Crypto startup Anima has begun exploring ways to build augmented reality (AR) solutions for sharing and viewing non-fungible tokens (NFTs) and other content.
The company recently launched a $500,000 pre-seed round of fundraising with Coinbase Ventures, Flamingo DAO, Divergence Venture, Lyle Owerko, and Andrew Unger, according to TechCrunch.
Alex Herrity, Anima Co-Founder, said:
“As NFTs move away from being a more speculative market where it’s all about returns on your purchases, I think that’s healthy and it’s good for us specifically because we want to make things that are more approachable”
The efforts come in a bid to promote artists and their digital content to audiences amid a massive boom in the NFT market, which is expected to also fuel business for law firms, the report added.
Anima aims to increase ways to apply the technology, allowing digital objects to interact with users in real-time. Such efforts come amid speculation on AR product releases from Apple and Facebook, among others, despite the NFT and AR markets being in their early stages of development.
Neil Voss, Anima Co-Founder, told TechCrunch:
“There’s a context shift that happens when you see AR as a vehicle to have a tactile relationship with something that you collected or that you see is a lifestyle accessory versus the common thing now where it’s a little bit more of an experiential gimmick”
The company has collaborated with artists in the AR space and plan to launch a marketplace on ConsenSys’s Palm platform, TechCrunch concluded.
Several AR and NFT firms—Liquid Avatar Technologies, ImagineAR, and Oasis Digital Studios—have teamed up to promote digital art for top artists such as Jeezy and John Lennon. Analysts predict NFTs will drive decentralised finance (DeFi) and generate fresh revenue streams for artists.
