Dropp GG Raises $8 Million to Continue Developing Its AR-based NFT Platform
Dropp GG funding

Dropp GG Raises $8 Million to Continue Developing Its AR-based NFT Platform

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The social NFT minting platform, Dropp GG, has raised USD $8 million to develop its conceptual framework for mixed reality events that will amalgamate real-world activities with the metaverse.

Animoca Brands, Three Arrows Capital, DeFiance Capital, Alameda Research, Spartan Capital, Genblock Capital, and Anti Fund VC participated in the funding round.

Dropp also introduced a new play-to-earn paradigm that enables users to mint NFTs by applying augmented reality filters while exploring the physical world that combines the NFT drops with a user’s geo-location. The feature makes the platform unique as users can plant NFTs in real-world locations in real-time.

Furthermore, users can view these NFTs in AR and trade them with other users within these locations, combining the physical space with the virtual real estate built by players in ‘Dropp Land.’

“Dropp is building its own open, decentralized metaverse, Dropp Land, which bridges virtual experiences with users’ real-world environment by utilizing geo-location technology. Dropp’s NFTs will be key components for accessing mixed reality events within Dropp Land,” said a representative from the company.

Dropp Land, a metaverse where NFT tokens for virtual land exists with actual physical plots in the real world, will be integrated with Dropp 3D, an AR feature that bridges virtual and physical experiences. Thus, users can interact with their NFTs and virtual land.

“DeFiance Capital is excited to back Dropp, the first NFT minting platform enabled by geo-location and augmented reality. We have seen the success of Pokémon Go by tapping AR and believe that Dropp can onboard millions of users with a gamified experience,” said Arthur Cheong, Founding Partner of DeFiance Capital.

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