With NFT (non-fungible tokens) Gaining more use cases every day, an increasing number of startups have started innovating on blockchain-based digital asset ownership solutions.
Now, various artists, gamers, and creators are entering this industry to explore how NFTs can impact the creator industry.
For seasoned actor and entrepreneur Kunal Kapoorthis was an opportunity to create a culture, content and merchandise focused NFT platform for creators.
His new project love a robot (known as LABORATORY) is a robot-themed NFT community and platform for Web3 domain innovators, builders, and gamers.
“In popular culture, technological advances are often portrayed in dystopian ways. It’s important to have a counter-narrative, and so the name Love A Bot implies love for technology and pays homage to tech innovators,” he said in conversation with The story deciphered.
In the LABverse
The LAB project includes a community of builders, an AR (augmented reality) experience, NFT airdrops, artist collaboration, content creation, and more.
“India has always been an exporter of raw materials and an importer of cultural brands. So my idea is to create a platform for people who love technology and come together to create the LAB brand,” says Kunal.
Kunal was introduced to NFTs in 2020, and it felt natural to venture into the Web3 space. As an actor who told stories through film and as the founder of the crowdfunding platform Kettothe idea of telling stories and building community in a decentralized way fascinated him.
“I love storytelling, creativity and building community, and NFTs were all the things I love coming together,” he says.
Kunal says Web3 technologies allow people to build communities around decentralized IP addresses (via NFTs), help build bridges between physical and digital assets and commodities, and decentralize community building and ownership. decision.
These key aspects of building LAB excite Kunal the most.
Participation on the platform is represented by 9,876 exclusive virtual bots (NFT) which can be acquired by participants who can use them as their characters.
According to the project, each robot belongs to a particular generation of innovation that gives it its own peculiarities and has professional characteristics such as robot leaders, robot construction workers, etc.
Challenges of building in the NFT market
Kunal remains aware of keeping its NFT project organic and authentic, acknowledging that several NFT projects have deceived and scammed users.
“Building a community is definitely a challenge because it’s easy to build traffic by buying social media followers. It makes people believe in the legitimacy of a project, and they can end up getting burned. However, at LAB, we maintain incredibly organic growth and are not just focused on traction, but rather on integrating true believers into our project narrative,” says Kunal.
While the Polygon based The LAB project is still in its early stages, Kunal believes that further education around NFTs can help Indian innovators make a bigger difference in building a brand like LAB. He believes this could potentially solve the problem of low adoption of NFTs in the Indian market.
“Rather than building narratives around people making or losing a lot of money with NFTs, there needs to be education and awareness of the transformative potential of blockchain technology. NFTs are still complex for the average user,” adds Kunal .
In the future, the idea is to create LAB products, create an educational resource center and create interesting content around Web3. Kunal’s mission with LAB is to bridge the gap between physical and digital/Web3 culture, and to create digital assets that can be used in the metaverse.
“Our bots are ready for the Metaverse. We are open and happy for more people to join our community, exchange ideas and build a global and decentralized brand,” concludes Kunal.