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Editing by Nathaniel Cajuday
- Coins.ph has launched its VR Avatar Studio, to demonstrate how NFTs can be leveraged by brands and users.
- The VR Avatar Studio is part of the exchange’s commitment to pushing further into the metaverse with plans to create content and VR avatar influencers.
- Coins.ph further claimed that its studio is also not only for Coins.ph’s own use, but is also open for brands, influencers, and creators to create content with.
Cryptocurrency exchange and crypto wallet Coins.ph has unveiled its own virtual reality (VR) Avatar Studio, the first known VR avatar studio in the Philippines, to demonstrate how NFTs can be leveraged by brands and users, as well as to showcase one of the locally licensed exchange’s activities to bridge its users to the “metaverse,” a shared virtual space said to be the next iteration of the internet.
Launched on January 13, 2023, in a “coinmunity event” attended by BitPinas, Coins.ph has dedicated a space in its Ortigas office and transformed it into a VR Studio.
During the launch event, Coins.ph Regional Brand Manager Jorden Tan and Partnership Marketing Specialist Geneva Valmeo demonstrated how the VR equipment works. First, they attached tracking devices to a visitor, which track the movement and position of that visitor in real-time. Then, the computer that recorded the visitor’s movement and position uses the data to update the virtual environment and the person’s avatar in real-time, thus, syncing the avatar’s movement and position with the person’s movement.
The avatar used in the demonstration was a Bored Ape Yacht Club NFT owned by the Coins.ph CEO Wei Zhou. Additionally, the team used a smartphone application to track the person’s facial expressions, allowing the avatar to mirror the person’s movements in the virtual world.
Why Launch a Coins VR Avatar Studio?
According to Coins.ph, its VR Avatar Studio is part of its commitment to push the brand further into the metaverse. The Coins team will be creating content and VR avatar influencers “to bind crypto, gaming, and more communities together.”
The exchange also claimed that the studio is not only for the firm’s own use, but also open for brands, influencers, and creators to create content with:
“Brands and users will be able to transform their NFTs into VR Avatars through Coins VR Studio. The NFT VR Avatars can act as an extension of their online and metaverse identity.”
Meanwhile, Eprom Galang, the General Manager of Coins.ph, said the company looks forward to help pioneer metaverse adoption in the Philippines:
“We have the opportunity to become a global leader in this new digital environment where physical constraints no longer hold us back. With a young and tech-savvy population, the Philippines is in a prime position to make the most of this new technology, making our lives easier, more efficient, and productive.”
Foray into the Metaverse
The Wei Zhou-led Coins.ph had seen the local brand, the first licensed exchange in the country, increasingly becoming more crypto and web3 native.
Notable is the recent launch of Coins Arcade, which allows users to play web3 games inside Coins.ph.
“As long as you have the Coins.ph app, you can start playing, you don’t have to go through these hoops. Then if you like the game, then you can redeem your money out and buy NFTs of the game,” Zhou mentioned at an event last June, six months before the launch of Coins Arcade.
Coins.ph currently has 23 listed different cryptocurrencies in its platform.
This article is published on BitPinas: Coins.ph Brings NFTs to Life with Launch of VR Avatar Studio
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.