NFT company Dropp GG to launch ‘Geocasting’ and ‘Mixed Reality Events’

Dropp GG, a Solana-based augmented reality and NFT platform, is developing geo-based NFT minting and “mixed reality events” related to Metaverse.

Founded in early 2021, the company will gradually roll out several initiatives this year, including collaborative NFT placements, geocasting events, AR-enabled virtual land, and Metaverse Platform Map to the physical world.

Dropp recently closed an $8 million funding round, backed by top cryptocurrency and NFT companies such as Animoca brand, Alameda Research DeFiance Capital and Three Arrows Capital. Funds will be used for IP accumulation, partnership and Metaverse/AR technology development.

One of Dropp’s major initiatives will be the launch of geo-minting of NFTs, which is scheduled to go into beta later this quarter. The term refers to specific collections of NFTs that can only be minted by users located in predetermined physical locations.

The company touts NFTs as a new way for collaborating artists, celebrities and influencers to offer their audiences exclusive collectibles, while the scarcity of unique geo-specific NFTs is designed to add value to collectors.

Dropp has been tight-lipped about other partnerships it has secured so far, but told Cointelegraph that the company will announce collaborations with several “celebrities, models and artists” next month.

The company will also launch a metaverse platform called “Dropp Land,” which will feature virtual reality worlds mapped to the real world. As part of the project, users will be able to buy virtual parcels of NFTs, receive yield rewards or rent them out to others.

AR support for the metaverse platform is also in the works, enabling users to experience “mixed reality events” with digital representations of virtual land and other NFTs purchased at Dropp Land in the physical world.

In an interview with Cointelegraph, Dropp founder Edmond Truong said the company aims to add 500,000 users to Dropp Land in the future and will focus on building a bridge between the metaverse and the physical world by allowing users to interact with their NFTs . two fields.

related: Meta reportedly plans to integrate NFTs on Facebook and Instagram profiles

Truong said the NFT market behaves very differently from any other industry, as the industry is capable of attracting anything from “crypto enthusiasts” to gamers, artists, collectors and retail traders.

Founders foresee NFT technology being widely adopted once the industry evolves further utilities For mainstream purposes:

“People will use NFTs as digital art, digital tickets, digital documents, digital identities and digital wallets, which will become critical in the near future.”

“As the idea of ​​paper money begins with receipt of exchange, NFTs will soon replace transactions that require proof of authenticity. We believe NFT adoption is inevitable,” he added.

Launching later this month on the Soulshift NFT platform, the company’s first collaborative NFT collection will feature 10,000 NFTs depicting artwork by renowned streetwear designer Hiroshi Fujiwara and artist/skateboarder Mark Gonzales.