The world of non-fungible tokens (NFTs) has been dismissed by some as nothing more than overpriced JPEGs, but proponents of the technology are hoping to prove it has real utility. GoodGang Labs, a company that enables users to interact through animated avatars and NFTs, has attracted $2 million in funding from Kakao Investment, a subsidiary of South Korean messaging giant Kakao. The investment is a sign that GoodGang might be doing something useful, as another South Korean company, Naver, has also previously put money into the Singapore-based start-up. GoodGang operates a proprietary communications platform called Kiki Town, which enables users to interact as avatars. The company uses an AI model that infers data from webcams and mics to animate the avatars, and transmits only motion and voice rather than video data, helping to reduce the amount of data exchanged and enhancing user privacy. GoodGang plans to soon enable users to interact through NFTs on a platform called GangHouse.
According to https://techcrunch.com/2023/05/24/korean-kakao-nft-avatar-goodgang-labs/
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