This week, non-refundable token (NFT) and avatar firm OFF announced a successful funding round worth roughly $3.5 million USD. Hashed and Collab+Currency led the funding round with additional support from by BITKRAFT Ventures, Electric Capital, Coinbase Ventures, and SamsungNEXT.
The acquired capital will enable OFF to expand its ‘MYTY Camera’ solution – a first-of-its-kind NFT-based avatar system – as well as helping the firm in developing exciting new products.
Derek Edws, Partner at Collab+Currency explained:
The Web3 industry is still constrained in the ways it can interact and engage with these NFTs on a social level. PFPs, or profile picture projects, are emergent, global, social clubs sitting at the intersection of on-chain identity, community, and culture
OFF is the parent company behind the MYTY Camera, a free to use solution that transforms NFT interactions by converting selected pieces into virtual avatars.
The MYTY Camera solution uses computer or smartphone webcams to incorporate fully animated NFT-based avatars into remote video conferencing environments.
OFF’s solution allows its users to transfer their purchased NFTs onto the platform, to seamlessly transform a 2D asset into a living, breathing, and animated avatar.
Additionally, the powerful MYTY Camera uses full body and facial tracking to mimic a user’s expressions in real-time. Therefore, improving immersion during remote peer-to-peer meeting scenarios.
Jinwoo Park, Team Lead, OFF, added:
We think avatars will be a key component for more people to enter the metaverse to represent their second persona and will enable another NFT utility
Currently, the MYTY Camera can only convert Ethereum blockchain-based CryptoPunk NFTs into fully animated avatars and the solution is currently compatible with video conferencing applications such as Microsoft Teams, Zoom, Twitch, and more.
The Ghosts Project
In recent news, OFF announced a collaboration with popular NFT artist Mr. Misang to conceive ‘The Ghosts Project,’ a follow-up to the artist’s previous digital work ‘Modern Life is Rubbish’ (MLIR); a mixed-media art piece.
MLIR is part of Mr. Misang’s ongoing VR Metaverse world – that started as an animation – and The Ghosts Project translates the artists style into fully animated ghosts that float behind a user during a video call.
Boo👻
Thanks for 3k Discord Members!Don’t be late, We’re Here.👇🏻https://t.co/Oe0V5xcKOw#GhostProject
— MYTY (@myty_official) November 5, 2021
This appears as a background for a user in a Zoom, Teams, or other video conferencing applications. In addition, by using MYTY’s powerful tracking technology the ghosts interact with a user’s face, head, and mouth.
