WALL STREET RESEARCHER
LOOKING GLASS LABS
Add This NFT / Metaverse Company To Your Watchlist!
NFT. You’ve heard the term before. Three unassuming consonants that, when put together, have elicited a range of responses — from interest to apathy to severe misgivings. You’re probably familiar with the movement’s poster child: the Bored Ape. And if not, you can turn to public figures like Paris Hilton, Shaquille O’Neal, Eminem, or Jimmy Fallon who have all adopted these pieces and shown them off in a manner some have come to regard as open boosterism. But judging an NFT by the Bored Ape is like judging an iceberg by its tip… for a better look at what it means to own an NFT, check out Looking Glass Labs; an organisation that regularly pushes the boundaries of NFT architecture. You see, Looking Glass knows a simple truth — that no matter how you may feel about them, NFTs are not a trend. They don’t just have a place in the future, they are the future.
It’s a lot to take in, we know. Maybe we’d better back up a little. First of all, there’s one question that desperately needs answering — what are NFTs exactly? Easy: Non-Fungible Tokens. Put simply, they’re digital collectibles. And, like the trading baseball cards of yesteryear, they are valuable. Like baseball cards, you can resell an NFT — but what’s really beautiful about these tokens is that, through blockchain technology, all transactions are saved to the public ledger. So, where the manufacturer of Joe-Schmoe-baseball-card wouldn’t see a penny, the NFT manufacturer stands to benefit from a secondary market; a new royalty stream. And by the way, when we harkened the Bored Ape to the tip of the iceberg, we meant it. NFTs can come in all shapes and sizes. Memorable sports moments in video clip form? Check. Downloadable content for video games? Double check. Tweets and other such social media entries? Yep, even those. Baseball cards too, actually. Also, consider tickets for real life events. This kind of token could be used as a digital stub to commemorate a special game or concert, or could serve as a way for venues to limit the transfer of their tickets. When you realise that anything that can be collected digitally is an NFT in the making, you’ll begin to see the appeal and versatility of these Non-Fungible Tokens. Again, it’s not a scam or a fad. It’s the next step.
So, what makes Looking Glass so special? To start with, they’re a pure-play NFT public company — one of the first, if not the first. What does this mean and why does this matter? Well, Looking Glass didn’t simply pivot in the direction of NFTs after realising the which way the wind was blowing, nor did they include NFTs as an add-on to their current service. Their sole interest has always been NFT architecture. We at Marketsmart think there are two grand implications here. The first is that — when it comes to NFTs — there is no one with more experience than Looking Glass Labs who are regularly producing tokens for both themselves and for public figures such as actors, musicians, and brands. On that score, Looking Glass was recently retained to produce a metaverse-ready 3D asset collection for Gutter Cat Gang, basing it on the Bored Ape Yacht Club pieces! But the second implication is that Looking Glass is ideally situated toward guiding brands into the future, i.e., the metaverse. This marks the second time that we’ve mentioned the metaverse. If you’re unfamiliar with what a ‘metaverse’ actually is, we’d ask you to picture a network of 3D virtual worlds focused entirely on social interaction. As you can imagine, such a venue would be the perfect platform for brands to attract customers through sharing digital ads, marketing to influencers, and fostering brand loyalty among consumers. Amazing, right? But here’s the catch: in this network, the communities in place are savvy to all of that. It’s because they’re sensitive to being pitched to that these communities will likely turn on any corporation marching gung-ho onto their platform with a marketing agenda. And this isn’t an ‘if’ question so much as a ‘when’ situation. You might’ve heard of Facebook CEO Mark Zuckerburg pitching Meta, or even Walmart indicating a move into the metaverse space. Across the world, corporations are turning their eyes to the metaverse… and mistakes will inevitably be made. Having a pure-play partner like Looking Glass Labs to ease one’s passage into the NFT and metaverse community is a massive advantage over the distinguished competition — yet another reason why Looking Glass has seen so much success in such a small amount of time.
