Looking Glass Labs Ltd announced that its subsidiary House of Kibaa has become a video game/integrated device manufacturer (IDM) company member of the Creative Technology Association of British Columbia (DigiBC) to further its non-fungible tokens (NFT) and metaverse opportunities.
DigiBC is a non-profit industry group for the creative tech sector in British Columbia, where Looking Glass recently established its global corporate headquarters.
Through DigiBC, Looking Glass intends to explore opportunities for NFTs, utility NFTs (uNFTs) and metaverse-related technologies to potentially be added to the scope of interactive digital media in the context of public policy relating to digital art creations. Further, Looking Glass said that it plans to participate in several of DigiBC’s member offerings such as academic research partnerships, B2B networking, and industry events.
READ: Looking Glass Labs sees 1Q revenue of C$6.5M on “strong” NFT sales, royalty income
“Metaverse and NFT technologies really entered the mainstream in 2021 and, given their inherently artistic nature, we believe it is important for those in established areas of digital art (e.g., video game design, 3D animation) to be able to gain familiarity with how the metaverse and NFTs are fitting into various artistic disciplines, both now and in the future,” said Dorian Banks, CEO of Looking Glass in a statement.
With member organizations in the video gaming, visual effects, augmented reality (AR), and virtual reality (VR) sectors including major global conglomerates such as Electronic Arts, Sony (NYSE:SNE), Pictures Imageworks, and The Coalition (Microsoft), DigiBC facilitates growth within the dynamic ecosystem of firms in the creative technology industry in British Columbia, which generates C$2.3 billion in annual sales province-wide.
Banks added: “I believe that LGL’s relationship with DigiBC can be a growth catalyst for us as we look to drive awareness of our offerings, build a team for our new global headquarters in Vancouver, and prepare for several upcoming launches in the near future, such as the HoK (House of Kibaa) metaverse.”
DigiBC has successfully advocated for tax credits and fiscal policy changes in British Columbia, to the benefit of stakeholders in the creative technology space, the company said. The Interactive Digital Media Tax Credit, a digital media tax credit introduced through advocacy by DigiBC, was recently revised to include VR and AR works.
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