Music Ally wrote about startup VRJam in April, when it was trying to raise $500k of seed funding for a technology offering live ‘XR’ streams of music performances in virtual AND augmented reality. Now the company has officially launched its equity-crowdfunding campaign.
Now the target is £250k (around $304k) which the company plans to use “to build interactive virtual environments for artists and fans”. It’s asking people to chip in a minimum of £200 for the crowdfunding campaign, which will include the ability to own shares in VRJam’s parent company, and thus get a share of any revenues it makes once its commercial service is up and running.
You certainly can’t fault the company for grand ambitions. “We will create a new world inside virtual and augmented reality, one in which social constraints like race and class are removed to create a society that is as free as possible,” is how its manifesto puts it. “In this world education is delivered to the world’s poorest people on an undreamt of scale. Content creators are paid fairly for their art and the time that fans spend online is fairly valued.”