“NFTs will soon replace transactions that require proof of authenticity. We believe NFT adoption is inevitable,” said Edmond Truong, founder of Dropp GG.
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Solana-based NFT and augmented reality platform Dropp GG is developing geo-based NFT minting and “mixed reality events” tied to Metaverse.
The company was founded in early 2021 and is slowly rolling out a number of initiatives this year including partnered NFT reductions, geo-mining events, AR-enabled virtual plots, and a metaverse background maps to the real world.
Dropp recently closed an $8 million funding round backed by leading crypto and NFT companies such as Animoca Manufacturers, Alameda Investigate DeFiance Cash, and A Few Arrows Money. The capital will go towards accumulation of intellectual property, partnerships and metaverse/ Development of AR technology.
One of Dropp’s key initiatives will be the rollout of geo-minting NFTs, slated for beta testing later this quarter. This term refers to specific NFT collections that can only be minted by users at a predetermined physical location of the droplet.
1/5 Introduction: DROPP LOCATION-BASED NFTS
New era for using NFT ♀️♂️ ️@solana $ DROPP #NFTcollection #NFT #NFTCommunityRead more https://t.co/9daQSZnPqw pic.twitter.com/1rCQEN0TTi
– DROPP (@DROPPgg) January 16, 2022
The company touts NFT as a new way for artists, celebrities, and influencers to collaborate with exclusive collections for their audiences, while the scarcity of dedicated NFTs for geography for the purpose of adding value to collectors.
Dropp is tight-lipped about other partnerships it has secured so far but told Cointelegraph that the company will announce partnerships with several “celebs, models and artists” next month.
The company will also launch a platform metaverse called “Dropp Land,” which will feature a virtual reality world mapped to the real world. As part of the project, users will be able to buy NFTs of virtual lands, earn rewards with them or rent them out to others.
AR support for the platform metaverse is also in the works, allowing users to experience “mixed reality events” featuring digital representations of the virtual land and other NFTs purchased at Dropp Land. in the real world.
In an interview with Cointelegraph, Dropp founder Edmond Truong said that the company is aiming to attract 500,000 users to Dropp Land in the future and will focus on providing a bridge between Metaverse and the world. real world by allowing users to interact with their NFT in both spheres.
Related: Meta is said to have plans to integrate NFT on Fb and Instagram profiles
Truong said the NFT market works very differently than any other industry due to its ability to attract anything from “crypto enthusiasts” to video gamers, artists, collectors. and retail traders.
The founder predicts NFT technology will be widely adopted as the field grows with other utilities for key purposes:
“People will use NFT as digital art, digital tickets, digital documents, digital identities and digital wallets will become important in the near future.”
“Since the idea of paper money starts with receiving an exchange, NFTs will soon replace transactions that require proof of authenticity. We believe NFT adoption is inevitable,” he added.
The company’s first collaborative NFT collection will launch later this month on the Soulshift NFT platform and will feature 10,000 NFTs depicting artwork by renowned streetwear designer Hiroshi Fujiwara and artist/ skateboarder Mark Gonzales.