But the metaverse is exactly where things get really exciting for Looking Glass. Unlike other versions of the metaverse, Looking Glass’ platform will be completely hyper-realistic, rather than the pixelated, low-resolution norm. Set to launch this year, their metaverse will actually run on the Unreal Engine 5! If you’re curious about who is helming this enterprise, turn to Looking Glass Labs’ leading brand: House of Kibaa (HoK). This 100% owned subsidiary of Looking Glass is the Web3 studio responsible for designing Looking Glass’ hyper-realistic virtual world and the 3D assets that will populate it, allowing for functional art and collectibles to exist simultaneously across various NFT blockchain environments. Still with us? To be clear, these are assets that are meant to be engaged with inside the metaverse. Through games and activities, individuals will be able to access advanced features as well as collect and engage with both the NFTs and their communities in new, innovative ways. To achieve this a user needs only to connect their wallet to the metaverse, thereby making an already-immersive platform that much more consuming. Interested in earning coins and rewards? HoK’s metaverse enables you to do just that! Want to swap NFTs with other members of your community? Done! Want to play mini-games that’ve been tailored to suit the NFTs you own? Easy! What about having the agency to host live events of your choosing for your community? It’s all there. So stay tuned for “Project Origin” — the codename given to House of Kibaa’s upcoming metaverse — which will have an early-stage walkthrough in the third quarter of this year. Also watch out for a major sale of land in connection with the launch!
Remember those 3D assets we were just talking about? Well, we’d like to turn your attention to the generative series of 10,000 unique 3D avatars that House of Kibaa has seen fit to name GenZeroes. Just this past September, ten thousand GenZero NFTs were sold in under forty minutes. The feverish anticipation surrounding this drop resulted in over six million dollars worth of revenue being delivered to the blockchain wallets of 3,000 new owners! And just a month later, HoK received a lifetime royalty stream of 5% on the nearly 1 million dollars in GenZero NFT resales! Following this incredible launch, Looking Glass hosted a celebratory private event at NFT.NYC in New York City and has wasted no time in capitalising on the GenZero brand. Enter: Genzero Productions. This media production subsidiary was launched to specialise in the production of original media involving NFTs… and it’s from this enterprise that you can expect the world’s first live action NFT series. Aleks Paunovic — a star who featured in the popular Disney Plus television show “Hawkeye’ — has had a major hand in developing the GenZero series alongside talent like Jeremy Smith and Matt Venables. The initial release is slated for the last week of March, so remember that this is coming up fast, folks. And in addition to the series’ ten episodes, you can also expect bonus content like comics and collectibles to be offered. But here’s the rub: the content and features accrued will depend entirely on the level of ownership. Basically, owners of the live action GenZeroes NFTs will have access to behind-the-scenes footage, early releases, and will benefit from the residuals of the deals with other platforms.
To cap it all off — there can be no doubt that the progress Looking Glass has made in this past year reflects their success. Remember those 10,000 NFTs that sold for net proceeds of six million dollars? If you do, you probably not surprised that Looking Glass has received incredible fiscal results from last year and from the first quarter of this one — including 18.12 in the cryptocurrency Ethereum. This was earned from the Company’s perpetual royalties of 10% and 5% from the resale of their HoK Genesis and GenZeroes NFTs, respectively. And if all that isn’t enough, Looking Glass has made big moves to reaffirm their standing on the world stage. They are listed on the Rarity.tools ranking database for all 10,000 of their House of Kibaa GenX NFTs and have become a member of the DigiBC industry organisation. Other members include Electronic Arts, Sony Pictures Imageworks, Animal Logic, Industrial Light & Magic and The Coalition (Microsoft) — so rest assured, they’re in good company! Expect Looking Glass to continue to maintain a presence at major industry events such as NFT LA, NFT.NYC, and ComicCon San Diego. Moreover, Looking Glass has made its first purchase of assets overseas! They very recently entered into a letter of intent to acquire the Development Division of LACA Solutions Corporation. LACA — an incredibly versatile venture founded in 2017 in Ho Chi Minh City — works with clients in a variety of industries and will help House of Kibaa with their Unreal Engine gaming, Web3 development, as well as front-end and back-end web programming. But even as they make their place on the world stage, Looking Glass’ heart and headquarters remain in Vancouver. It’s here where they’ve been hiring personnel in technical, creative, administrative and executive roles. Now, Looking Glass Labs has already commenced trading on the NEO Exchange, home to over 170 public listings. The symbol is NFTX — so be sure to check them out as soon as possible! Again, NFTs are not a fad. They’re here to stay. So we advise you to look to Looking Glass, the company with a foothold on the future!