Solana-based augmented reality and NFT platform Dropp GG is developing geographical-based NFT minting and “mixed reality events” tied to the Metaverse.
The firm was founded in early 2021 and is progressively rolling out several initiatives over this year including partnered NFT drops, geo-minting events, virtual land plots with AR support, and a metaverse platform that maps to the physical world.
Dropp recently closed an $8 million funding round that was backed by top crypto and NFT firms such as Animoca Brands, Alameda Research DeFiance Capital and Three Arrows Capital. The funding will go towards IP accumulation, partnerships and metaverse/AR tech development.
One of Dropp’s major initiatives will be the launch of geographical-based NFT minting (geo-minting), slated for beta testing later this quarter. The term refers to specific NFT collections that are only able to be minted by users who are at the predetermined physical location of the drop.
1/5 Introducing: DROPP LOCATION-BASED NFTS
A New Era for NFT Utilization ♀️♂️ ️@solana $DROPP #NFTcollection #NFT #NFTCommunity
Read more https://t.co/9daQSZnPqw pic.twitter.com/1rCQEN0TTi
— DROPP (@DROPPgg) January 16, 2022
The firm touts the NFTs as a new way for partnered artists, celebrities and influencers to drop exclusive collectibles for their audiences, while the scarcity of the unique geo-specific NFTs is intended to add value on the collectors’ end.
Dropp is tight-lipped on the other partnerships it has secured so far but told Cointelegraph that the company will be announcing collaborations with several “celebrities, models and artists” next month.
The company will also launch a metaverse platform dubbed “Dropp Land,” that will feature a virtual reality world that is mapped to the real world. As part of the project, users will be able to buy virtual land plot NFTs, earn yield rewards with them or rent them out to other people.
AR support for the metaverse platform is also in the works, enabling users to experience “mixed…