Chibi Labs, a studio creating NFT collections specifically designed for Metaverse integration, will be hosting a virtual new year party on Decentraland to celebrate the launch of its upcoming NFT project.
The party, which will count with participation from Aloe Blacc, a grammy nominated and GMS award winner artist, who will be giving a special performance in collaboration with other special guests and DJs. Chibi Labs will be joined by other NFT projects like Desperate Ape Wives, OnChain Monkey, Galaxy Eggs, and BeatHeadz.
Those who assist the party will not only get to enjoy the music and participáte in special giveaways but will also experience the potential of the metaverse Decentraland has created. Chibi Labs owns 16 parcels of land in the virtual universe which has developed into a jungle-like private world in collaboration with the Last Slice Collective, which will become publicly accessible via a portal on the ground level.
Led by entrepreneurs Sposta and Evan Hecht, Chibi Lab’s genesis collection generated more than 142 ETH in trading volume after launch, with a similar performance from other collections. While other NFT projects have focused on the development of unique 2D generative avatars, Chibi Labs has paid special attention to the development of metaverse-ready avatars based on futuristic 3D art which has allowed it to grow its community significantly.
In a report published back in November, Grayscale estimated the potential revenue of the Metaverse to be around $1 trillion when accounting for use cases other than gaming, including social commerce, digital events, and advertising. Coingecko estimates the total capitalization of all Metaverse-related cryptocurrencies to be around $28 billion, with daily trading volumes of more than $2 billion.
With the Metaverse continuing to captivate the public, virtual worlds like Decentraland have gained increasing attention from gamers, investors, and netizens around the world, opening the doors to new use cases. 2020 saw Dentraland host a variety of concerts with participation from popular artists like DeadMau5, Paris Hilton, and 3Lau, with Aloe Blacc joining now in collaboration with Chibi Labs.
