Jupiter Meta launches India's first fully curated Non-Fungible Token marketplaceNew Delhi: Jupiter Meta launches India's first fully curated Non-Fungible Token (NFT) marketplace, taking it live on February 23.The digital marketplace, or the metaverse, will focus on music, film, and gaming, creating singular experiences for each user and enabling everyone to maximise their time in the metaverse.The Metaverse is the future of augmented reality and virtual reality technologies, with technologies going beyond gaming that enables innovation, with event promotors hosting virtual live music performances and museums offering virtual tours, more examples of a blend of the virtual and real worlds.Non-fungible token, or NFT, is a digital asset that uses blockchain technology to record who owns a virtual object such as an image, video, or in-game item.Jupiter Meta, co-founded by Sathyan Rajan and Chakradhar Reddy Kommera, plans to expand in the growing Web 3.0 space as the startup looks to bring people a more involved and personal feel to their metaverse interactions.Jupiter Meta's marketplace is backed by its level-1 Rubix blockchain technology with zero gas fees.
The blockchain is green, sustainable, and 100 per cent secure, ensuring users have a fast and safe experience."Jupiter Meta is an outcome of our vision to create a metaverse for all, for every creative mind, and not just tech buffs.
We are witnessing just the beginning of a revolutionary shift in what Web 3.0 can allow us to do and are happy to be starting our journey with the marketplace.
We're all defining pop culture at this very moment, and it's only going to get bigger," said Manasa Rajan, Business Head at Jupiter Meta."The company will also simultaneously kick off the country's first-of-its-kind digital wall art, commemorating the essence of Chennai and labelled the 'Icons of Singara Chennai'," he added.The project is a collection of digital art pieces of monuments, locations, food, places of worship, beaches, and other symbolic representations that capture the city's spirit.These items will reflect the city's past, present, and future and will be sold as NFTs for people to own in the Jupiter Meta marketplace.
Each piece is part of a larger art project and has a value associated with it, depending on the size and representation.Karthik SS of 108 Collective is leading the project's art.
The collaborative group is renowned for its surreal, abstract styles and has developed many installations across India.The digital project will feature the group's perspective of Chennai, rendered through a blend of artists' creativity and historical background.
The artists will also physically recreate the art on walls at a popular location in Chennai later as part of a beautification drive."As someone with strong Chennai roots, the project is very personal.
This celebration of Chennai, its people, language, and flavours.
And also the technology that the city prides itself on.
As artists, the metaverse is huge for us, and new opportunities are everywhere," said Mr Karthik SS.Jupiter Meta owns the NFTs and will sell them in its marketplace.
There will be 12 art pieces, and the company plans to mint multiple copies of each for sale.
To buy an NFT, buyers will have to register on the marketplace and open a wallet account.
The NFTs will be sold on a fixed-price basis.