NFT Company Dropp GG to Launch 'Geo-Based Minting' and 'Mixed Reality Events'

Solana-based augmented reality (AR) and NFT platform Dropp GG is developing location-based NFT minting and “mixed reality events” related to the Metaverse.

The company was founded in early 2021 and has gradually rolled out several initiatives this year, including collaborative NFT issuance, location-based minting events, AR-enabled virtual land, and a metaverse platform that maps to the physical world.

Dropp recently closed an $8 million funding round with backing from top crypto and NFT firms including Animoca Brands, Alameda Research, DeFiance Capital, and Three Arrows Capital. The funds will be used for IP accumulation, partnerships and Metaverse/AR technology development.

One of Dropp's major initiatives will be the launch of location-based NFT minting, which is expected to be tested later this quarter. This term refers to a specific series of NFTs that can only be minted by users located in the designated physical distribution location.

Introducing: DROPP Location-Based NFT

A New Era of NFT Applications‍

— DROPP (@DROPPgg) January 16, 2022

The company calls the NFT a new way for collaborating artists, celebrities, and influencers to release exclusive collectibles for their audiences, while the scarcity of unique location-specific NFTs is designed to add value to collectors.

Dropp has been tight-lipped about other partnerships it has struck so far, but told Cointelegraph that the company will announce collaborations with several “celebrities, models and artists” next month.

The company will also launch a Metaverse platform called "Dropp Land," which will feature virtual reality worlds mapped to the real world. As part of the project, users will be able to purchase virtual land NFTs, use them to earn yield rewards or rent them out to others.

AR support for the Metaverse platform is also in the works, enabling users to experience “mixed reality campaigns” that feature real-world digital representations of virtual land and other NFTs purchased at Dropp Land.

In an interview with Cointelegraph, Dropp founder Edmond Truong said that the company aims to have 500,000 users join Dropp Land in the future and will focus on providing a bridge between the metaverse and the physical world, allowing users to interact in both realms. Interact with your own NFT.

Truong said the NFT market behaves very differently than any other industry because of the industry’s ability to attract people ranging from “cryptocurrency enthusiasts” to gamers, artists, collectors and retail traders.

The founder expects widespread adoption of NFT technology once the industry grows to more mainstream use:

"People will use NFT as digital art, digital tickets, digital documents, digital identities and digital wallets, which will be key in the near future."

He added: “The concept of banknotes started with transaction receipts, so NFTs will soon replace transactions that require proof of authenticity. We think the adoption of NFTs is inevitable.”

The company’s first collaborative NFT collection will launch on the Soulshift NFT platform later this month and will feature 10,000 NFTs depicting famed streetwear designer Hiroshi Fujiwara and artist/skateboarder Mark Gonzales of works of art.

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