The renowned South Korean tech giant’s subsidiary, Kakao Investment, provided $2 million in seed funding to the Singapore-based avatar communications company GoodGang Labs.
The expansion and advancement of Kiki Town, GoodGang Labs’ highly anticipated flagship product that is slated to revolutionize virtual interactions, will receive a strategic allocation of the recently secured funds, according to a statement from the company.
Additionally, they provide a software as a service (SaaS) API for their human-to-avatar technology to cater to the business-to-business (B2B) market.
It has been noted that kiki town distinguishes itself by only transmitting voice and avatar motion data, creating a platform that is significantly lighter and more effective.
A fully immersive 3D environment is also provided by Kiki Town, in contrast to 2D-based interfaces, giving users access to multiple virtual cameras with dynamic viewing angles.
GangHouse for Web3, a ground-breaking innovation from GoodGang Labs that enables users to communicate with one another in real-time using their non-fungible tokens (NFTs), is also about to be released. The NFT ecosystem will change as a result of this revolutionary development in how people interact and communicate.
“We’re on a mission to revolutionize the way individuals connect and communicate in the digital age,
“We envision a world where technology is a catalyst for deeper human connections, where individuals can freely express themselves, connect with diverse communities, and engage in enriching conversations without the limitations of appearance or physical location,” said Chief Executive Officer and Co-Founder of GoodGang Labs, Dookyung AHN.
He claims that the goal of the business is to develop a virtual environment where individuals can discover their true selves and engage with others in ways that have never been possible.
According to Scott Kwon, chief executive officer of Kakao Investment, avatars have enormous potential to change how people express their identities online.
“Given the right technology, people will be able to replicate social interactions that were only possible offline in the virtual world as well,
“We also expect completely new, innovative social interactions to emerge online with avatar-based communications,” he said.
This most recent achievement strengthens the Web3 markets’ notable traction for GoodGang Labs.
A sign of their expanding market appeal is the company’s BeerGang NFT collection, which during the difficult crypto winter completely sold out on LINE’s NFT marketplace, DOSI. This limited-edition collection, which has 3,333 unique items, was in high demand and showcases the cutting-edge products that GoodGang Labs offers to the market.
Dookyung Ahn, who previously held positions as Head of Developer Partnerships at LINE as a Product Manager and Strategic Partner Manager for Stories at Facebook, is one of the co-founders of GoodGang Labs.
Jaecheol Kim, a Co-Founder of Seerslab, and Seoyoung Kim, a former Art Team Lead at Facebook, are the other Co-Founders of the business.
GoodGang Labs has previously received undisclosed funding from well-known investors including Naver, Kimgisa Lab, Naver Z, and Planetarium, solidifying their position as a major player in the avatar-based communication market.
