SPATIAL, A VIRTUAL REALITY APP TRANSITIONS INTO AN NFT PLATFORM
On the 14th of December 2021, Spatial announced its decision to shift focus from virtual reality to digital arts. In the announcement, they specified that they would launch anew as a gallery that showcases digitized artworks in the form of Non-fungible tokens.
Spatial – being of the earliest pioneers of the virtual reality workroom experience platforms – has shown interest in decentralized experience focused more on work and less on virtual reality. The announcement to launch afresh came with a 25 million dollars funding round to aid their transition.
Originally, the spatial app was known for its enhanced virtual work experience tools. Workers could communicate, collaborate, meet and execute tasks in virtual conditions with the tools on the original spatial app. However, according to the company’s announcement, more people have shown interest in social experiences compared to virtual work experiences.
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Due to the user preference shift, spatial has been moved to adjust its value proposition, priorities, and even partners list. Since last year, they have thinned out their list of partners and app features to promote a social-friendly user experience.
The company said they want to focus on convenience since it is the most important element of a good workplace. They plan to work with artists that want to display their non-fungible tokens to users. In their latest adjustment, they have connected the metamusk cryptocurrency wallets and have added a feature that creates a catalog of artworks owned by individual users.
Finally, the app would allow artists to sell their tokens. It will also allow new artists to mint their art and sell it later as a non-fungible token on the same platform. Finally, artists can import 3D spaces and mint them later through Spatial application. At the moment, the backend block remains Ethereum. However, they claim the app could support other low carbon blockchain platforms with time.