NFTs are digital certificates stored on a blockchain, a distributed, immutable database. Critics have discredited them as overpriced JPEGs, but believers are proving them wrong by integrating them with apps that have mainstream adoption. GoodGang Labs is one such example, enabling users to interact through animated avatars and soon NFTs.
GoodGang Labs, located in Singapore, is supported by two South Korean giants, Kakao and Naver. Kakao Investment, the subsidiary of Kakao messaging giant, has recently invested $2 million into the company. Naver and its subsidiary Naver Z have also invested in GoodGang via undisclosed financings. This shows that GoodGang could be on to something useful.
GoodGang runs a two-pronged approach. First, the company operates its proprietary communications platform Kiki Town, wherein users can interact as avatars; they may even use existing characters from other platforms like Line Next and Zepeto. Compared to regular video calling, GoodGang’s AI models infer data coming from webcams and mics and transmit motions and voices only. This ensures effective data conservation, as it uses 1,000 times less data than 4K videos.
Moreover, GoodGang offers a Software-as-a-Service (SaaS) API, which helps other communication apps to include motion-tracked avatars for their Gen-Z users. GoodGang also plans to release GoodHouse, a platform to enable interaction through NFTs from multiple blockchains.
GoodGang was founded by veterans from leading companies like Facebook, Line and augmented reality startup Seerslab. Its existing investors include Kimgisa Lab and Planetarium.
The co-founder of GoodGang, Dookyung Ahn, mentioned that their approach not only conserves network resources, but also enhances privacy. This is because it reduces the exposure of personal visual information. Their innovative approach to NFTs has the potential to revolutionize the way we interact in the virtual world.
