Hololoot is a new blockchain-based ecosystem seeking to incorporate all the latest technological breakthroughs. The project prides itself in being the first Augmented Reality (AR) NFT generator with a proprietary marketplace and Metaverse.
New projects surface on the blockchain every day. Many deal with non-fungible tokens (NFTs) and some focus solely on expanding the Metaverse. Meanwhile, few venture into the narrow niche of augmented reality. Hololoot takes on the ambitious task of integrating all these elements into an all-inclusive platform.
Currently, an AR NFT solution like Hololoot is lacking in the market. This review looks closely at its chances of filling this void and leading the way. Read on to discover more about Hololoot’s many features and extensive roadmap!
What is Hololoot?
Hololoot aims to expand across several crypto sectors and technologies as a multi-feature platform. It uses a unique AR tech stack to provide users with alternative access to Metaverse assets, such as NFTs.
Anyone can use Hololoot to create and mint AR NFTs on the platform. The project will employ a cloud-based service to allow users to build these AR NFT assets from 3D models. Furthermore, they will be able to buy, sell, and even rent their holdings in the Hololoot marketplace quickly and hassle-free.
The platform also plans to provide AR NFT holders with gaming applications. This way, they can use their assets in interactive ways instead of just stacking them into a random collection. Also, some of these games could function on the play-to-earn (P2E) model, which may allow players to gain substantial rewards.
Hololoot will enable its users to explore its proprietary AR Metaverse, which will feature games, art, and even ads. The platform will allow them to participate in AR NFT launches and airdrops to help build a larger community.
Users will have to pay a Metaverse as a Service (MaaS) fee to access the expanding virtual world. Hololoot will use this income and the P2E gaming system to boost its revenue. Additional income streams include NFT sales and a marketplace transaction fee of 5%.
The Hololoot team is working on a comprehensive suite of tools and applications to power its ambitious project. Here is a brief presentation of these features!
The AR NFT Viewer
The entire Hololoot ecosystem develops around the AR NFT Viewer, a tool projecting AR objects into the real world. The team designed it to be quick, accessible, and limited storage requirements. This way, users can run it on their mobile devices to see and interact with augmented reality elements.
The AR NFT Viewer uses some of the latest advances in AR technology, such as ARkit, AR Foundation, and glTF files. Furthermore, it employs depth cameras and LIDAR for precise and extensive scans of the surrounding real-world environment.
Lastly, this tool uses the brilliant Light Estimation technology to determine the temperature and brightness within a real-world room. Also, it enables dynamic lighting on the models to reflect the light in the surroundings. This way, users can see a vividly stunning reproduction of the environment around them.
The AR NFT Generator
Hololoot users can design and mint AR NFTs with the platform’s AR NFT Generator. This tool combines a machine learning mechanism with Azure Cloud and other technologies. Furthermore, it enables creators and collectors to develop rare and unique NFTs and keep them safely in cloud storage.
Users will be able to create four types of AR NFTs:
- Classical AR NFTs: Users can upload images to the AR NFT Generator, edit, and mint them.
- Physical Objects Connection AR NFTs: Creators can use QR codes to scan and duplicate real-world objects within the virtual world.
- Gaming AR NFTs: Users can create AR NFTs compatible with gaming applications.
- Location-Based AR NFTs: People can create AR NFTs of real-world places and link them to experiences in the virtual space.
Hololoot will provide NFT creators with a self-service, P2P marketplace where they can sell or trade their digital collectibles. Furthermore, they can enhance their collections by purchasing AR NFTs from other users. Lastly, the platform will also release NFTs or allow its partners to launch theirs and increase the number of assets.
The AR Metaverse and Hololoot Tokens
Hololoot seeks to launch the world’s first AR Metaverse consisting of NFT art, ads, games, and more. The developers believe that this virtual environment will increase interaction and attract more users. And, people will have plenty of reasons to join it, including the platform’s two tokens, $HOL, and $PIXEL.
The Hololoot ecosystem will use these two inter-connected tokens to create an incentivizing program with significant rewards for users. Here’s how the two tokens will work:
- It is the main token and currency in the Hololoot marketplace.
- The platform will burn 1% of the transaction fees to decrease its supply while boosting its value.
- According to the Hololoot Lightpaper, staking $HOL could generate at least 10% APR.
- Holding $HOL tokens will provide future users with exclusive access to in-app premium services.
- It is the reward token in the Hololoot ecosystem.
- Users have to stake $HOL tokens to obtain $PIXEL.
- It is available in unlimited supply.
- Holders can use it to participate in NFT drops and Initial NFT Offerings (INO) on the platform’s proprietary INO launchpad.
The Hololoot INO Launchpad will feature a multi-level ticketing mechanism providing equal access to INOs for all users. The platform will distribute tickets depending on the amount of $PIXEL tokens each user has.
The Beta Test
In terms of development, Hololoot is currently undergoing its beta testing stage, which is open to the public. The team is using TestFlight, a leading software testing application. They are looking for bugs and rely on the growing Hololoot community to report any issue they encounter.
Those curious about the app’s progress can see the assets that the developers have designed so far. Also, testers can take part in challenges and earn up to 3,000 $PIXEL in rewards. For instance, they can place appropriate models on different surfaces, rotate, or view them from multiple sides. The Hololoot team also opened a Discord channel specifically for the testing group. They can aggregate all the issues and bugs users and testers may find there.
The team started working on Hololoot in 2019 after collecting several public grants to fund the project. For nearly two years, they worked on conceptualizing all the platform’s features we described above.
In December 2021, Hololoot launched its primary token, $HOL, and subsequently listed it on centralized exchanges.
For the first half of 2022, the team plans to ensure Android device support for the app. Also, they aim to develop a Minimum Viable Product (MVP) for location-based AR NFTs. Next, the platform should make its first AR airdrop and launch the internal INO launchpad.
At the end of March, Hololoot will launch its marketplace, which should include multi-chain functionality, ERC-721 and ERC-1155 support. Also, it will feature an AR NFT store, albeit it will not be P2P just yet.
One of Hololoot’s main goals for Q2 is releasing its AR Metaverse. This feature should build towards a more complete version of the Hololoot ecosystem and come with major upgrades, such as:
- P2P marketplace transactions
- Auctions and advanced marketplace features
- INO launchpad
- Integration with Hololoot’s AR metaverse
- Metaverse as a Service
- AR NFT generation
For the remainder of 2022, Hololoot plans to develop the app and incorporate a multi-language system. Lastly, it should support cross-chain operations, add location-based AR NFTs, and consistently develop the marketplace.
Hololoot seeks to combine augmented reality with NFTs and the Metaverse to create an all-inclusive blockchain project. It is an ambitious feat that should attract plenty of attention and community support, should it succeed.
We will follow Hololoot’s development closely and see how fast it advances through its extensive roadmap. Meanwhile, you can find out more about the project at these links: Website | Twitter | Telegram | Discord.
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