising for real estate startups like OYO Rooms or Housing for instance. Through the app one will be able to watch the property in real-time through the VR device, helping customers get a realistic view.
Monetisation & Traction
The company is focussing on creating a premium video social networking app for VR. Where users will be able to upload their VR videos and others will be able to watch it. Some of the videos will hold a lock which can only be accessed by paying. Not only it will change the way companies advertise but will also promote tourism by giving videos like ‘A day in Goa’, where people will be able to experience the beautiful mountains, romantic sunsets and some stunning crowd just through a video.
The app is being tested by the beta customers and the company aims to gain 100k plus users by the end of this year. On the same Karthekeyan said, “With the investment, our target is to build a team of 16 members, 100K installs for the app, 20,000+ videos on our repository, 200+ India & US Advertisers on board with $180K in revenue.”
Funding & Competitors
The company is currently being bootstrapped and is looking to raise somewhere around $160,000 (Rs 1 crore) to expand the technology front and introduce more services like real estate advertising over a time of 4-5 months.
The company has no horizontal competitors in the field but is competing with other vertical players like Facebook (acquired Oculus Rift) and Youtube. New York based startup 360heros is doing something similar in the section but the Gazematic is differentiating itself in services offered by them.
Market & Analysis
According to research firm MarketsandMarkets, the international VR market is expected to reach $15.89 billion by 2020.
The investment market in the country is still sceptical about the growth of this technology. The investors are neglecting the part that mobile companies are constantly trying to tap this kind of technology. For instance, Samsung will be coming up with a new mobile phone offering the VR camera and giving Samsung VR gear for free to its buyers. The market in US is just acting the opposite where the VR technology is seen as the seed of the future. With over 77 VR companies showcasing their gadgets in the Consumer Electronic Show 2016 (CES 2016) in Los Angeles, showing the urgency of this technology.
Imagine a metaverse brimming with 3D structures where one will be able to get through any part of the world, maybe interact with them, bridging the notions of fantasy. A metaverse where we can create a new world rather than bolting out of it. This is the path people will have to choose, as the seed has already been grounded.