THELOGICALINDIAN - Highstreet will charm the arcade acquaintance from blemish with VR and NFTs allegorical users to boutique calm in the Metaverse
The VR Metaverse is inching closer. With some calling for “NFT Summer,” Highstreet, a metaverse-based DeFi exchange for NFTs and added agenda items, has aloft $5 million.
Highstreet: NFT Marketplace in Virtual Reality
Highstreet aims to accompany the digital marketplace to basic reality. The Canadian startup has aloft $5 actor from crypto and acceptable VCs such as Panony, Mechanism Capital, NGC Ventures, and Jump Trading. The annular additionally included influencers and association associates such as Miss Bitcoin, Encrypt Club, and Mr. Block.
Andrew Kang, Managing Partner at Mechanism Capital, said of the raise:
“Retail consumers accept apparent accretion absorption and acquaintance with digitally built-in goods, but best brands haven’t been able to tap into this interest. Highstreet offers the abeyant for acceptable retail brands to accomplish absorption and adherence amid their chump abject in a absolutely new appearance through NFTs.”
This allotment will acquiesce Highstreet to aggrandize its engineering department, absorption on developers with Unity experience. The ambition is to actualize a seamless metaverse acquaintance area users can boutique calm and acquaintance what they alarm “the approaching of retail.”
The apple of Highstreet will be composed of altered explorable islands powered by brands or partners, complete with residential zones and arcade areas area users can buy NFTs. These NFTs ability be agenda artwork, but they can additionally entail barter to real-world items. To advance their latest album, Kings of Leon offered NFTs that basic barter to the absolute vinyl pressings. Discussing the approaching of basic absoluteness shopping, Highstreet CEO Travis Wu said:
“Highstreet is aflame to accept such a assorted accumulation of investors accompany us on our adventure to body the approaching of retail. Many believed e-commerce was the alpha of the end for absurd cast activations and absorbing storefronts. However, the action of arcade lives on in the metaverse. In a basic world, cast announcement is limitless, apprenticed not by architecture costs nor physics. The ultimate retail acquaintance will admission soon, appropriate actuality on Highstreet.”
Disclaimer: The columnist captivated ETH and several added cryptocurrencies at the time of writing.
