Place/Date: Vancouver, Canada - March 31st, 2022 at 2:02 pm UTC · 4 min read
Contact: Media Relations, Source: House Of Kibaa
House of Kibaa (“HoK”), a leading digital studio specializing in creating exclusive non-fungible token (“NFT”) assets for Xtended Reality (AR/VR/MR), is pleased to announce the upcoming Pocket Dimension land sale on April 16-17, 2022.
A part of HoK’s fully immersive Project Origin metaverse, the overall Pocket Dimension is being built to be a private space for landowners to host events, rent out space, mine valuable resources, integrate custom structures, and add digital assets, among other uses.
Each Pocket Dimension parcel will provide its owner with additional unique benefits such as being blockchain agnostic with wide NFT compatibility (Polygon, Ethereum, Flow, Solana, and NEAR), an extensive avatar system, a unique Non-Playable Characters (“NPC”) host system, a comprehensive peer-to-peer marketplace, a substantial social currency ecosystem and more.
In advancing the ‘make your world, live your dream’ concept, landowners in the Pocket Dimension will have access to all of the outstanding utilities that will be included with Project Origin. For example, owners will be able to mine their Pocket Dimension parcels for virtual materials or HoK coins, while hosting events or renting out space for private functions or concerts for communities like Hapebeast, Gutter Cat Gang, etc. Further, users can access public data via Web2 to Web3 integration and with access to NPC hosting.
Jason Nguyen, CEO of House of Kibaa, said:
“We are thrilled to provide this unique virtual world experience to our users. Owning a Pocket Dimension will make you a master of your own metaverse. Each Pocket Dimension is an exclusive space in Project Origin.”
Mr. Nguyen added:
“Our blend of creative wizardry and expertise will enable you to realize the boundless potential of the coming NFT revolution. Whether you’re a content creator, an NFT collector, or a tech evangelist, we think you’ll be impressed by what we are about to deliver.”
The public sale is scheduled to begin on April 17, with a private sale occurring first on April 16. The private sale will vend up to 5,000 land parcels at the special price of 1 ETH per land parcel via exclusive spot allocations to communities and partners. Communities and partners will be able to register for the private sale soon, the details of which will be communicated by HoK in due course.
Regarding the public sale, up to 5,000 land parcels, as well as any unclaimed parcels from the private sale, will be sold via a Dutch auction. Prices will start at 2 ETH per parcel and then will decrease by 0.2 ETH every 45 minutes until the minimum price of 1 ETH is reached.
This announcement follows HoK’s collaborative arrangement with Polygon Studios, the NFT, gaming, and metaverse arm of Polygon (MATIC). Under the collaboration, HoK will benefit from Polygon Studios’ technical and business support for its business pillars, including HoK Studios, the GenZeroes NFT collection and franchise, HoK’s Project Origin metaverse, and the whole HoK ecosystem in development.
Last year, HoK partnered with Blockchain Foundry Inc., which develops and commercializes blockchain-based business solutions to support creating and delivering NFT art drops.
The Pocket Dimension land sale event is launching amidst the skyrocketing metaverse property market. Property sales on the four major metaverse platforms reached $501 million in 2021, according to MetaMetrics Solutions. According to the metaverse data provider, sales in January 2022 alone topped $85 million, which places the metaverse property market on pace to reach nearly $1 billion in 2022.
HoK is the flagship studio of Looking Glass Labs (NEO: NFTX), a Vancouver, British Columbia-headquartered digital platform specializing in non-fungible token (NFT) architecture, immersive extended reality (XR) metaverse design, and virtual asset royalty streams. HoK enables users to express their own individual styles within the blockchain via an array of utilities throughout the metaverse.