GenZeroes is a new multi-media franchise and is being developed in collaboration with several artists with work experience that includes projects for both the StarWars and Marvel franchises.
In just 37 minutes, all 10,000 of HoK’s GenZeroes were sold and subsequently delivered to more than 3,000 unique blockchain wallets, for aggregate proceeds to LG Labs of approximately $6,200,000.
All 10,000 GenZeroes sold in the drop were unique, three-dimensional avatars and each GenZero has varying attributes. Due to the range of body parts and variety of attributes available, no duplicate avatar was created and therefore all GenZeroes are rare and valuable.
Looking Glass is entitled to collect 5% of the gross amount of any and all GenZeroes re-sold in the secondary market in perpetuity, through a royalty provision encoded into each smart blockchain contract of all GenZeroes.
GenZeroes are currently bought and sold on OpenSea, a leading global NFT marketplace. To date approximately $4,300,000 of GenZeroes have been re-sold in the secondary market, thereby earning the Company an additional $215,000 in royalty revenue within weeks of GenZeroes initially being offered to the market.
“We are extremely pleased with the success of the GenZeroes Drop, which was completed in such a short amount of time. Having been involved in the blockchain industry since 2012, I have witnessed several crowd-sales experience prodigious success on account of highly engaged and enthusiastic supporters,” said Dorian Banks, Chief Executive Officer of Looking Glass.
“I am very grateful for our talented and committed team members, as well as for our ever-growing base of HoK supporters who are validating our business model as we build out the HoK metaverse with new and innovative NFTs.”
In the near future, Looking Glass intends to conduct a new drop of NFTs representing land assets in the forthcoming HoK metaverse.