Looking Glass Labs Ltd. has announced that all 809 holders of the Genesis Membership from its flagship studio House of Kibaa (HoK) have received a selection of three non-fungible tokens (NFTs) galleries through an airdrop-based method of distribution.
Each three-dimensional (3D) gallery allows its holder to display NFTs from linked wallets including NFTs by 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 Membership holders, it has been a pleasure for us to airdrop unique new digital assets on a monthly basis to date, as a way of providing more value to our supporters and to enrich their experience with HoK, especially when our metaverse is being planned to launch in the near future,” said Looking Glass Labs CEO Dorian Banks in a statement.
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“The NFT galleries are our most sophisticated airdrop to date, providing HoK Genesis Membership holders the ability to showcase their NFTs in the 3D interactive environment of their choosing. Our next airdrop is expected to be even more exciting, and we very much look forward to continuing our contributions to the dynamic world of NFTs and metaverse-based technologies as a leading digital platform," Banks added.
Looking Glass said each type of gallery has unique properties:
- The Hive: a forest-based hanging gallery incorporating elements of nature
- The Lava Temple: a floating gallery above an active volcanic region, providing a 360-degree immersive atmosphere
- The Neon Nexus: a hybrid warehouse gallery concept
In May of 2021, HoK debuted its Genesis Membership that enables holders to purchase HoK's NFTs and receive new digital assets at no cost 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 revenues over a four-week period.
As of December 9, 2021, the company said that HoK Genesis Memberships were being re-sold on the secondary market for an average value of 1.95 Ethereum each (or approximately C$10,200), which equates to a price appreciation of over 1,900%.
Looking Glass also collects a royalty of 10% in perpetuity on all secondary market sales of HoK Genesis Memberships.
Additionally, the company announced that HoK plans to launch its proprietary, next-generation metaverse in the near future, which is code-named Project Origin and has the tagline "The Art of Future Living."
One of Project Origin's features will be GALLERY; a function allowing NFT collections to be showcased in an interactive 3D environment akin to a traditional art gallery.
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