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Octi Expands Into Web3 With Augmented Reality Social Network Ultraviolet


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Disclaimer: The text below is a press release that was not written by Cryptonews.com. Octi began as an AR-focused social app where users could utilize augmented reality to collect and create content with digital collectibles and earn in-app tokens. Now, Octi is set to launch their newest web3 social network, Ultraviolet, which will make owning, earning, and creating on the blockchain simple and fun for anyone. Justin Fuisz, the Co-Founder and CEO of Ultraviolet, took developing and creating to the next level by evolving Octi, an AR-focused app, into Ultraviolet, an all-in-one social web3 platform created by and for the community. The app will revolutionize the way much of Gen Z thinks about NFTs by eliminating the roadblock of complicated buying processes and transaction fees. In response to the new changes coming to the social marketplace, Fuisz describes exactly why this new app is going to revolutionize the way Gen Z thinks about NFTs. “We remove the barrier of entry for many new users interested in trading and buying NFTs,” said co-founder and CEO Justin Fuisz.“It’s important that the future involves an accessible cross chain platform in a social marketplace made simple enough for anyone to use. We want to take the value and utility and make it available for everyone.”The startup’s core product began with Octi debuting at #1 on the iOS App Store while still in beta. Octi season 1 beta amassed over 350,000 users who participated through in-app trading, collecting, and creating to earn both physical and digital items. Now, Octi plans to release Ultraviolet as the stepping stone into web3 for a larger audience. NFTs will act as a way to earn in-app currency and exclusive items which can be swapped for their upcoming token. Over the last year, the popularity and utility of NFT projects have skyrocketed with the success of projects like RTFKT x Nike, Bored Ape Yacht Club, Adidas, and more. Ultraviolet has already collaborated with hundreds of digital artists and small businesses whose art-turned-NFTs will be featured on the platform daily to millions of users. Works from artists and independent creators, made into NFTs will have future use and utility in the app as well as the ability to be exported to external wallets. Users will also be able to turn their real life items into life-like 3D models. By simply using the camera on their smartphone to scan a physical item in the real world, a 3D NFT will be rendered of the item to Ultraviolet and will allow the creator to sell, fractionalize, and create using their new NFT. Ultraviolet’s advisors and investors include web3 specialists like Benny Giang (ex-Dapper Labs and CryptoKitties), Kevin Lin (co-founder of Twitch), Shiva Rajarman (Vice President of Product at OpenSea), and Tom Conrad (ex-Vice President of Product at Snapchat). In addition to these investors, Octi has USD 18.6M investment backing from investors like Live Nation, I2BF Global Ventures, and Shasta Ventures.

All data is taken from the source: http://cryptonews.com
Article Link: https://cryptonews.com/news/octi-expands-into-web3-with-augmented-reality-social-network-ultraviolet.htm

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