Last week, Bitcoin rewards and payments providers ‘Fold’ debuted an augmented reality (AR) add-on to its smartphone application, meaning that users can earn Bitcoin by exploring an immersive and interacting with an AR environment.
Fold partnered with US augmented reality (AR) software development firm Niantic – known primarily for Pokemon: Go – to introduce the new ‘Fold AR’ functions that enables users to earn cryptocurrency in a Metaverse environment.
The first of its kind application overlays 3D renders onto real-world environments and by interacting with the AR assets users can easily earn Bitcoin.
The Gang Builds a Metaverse.
Today we’re announcing our partnership with @NianticLabs to build the bitcoin metaverse. Now, every 10 min a new block containing bitcoin, spins and rewards will spawn somewhere around you. Access to beta rolls out this week. https://t.co/tUNq3G4u3m pic.twitter.com/I1rbIYmIq5— will reeves (@wlrvs) November 23, 2021
The application uses AR as an engaging tool to introduce users to Bitcoin by seamlessly transporting them into an AR environment to explore and discover various Bitcoin earning opportunities.
Will Reeves, Fold, CEO, explained:
This is the easiest, most fun way to get your first piece of bitcoin – For us, it’s always been important to make participating in the bitcoin economy easy for anyone, regardless of education or technical expertise
Meghan Hughes, Head of AR Platform Marketing Niantic, added:
We see incredible opportunity in multiple categories including payments. Working with Fold, which has always been at the forefront of making bitcoin accessible, is a perfect collaboration for Niantic
Fold AR entered a limited beta release for selected users last week, since then the rollout has been increasing for more and more users to try out.
Lightship ARSDK
News comes after, Niantic released its ‘Lightship‘ AR software development kit (SDK) to third-party AR development teams, this greatly increased developer and eCommerce opportunities on the platform.
Niantic’s Lightship SDK is the gaming engine behind Pokemon: Go and Fold AR and in addition, developers have used Lightship ARSDK to create other multiplayer immersive experiences for media licences such as Transformers and Pikman.
To support Niantic’s expansion the firm hired former Meta employee Dan Morris as its Director of Developer Relations to oversee communications with developers using Lightship ARSDK. Also, the Niantic acquired Scannicverse to improve Lightship’s performance on Apple hardware.
News of the Fold partnership comes just after, Niantic secured $300 million in funding that now values the company at roughly $9 billion.
The capital enables the firm to improve Lightship ARSDK, as well as expand into Metaverse opportunities and support third-party developers.
Additionally, Lightship developers can expect a variety of exciting updates to the ARSDK such as a visual positioning system, integrated AR characters, improved eCommerce tools, and increased hardware support.
