The last year has been full of tech narratives: blockchain, NFTs and even green energy polarized and energized people in 2021. But one news item caught the mainstream’s attention, and for a very good reason. Social media giant Facebook changed its name to Meta, to better align with its mission to build the metaverse. And suddenly everyone, from Mark Zuckerberg to kids on Fortnite, were talking about the metaverse. It’s on people’s lips and, importantly, on investors’ radars.
But the grandiose vision conveyed in Meta’s PR material is further away from reality than they’d care to admit. And even if it wasn’t, does the mainstream care? For starters, most people aren’t in the position to fork out hundreds or thousands of dollars on Virtual Reality (VR) headwear to immerse themselves in this new digital universe. And for those willing to make that leap, what they’ll find on the other side is, for the most part, underdeveloped and clunky. But what if there was another, much more accessible way to dive into the metaverse—a way that could fit in your hand or pocket?
Over one billion smartphones are already equipped to handle Augmented Reality (AR), and most of us are familiar with how it works. Pokémon Go and Instagram face filters showed us how simple and effective AR applications can be. And while billion-dollar tech giants were scrambling to build the next version of Google Glass, one small blockchain-based company has been working on its own ingenious solution for bringing the metaverse to the masses. They call themselves Hololoot and they are self-described as
being the world’s first AR NFT generator and metaverse built for widespread adoption.
According to their team, the Hololoot application allows users to browse through their marketplace, select any NFT-based 3D model found there and bring them into the real world through users’ smartphones. They’re supported by Enjin, one of the biggest names in NFTs, and have a growing list of backers and partners with reputations for picking the next big thing.
An AR interface for the decentralized future
Beyond viewing AR assets, users can add and transform 3D assets without requiring any specialized knowledge. This is made possible by the decentralization of the protocol and is in stark contrast to other solutions currently available on the market that require backend approval for something as simple as uploading an asset. This means that Hololoot is “self-service”, leaving users free to create AR models, mint them as NFTs and then trade them on Hololoot’s open marketplace. This decentralized solution is built on the Web3 ethos of user autonomy, meaning that your data is yours to control as you see fit.
You may be wondering what the uses for this sort of technology are, and Hololoot presents some compelling cases. Firstly, online shopping. By combining the metaverse with NFTs linked to real-life items in applications such as Hololoot, one can imagine an experience where a beautiful duffel bag catches your eye as you head into a digital Gucci store. Through the app you could inspect the high-resolution 3D asset in Augmented Reality as if it were there with you and then purchase both the digital NFT and corresponding physical item right then and there.
One segment Hololoot is particularly excited about is the growing Play-to-Earn (P2E) gaming market. Deeply rooted in crypto tokenization and NFTs, P2E allows gamers to earn real money for their time spent grinding in-game. They can sell items tied to NFTs on the open market or exchange in-game currency for other crypto assets or even fiat currencies. With Hololoot, gamers can bring these game assets into the real world to show their friends, or even take a selfie with them to share on social media. With Hololoot AR your living room transforms into a digital trophy room, and showing off rare loot is easier than ever before.
Hololoot is also developing several features which enable location-based AR experiences. One of these, known as Anchor Points, allows users to save the location of an AR asset and share it with the world. That means that you can fill your house with AR assets, and have your friends explore it on their own devices when they visit. But these kinds of location-based experiences have serious commercial value as well: brands can set up public displays anywhere for customers to engage with, and public art can transform with a single tap. With these features, it’s easy to imagine a massive spaceship landing in a city center to promote an upcoming movie or game, and with Hololoot everyone can share in the experience.
Hololoot’s crypto token, HOL
All of the features mentioned above are made possible by the decentralized nature of the Hololoot platform, and the fungible and non-fungible tokens that underpin it. HOL is effectively the AAA-pass for users wanting to do everything the protocol has to offer. Premium services and features, marketplace discounts, access to exclusive NFT drops, and more: users will even be able to earn APY on their tokens and win limited-edition NFTs through a process known as staking.
Hololoot plans to hold a public token sale between December 10 and 12, followed by a public listing. They’re coordinating with three reputable launchpads—Seedify, Synapse and Enjinstarter—to ensure things go off without a hitch.
It appears that NFTs and the metaverse are here to stay. But as it currently stands these technologies are too far removed from everyday people who need easy ways to not only connect, but understand.
Hololoot’s AR NFTs do exactly that. By making NFTs seem real, and by enabling it through devices we all already have, they’re paving the way for NFTs and the metaverse to go mainstream. With tech giants already betting big on this future, Hololoot is setting the stage for mass adoption.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.