Boson Protocol has launched its Portal virtual space, which is the “world’s first virtual lifestyle and commerce playground”, the company announced in a statement on Wednesday.
The new virtual space is based on a “decentralised 3D virtual reality platform” titled ‘Decentraland’ which cost Boson Protocol roughly $704,000 as a ‘real-estate purchase’.
The London-based company previously raised $10 million in investments along with a $25.8 million crowdfunding campaign to develop the project.
Boson Protocol’s Portal virtual space will allow brands, content creators, artists, and others to buy and sell non-fungible tokens to trade for real-world products and services.
Holly Atkinson, Head of Metaverse Technology at Boson Protocol, said:
“Within the metaverse, we can present an image of ourselves that is limited only by the boundaries of our imaginations. Portal shifts the paradigm, and bridges the metaverse and the universe to create a whole new world of possibilities. The time for companies to prepare is now”
Boson Protocol’s virtual space aims to provide event spaces, arenas, retail shops, boutiques, and others for clients along with consultation and expert guidance.
The news comes as the company plans to join a wave of interest in building the Metaverse along with NFTs in recent months. Several tech giants, including Facebook, Nvidia, Nextech, ENGAGE VR, and others have entered the race to develop the massive virtual universe, with Facebook Chief Executive Mark Zuckerberg stating in early August he would shift his firm to become a “metaverse company”.
Vancouver-based Nextech inked an agreement this week to acquire British spatial computing company ARway to construct numerous ‘mini-metaverses’, sparking further competition in the virtual world.
