Japanese crypto-fintech solutions company Tech Bureau has announced that VERSES, a virtual economy protocol designed to enable Virtual Reality Commerce, will be the first token sale on its COMSA Initial Coin Offerings (ICOs) platform.

Launched in August 2017, COMSA is a complete Initial Coin Offering (ICO) fundraising platform built on the NEM protocol. According to the official website, ICO token issued on COMSA platform could be converted between NEM and Ethereum blockchain via COMSA CORE engine. COMSA provides Zaif exchange to list the ICO token, and its payment service to allow token holders to spend it. In addition, it also provides private blockchain software “mijin”, for managing tokens in the internal blockchain ledger in a system.

VERSES is a virtual economy protocol and immersive design framework for secure authentication and monetization of any virtual element such as assets, objects, avatars, environments from within augmented, mixed and virtual reality experiences utilizing blockchain technology. The VERSES protocol will include support for standard gaming, mobile AR, and VR development and distribution platforms, making it useful for the millions of game and app developers transitioning to immersive entertainment, e-sport, education, and commercial applications.

“VERSES is a truly disruptive application of blockchain technology that will usher in the era of vCommerce for Virtual and Augmented Reality experiences. eCommerce rose from simple transactions to a multi-trillion dollar online marketplace within 20 years. We think that VERSES, utilizing the power of COMSA, will be well positioned to be the go-to protocol to power the new virtual economy,” said Takao Asayama, CEO of Tech Bureau.

Tech Bureau said that the VERSES token sale will take place in early 2018. A percentage of the token sale will be allocated to fund extraordinary AR and VR projects by the developer community in order to incentivize the adoption of the protocol. A percentage will also be allocated to commercialize breakthrough AR/VR technologies from the academic and research communities to accelerate the quality and ease by which designers create virtual experiences.

“This next generation blockchain architecture enables VERSES to deliver secure and scalable peer-to-peer transactions by and between individuals and organizations from within Virtual & Augmented Reality,” commented Gabriel Rene, Co-Founder of VERSES.

In a separate announcement, Tech Bureau announced its partnership with renewable energy company Looop, cryptocurrency mining technology company Crypto Mining Japan (CMJ), and its cryptocurrency exchange Zaif. Looop and CMJ will utilize resources in the COMSA ecosystem for their ICOs – Looop plans to hold its ICO from December 2017 to February 2018, and CMJ from December 2017 to January 2018.