Looking Glass Labs set to deploy metaverse experiences for brand activations via corporate clients and creator partners – Proactive Investors USA
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Pharma & Biotech
Pharma & Biotech
06:58 Mon 12 Dec 2022
Looking Glass Labs is at the forefront of the blockchain, NFT, and XR metaverse sectors
Looking Glass Labs Ltd (LGL) announced that its wholly-owned subsidiary House of Kibaa (HoK) has developed the technical platform and preliminary suite of tools to create tailored brand activations inside of its metaverse offering.
The metaverse industry is set to generate up to $5 trillion in value by 2030, and LGL said it is “working swiftly” to provide the software tools to help maximize the industry’s mainstream adoption and commercial growth.
The company is currently working to establish partnerships with a target set of companies and organizations to further cement its ultra-realistic metaverse as a revenue-driving platform.
“Bringing brand activations to the Pocket Dimension metaverse for multinational companies is something that we envisioned a while ago, and are excited to make a reality in the near future for our corporate clients, for Pocket Dimension users, and for the community at large. We are always thinking about our current and future metaverse stakeholders and are continuously striving to give them the best experience possible,” said Dorian Banks, chief executive officer of LGL in a statement.
“Creating vivid and ultra-realistic brand activations in the metaverse is just one of many projects that our team is working on. We are encouraged by the positive feedback to date regarding the Alpha Release of the Pocket Dimension. We look forward to bringing more and more of these initiatives to market,” added Banks.
LGL’s metaverse offering currently has 11 environments that will be fully customizable. The company is focused on fast-tracking its ability to create entire worlds, with architecture and experiences bespoke to any brand or creator activation.
Consumers of all experience levels are expected to be able to easily access these digital metaverse activations based on the company’s incorporation of Unreal Engine 5, Unity 4 and pixel streaming, with plans to provide both mobile and desktop flexibility, LGL said.
Metaverse experiences are being planned to range from new product activations to entire worlds built for corporate clients, it noted.
The types of activations include:
LGL said it is also in the process of developing partnerships with media companies, marketing organizations, automotive brands, fashion companies and others, in order to create the most diverse and realistic metaverse experience for all users and brands.
This is expected to allow brands to create further value by monetizing existing products, services and/or intellectual properties. This initiative is also being pursued in order for LGL to capture incremental revenue through ongoing royalty streams and product sales.
Headquartered in Vancouver, British Columbia, LGL is a leading Web3 innovation platform specializing in consumer engagement applications to leverage immersive metaverse environments, play-to-earn tokenization and blockchain monetization strategies.
Its leading brand, HoK, designs and curates a next-generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously across different NFT blockchain environments. HoK has successfully released digital assets to include GenZeroes, which sold out in just 37 minutes for total proceeds to LGL of C$6.2 million, in addition to a perpetual 5% royalty stream on secondary market sales.
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This record is published on behalf of Looking Glass Labs, which is a paid client of ProactiveInvestors. You understand that ProactiveInvestors receives either monetary or securities compensation for our services,…
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Looking Glass Labs Ltd CEO Dorian Banks joined Proactive's Stephen Gunnion with details of the company's second quarter results. Banks telling Proactive that the quarter contained the company's most significant milestone to date as it became a public issuer listed on the NEO…
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