ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) (FRA:GMS1), an augmented reality (AR) company, has teamed up with blockchain and fintech firm Liquid Avatar Technologies Inc (CSE:LQID) (OTC:TRWRF) (FRA:4T51) to launch Oasis Digital Studios, an agency supporting the development of AR-enhanced non-fungible tokens (NFTs), the company announced Wednesday.
An NFT is a digital asset that represents a wide range of tangible and intangible content, such as digital and conventional artwork, collectibles, memorabilia and other items. However, unlike most NFTs, which are generally digital video or images like an NBA Top Shot highlight or piece of artwork, Oasis will embed AR triggers in each NFT to support and introduce NFT programs, brands and participants.
This will allow users to engage in enabled immersive and living shareable experiences through the Liquid Avatar mobile app and AR-enabled websites, the company said. The studio’s NFT artist and talent program offering is expected to launch in early April 2021. The initial program offerings will consist of digital artwork, with expected expansion to trading cards, limited editions, and series, and physical product programs.
“David Lucatch, CEO of Liquid Avatar, and myself have a long track record in the sports, entertainment, collectible and memorabilia industries,” ImagineAR CEO Alen Paul Silverrstieen said in a statement. “Oasis is the culmination of our decades of experience and professional relationships to deliver world class AR-activated NFTs to be experienced in the Liquid Avatar mobile app.”
Oasis has brought together leading individuals and organizations in blockchain technology, computer graphics, augmented reality, entertainment, art, sports, gaming, music, media, comic book, memorabilia and pop culture to support the fast-paced emergence of the NFT marketplace, the company said.
“Liquid Avatar icons have been developed with an eye towards blockchain verification and collectability,” Lucatch said. “With the recent interest and consumer frenzy in NFTs, with an estimated $340 million in sales in the past month alone, ImagineAR and ourselves felt that it was appropriate to join forces with other industry leaders to provide our unique knowledge and expertise in digital identity, augmented reality, gaming, icon and media production, security and blockchain technologies.”
The Oasis model is to create ongoing partnerships with artists, sports personalities, talent, brands and organizations, and share in the ongoing revenue of the initial and any residual sales, creating potential royalty-type revenue relationships, the company said. Such opportunities are already in progress.
“Our goals are to support artists, entertainers, major league sports personalities, memorabilia and authenticated product producers, and others in this fast-paced emerging market with innovative solutions, like augmented reality, while staying true to our roots, creating value for both ours and ImagineAR’s stakeholders,” Lucatch said.
The Liquid Avatar mobile app officially launched globally on the Google Play and Apple App Store on February 18, and going forward, new features are expected monthly. The company believes that as it plans to provide future features, regular releases will provide users with the opportunity to familiarize themselves with existing features before moving on to more comprehensive services and the opportunity to manage their digital identity and verifiable credentials.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
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