Drop GG Platform for Solana-based augmented reality (AR) and non-fungible token (NFT) platform develops geocentric NFT rails and “mixed reality events” related to this universe.
The company was founded in early 2021 and has rolled out several initiatives during the year, including partner NFT drops, geo-instrumented events, augmented reality-enabled virtual graphics and a metaverse platform that maps the physical world.
Dropp recently completed a $ 8 million round of funding backed by major crypto and NFT firms such as Animoca Brands, Alameda Research DeFiance Capital and Three Arrows Capital. Funding will be directed at the accumulation of intellectual property, partnerships and the development of metaverse / AR technologies.
One of Dropp’s main initiatives will be the launch of a geocentric NFT (Geo-minting), which is scheduled to be beta tested later this quarter. The term refers to certain sets of NFTs that can only be created by users who are at a predetermined physical location of the drop.
The company promotes NFTs as a new way for participating artists, celebrities and influencers to offer exclusive collectibles to their audiences, while the rarity of unique, geographically defined NFTs aims to add value to collectors.
Dropp has been very tight-lipped about other partnerships it has entered into so far, but it told Cointelegraph that the company will announce collaborations with more “celebrities, models and artists” next month.
The company will also launch a metaverse platform called “Drop Land” which will showcase an established virtual reality world in the real world. As part of the project, users will be able to purchase virtual NFT plots to receive rewards or rent them out to others.
AR support for the Metaverse platform is also underway, allowing users to experience “mixed reality events” that include digital representations of the virtual earth and other NFTs purchased by Drop Land in the physical world.
In an interview with Cointelegraph, Dropp’s founder, aka “Mr. Moonman,” stated that the company aims to have 500,000 users in Dropp Land in the future and will focus on building a bridge between the metaverse and the physical world. so that users can interact with their NFTs in both areas.
Related: Meta reportedly plans to integrate NFTs into Facebook and Instagram profiles
Moonman said the NFT market works very differently than any other industry due to the sector’s ability to attract everyone from “cryptocurrency enthusiasts” to players, artists, collectors and traders.
The founder expects that NFT will be widespread when the sector has several opportunities for the main purposes:
“People will use NFTs as digital art, and digital tickets, digital documents, digital identities and digital wallets will be the key in the near future.”
“Since the idea of fiat money has existed since the receipt of the stock exchange, NFTs will soon replace transactions that require authentication. We believe that the introduction of NFT is necessary.”
The company’s first NFT partner collection will be launched later this month on the Soulshift NFT platform and will include 10,000 NFTs featuring the work of streetwear designer Hiroshi Fujiwara and artist / skater Mark Gonzalez.