Looking Glass Labs Ltdn Says Its House of Kibaa Studio Drops Non-fungible 3D Token (NFT) Galleries to Genesis Membership Holders

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Galleries allow holders to display NFTs from linked portfolios as well as third-party studios and other creators in a hyper-realistic and interactive setting

Looking Glass Labs Ltd. announced that all 809 Genesis membership holders from its flagship studio House of Kibaa (HoK) have received a selection of three non-fungible token (NFT) galleries via an aerial drop-based distribution method.

Each three-dimensional (3D) gallery allows its owner to view NFTs from linked portfolios, including NFTs from HoK, as well as third-party studios and other creators, in a hyper-realistic and interactive setting.

“With incredible engagement from the HoK community, including Genesis subscription holders, it has been a pleasure for us to launch unique new digital assets on a monthly basis to date, in order to deliver more value to our customers. supporters and enrich their experience with HoK, especially when our metaverse is expected to launch in the near future, ”Looking Glass Labs CEO Dorian Banks said in a statement.

READ: Looking Glass Lab Establishes New Global Headquarters in Vancouver, BC

“NFT Galleries are our most sophisticated airdrops to date, offering HoK Genesis subscription holders the ability to showcase their NFTs in the interactive 3D environment of their choice. Our next airdrop should be even more exciting, and we look forward to continuing our contributions to the dynamic world of NFT and metaverse-based technologies as a leading digital platform, ”added Banks.

Looking Glass said that each type of gallery has unique properties:

  • The Hive: a gallery suspended in the forest incorporating elements of nature
  • The Lava Temple: a floating gallery above an active volcanic region, offering a 360-degree immersive atmosphere
  • The Neon Nexus: a concept of a hybrid warehouse gallery

In May 2021, HoK launched its Genesis Membership which allows holders to purchase HoK NFTs and receive new digital assets for free through periodic airdrops, which have taken place on a monthly basis to date. Initially, Genesis memberships were sold by HoK for US $ 500 each, which generated approximately US $ 490,000 in revenue over a four week period.

As of December 9, 2021, the company said that HoK Genesis subscriptions were being resold in the secondary market for an average value of 1.95 Ethereum each (or around CA $ 10,200), which equates to a price appreciation of over 1900%.

Looking Glass also collects a 10% royalty in perpetuity on all aftermarket sales of HoK Genesis memberships.

Additionally, the company has announced that HoK plans to launch its next-generation proprietary metaverse in the near future, which is codenamed Project Origin and carries the tagline “The Art of Future Living”.

One of the features of Project Origin will be the GALLERY; a function allowing to present the NFT collections in an interactive 3D environment close to a traditional art gallery.

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