Jadu Releases NFT Avatars As He Prepares For Metaverse AR

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Jadu announces that he will be releasing thousands of avatars built on non-fungible tokens (NFTs) as he prepares for the augmented reality metaverse.

By the end of August, the Los Angeles-based company plans to sell 11,111 avatars, or AVAs, that can be uniquely owned through blockchain authentication, Jadu CEO Asad J. Malik said in an interview with GamesBeat.

To advertise

The NFT sale is part of a larger ambition to create a real-world AR gaming experience and ecosystem with a continuous story that will keep players coming back to a place where animation and physical reality are combined in a kind of mixed reality storytelling.

Jadu has raised a lot of money thus far – $45 million so far, including a $36 million round led by Bain Capital Crypto – and he has also sold a variety of AR items in the past, such as virtual hoverboards and jetbacks. . New avatars can use these items to maneuver through the game world.

The 3D playable avatars will be called Jadu AVA and will be the focus of the gameplay. In the story, the Avatars are robots that have crashed to Earth through a mysterious portal from another world. Each AGM belongs to one of the 5 types Blink, Rukus, Disc, Yve & Aura.

When minting NFTs, partners take care of collections. These partners include FLUF, Meebits, VOIDs, Chibi Apes, CyberKongz and CryptoWalkers. These partners have helped the company gain momentum for its AR assets in the past.

In the past, the company partnered with Elton John to auction a unique Rocket Man Jadu Hoverboard NFT for 75 ETH (Ethereum’s cryptocurrency), the largest NFT hoverboard sale to date. Aids Foundation (EJAF). He also worked with seven-time Formula 1 World Champion Lewis Hamilton; filthy; Snoop Dogg; visual artist, Mimi Onuoha and NFT curator, Trippy on her NFT hoverboards.

community orientation

Jadu will sell 11,111 NFT avatars at the end of August.

Malik said the company will use the proceeds from the NFT sale later this month to create the AVA Community Treasury, which will use the money on behalf of the community.

Avatars are designed to work with augmented reality because they are designed for augmented reality. The game will have several chapters in a story. Avatars can perform parkour maneuvers. And so the company will gradually launch its ecosystem.

“The community element is really key,” Malik said. “It’s like treating our members and our players as citizens.”

About $5 million could come from the sale of NFT avatars, and the company will use them to create a community treasury, where the community can discuss how the funds can be spent. Instead of focusing on a game with millions of people, the company is now focusing on attracting 10,000 or 20,000 hardcore players.

Origin

Jadu makes a real-world game with AR.

Malik immigrated to the United States at the age of 18 to study, and he started an AR project at the Tribeca Film Festival and founded Jadu about seven years ago. Malik’s mission is to reverse the trend of digital experiences dismantling our connection to the physical world.

The company has a full team of people in Pakistan (they are paid in US dollars and are doing well despite the instability there) working on blockchain technology. Jadu has also hired people laid off from other tech companies during the current recession. The company employs about 50 people.

“We attract people who want to make good AR gameplay,” Malik says. “The basic type of AR that we do is gameplay-driven. AR has always been a first-person medium where you play with things. What we’re doing is making it a third-person game. So instead of being the player you have an avatar and you see that avatar in your room and you control it with a joystick on the screen.

He added: “And the avatar goes and does all interactions on your behalf. The avatar can control a hoverboard and control a jetpack and do a wall flip. Many forms of AR that we build are focused on the avatar going through various interactions. And our first step is to launch a bunch of gameplay ourselves, so we’re currently building the first season of our world.

In the beginning Malik worked on AR experiences for film festivals and some of his work is taught in AR and hologram courses at the Massachusetts Institute of Technology and the University of California, Berkeley. He released a project for Magic Leap in 2019 and built holograms for musicians.

“We were playing with AR storytelling,” Malik said.

And now it is building an AR gaming platform. Over the past 2.5 years, the team has founded Jadu with the goal of bringing a richer form of AR technology and narrative storytelling to mobile gaming.

“Last year we moved to Web 3,” he said. “We released our own collection of jetpacks in AR and then we released these hoverboards that worked in AR. Nothing ever made sense. When we started seeing NFTshappen, we thought it was a new way to capture value.

When NFTs took off last year, the company started focusing on AR games in the Web3 space. Players can play in AR with their own 3D avatars. Jadu raised about $5 million from NFT sales and he also saw about $30 million in secondary transactions for his jump bikes and hoverboards.

“We’ve been working on that for the past six months,” Malik said. “We have a lot of resources behind this.”

Prepared for difficult times

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Jadu has 50 employees, including a team in Pakistan.

I asked if the company had encountered any resistance to its NFT sales. Malik said he agrees with criticism of NFT firms that have misbehaved, by launching sloppy articles or engaging in fraudulent behavior.
“I fully agree with the gaming community’s criticism of NFTs,” he said. “We are not a traditional gaming company. We are essentially an AR company and our mission is always to provide people with new forms of AR in a very experimental and immersive way. We want to create forms of AR that did not exist before. »

As for the crypto winter, Malik said the company has a track for the next three years or so. This reassures the company that it has time to properly develop its products and wait for gamers to embrace the AR multiplayer market.

For the most part, the company’s target audience consists of people who are already part of the crypto and NFT ecosystem. They are familiar with crypto wallets and are early adopters of the technology.
“We’re going to reach a turning point where it’s going to feel really good, it feels ready for a wider mainstream audience. And then we’ll move on with them,” Malik said.

Over the next 30 days, the company will roll out tools that players can use to submit entries for others to vote for, and more. And once the NFT avatars are released, the company will launch new chapters of its stories for gamers.

Malik said he hopes the movement to create interoperable NFTs and an open metaverse will progress so that the company’s own avatars can be usable across more platforms and apps. But that could be even further in the future for now.

“In theory, that’s what we’re aiming for,” he said. “At the same time, I want to say that it’s not a big priority. It is something we are ideologically aligned with. But if another virtual world has 600 users, we’re not going to spend our time creating resources for that world now.

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