Magic and then Scale.
How Virtual Reality evolves.
As an investment, Virtual Reality is obvious now. The non-obvious secret is that really awesome VR has been here for a while, just not evenly distributed.
The industry of “Virtual Reality” has been an enormous money loser for decades, and the investor industry is definitely scarred by that. Boost VC has been supporting founders for 7 years in VR: Shapes, TribeXR, FitXR, Side Quest, Arthur Digital, … The list goes on for rows and rows.
So why is it different today? Why should investors invest in VR today, when it has lost Billions over decades?
There are a few more obvious reasons that separate this generation from past generations of Virtual Reality, the most important ones being the advancements in graphics cards and the emergence of the internet for connectivity. However on top of those:
There are more than 10m headsets now. (GROWING FAST)
The success of a product is no longer “Is it cool”, it’s “We have X number of Weekly active users”
There are businesses in VR making millions of dollars a year
Meta has bet their entire business on this market (Important, and awesome)
Boost VC’s business has been built on supporting ecosystems, and VR smells just like crypto did just before Ethereum’s ERC-20 launch in crypto. It feels a little uncertain with a few breakout successes. But beneath that uncertainty… what we bet on are the most dynamic humans solving hard problems… and this technology has that in spades.
Once you have built a game in VR, you can’t go back to building for other consoles. The talent of gaming is escaping to Virtual Reality to take on larger and harder challenges.
Let’s bring some new investors into Virtual Reality.
When people try VR for the first time - It’s Magic. However, the repeatability hasn’t existed. Just like with the internet, and with Bitcoin… “NO ONE WILL EVER USE BITCOIN WEEKLY”… “NO ONE WILL EVER USE VR WEEKLY”.
We are headed towards a time of VR scale. It’s going to be a fun ride!