ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) (FRA:GMS1) announced Monday that it is teaming up with Liquid Avatar Technologies Inc (CSE:LQID) (OTCMKTS:TRWRF) (FRA:4T5) and other digital partners to develop augmented reality-enhanced non-fungible tokens, or NFTs.
The NFTs will be used for the entertainment and digital lifestyle sectors, according to a statement.
The recently-launched Oasis Digital Studios — a collaboration between ImagineAR and Liquid Technologies – is partnering with digital entrepreneur Ruth McCartney’s firm McCartney Multimedia Inc on the initiative.
READ: ImagineAR launches AR-infused NFT creation engine Oasis Digital Studios with blockchain company Liquid Avatar Technologies
McCartney offers a host of branding and digital services to entertainers and companies in the media sector.
By partnering with Oasis, McCartney can now offer its clients, partners, and industry collaborators the ability to engage in the burgeoning world of NFTs, a digital file whose unique identity and ownership are verified on a blockchain, allowing ownership of a wide range of tangible and intangible assets like digital and conventional artwork, collectibles, memorabilia, and other items.
“NFTs are a solution for the creative community to be able to generate a brand-new revenue stream, and more importantly, royalty bearing revenue at that,” said Ruth McCartney, founder of McCartney Multimedia.
ImagineAR told investors that unlike typical NFTs, which are generally digital video or images that represent “moments in time”, Oasis will be creating and deploying embedded AR “triggers” in each Oasis-supported NFT, and to support and introduce NFT programs, brands, and participants.
The technology will allow users to engage in enabled immersive and shareable experiences through the Liquid Avatar Mobile App and AR-enabled websites. The initial program offerings will include digital artwork, with the expected expansion to trading cards, limited editions, and series, and physical product programs.
“Ruth and the team are digital experts and are super connected to a host of great artists and entertainers that we believe will benefit from new opportunities with collectible and experiential, augmented reality enhanced, NFTs,” said David Lucatch, Liquid Avatar’s CEO.
Liquid Avatar’s app will launch updates in phases, with new features expected monthly.
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Story by ProactiveInvestors
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