- Digital Capital Management is an early backer and advisors include Tim Enneking of Digital Capital Management, Jory Des Jardins, Global Head of Community at ConsenSys and AR/VR expert, Dr. Rajesh Narasimha
- Since inception, Practical users have mapped over 4 million square feet and have found over 7,000 objects
- Winner of Jason Calacanis' LAUNCH Festival in 2017 & participant in Nexus Earth Conference
- Omnibus patent pending with claims focusing on the presence of crypto-asset wallets, advertising, and use of tools on mixed reality devices
- Total Amount Raised: US $150,000
- Total Round Size: US $2,000,000
- Seed :
- Minimum Investment: US $5,000 per investor
- : Preferred Equity
- US $10,000,000 :
- : US $2,000,000
Although great 2D maps exist today, they are missing a dimension. Without 3D maps, we will not have a digital overlay, a layer to our world that will propel mixed reality forward. Imagine a world where anything virtual can be embedded into our physical world. Content, apps, screens and more can exist at any point in 3D-space and react based on presence. Walk into a stadium and have a virtual version of your favorite player guide you to your suite. Have your favorite artist play for your guests at a gathering where the decor can change in a blink of the eye. Pay for groceries by tossing bitcoin at a counter that has an address embedded within it on the way out.
Practical is laying the foundation for this digital layer by crowdsourcing the information needed to help computers understand our world; creating tools that allow anyone to build, experiment with, and experience digital content in the world around them.
We have already mapped over 4,000,000 sqft. to date. We started with the interiors of buildings because people spend the most time inside, but when digital exists all around us, people will explore and care more for the exteriors too. Our process starts with scanning environments manually using phones and head-mounted devices, but as incentives grow, we expect more specialized equipment to emerge and begin to source data from satellites, drones, and autonomous vehicles.
To enable the future of more automated means of capture, we will introduce PRAX, a blockchain-based token. PRAX will allow us to reward users for the data they contribute and generate revenue for the services we provide through daily direct sales. Practical has taken the first step of building this vision by creating an engine with seamless end-user authentication using cryptography, physical environment awareness, and content delivery.
Practical has created a platform that understands where a device is in the world so that augmented reality content can be placed, autonomous computer functions can be executed, and devices can know where they are at any point in 3-dimensional space.
To build a more seamless user experience, we have focused on 4 core areas of technology:
- Blockchain-based Authentication: Our patent pending method of authentication embeds cryptocurrency wallets on every device that interacts with our platform and we use it to provide identity with anonymity to every user and device.
- World-Scale Localization: We have built the basis for a localization engine that can connect devices to a shared 3D map simply by being present in a location. Being connected to the local map, will one day be more important than being connected to Wi-Fi.
- Incentivized 3D Collection & Understanding: PRAX, our holographic token, and the user experience we have defined allows us to lead users to the data we want them to collect or help us understand and reward them for their efforts. We then take the data through a pipeline of client and server-side processing to further understand the data and send it to our cloud while keeping privacy intact.
- Content Deployment: Our deployment pipeline allows us to deploy content in our cloud back to devices across platforms. Meaning users can simply download a map from us, share 3D content with others, and have seamless access to content others have persisted in physical locations.
This technology is brought together in the GATEWAY application. First users start by mapping the environment around them, collecting PRAX along the way. Once a quality map of the area is generated, they can start to search from a library of over 10,000 3D assets or import their own on the fly to build in the world around them. All objects created have persistence, meaning things stay tethered to the physical world across sessions and restarts. Since launching our “Anything Persists” update, we have seen a variety of use cases emerge to help people educate others, give presentations, and prototype their own ideas within mixed reality.
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Practical. Once Practical accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Practical in exchange for your securities. At that point, you will be a proud owner in Practical.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because Practical is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.
Currently there is no market or liquidity for these securities. Right now Practical does not plan to list these securities on a national exchange or another secondary market. At some point Practical may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Practical either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is Practical's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in Practical’s profile.