Augmented reality (AR) and NFT platform Dropp GG – developed on the Solana blockchain – is reportedly building geographical-based NFT minting and “mixed reality events”, related to the metaverse. 

Specifically, the company was reportedly established last year and has been putting in extensive efforts to introduce numerous projects throughout the past year, including collaborating NFT drops, geo-minting events, virtual land plots with AR support, and a metaverse platform that maps to the real world.

Dropp reportedly secured $8 million of capital injection via recent fundraising, which saw the participation of high-profile crypto and NFT entities, nominally Animoca Brands, Alameda Research DeFiance Capital, and Three Arrows Capital.

The newly secured capital injection will reportedly be channeled towards supporting IP accumulation, partnerships, and metaverse/AR tech development.

One of Dropp’s most significant projects is reportedly the introduction of geographical-based NFT minting (geo-minting), commenced for beta testing in 2022. 

The term is reportedly used to talk about NFT collections which are only available to be minted by users who are present at the predetermined physical location of the drop.

The company promoted the NFTs as a fresh alternative for partnered artists, celebrities, and influencers to drop exclusive collectibles for their supporters, while the scarcity of the unique geo-specific NFTs will help bring in extra value to the collectors.

The firm will further release a metaverse platform called “Dropp Land”, which will come with a virtual reality world that is mapped to the real world. As included within the scope of the initiative, users will reportedly have the ability to purchase virtual land plot NFTs, with which to earn yield rewards or rent them to other people.