Hololoot describes itself as the world's first augmented reality NFT marketplace, generator, and the metaverse. Built by AR (Artificial Reality) industry veterans, the platform claims to combine the latest developments in automated 3D-modeling along with the rare properties of NFTs to produce an appeal that is simultaneously powerful and easy to use.
As per its whitepaper, there are one billion AR-ready devices globally, and players like Google, Apple, and Microsoft are very interested in funding such projects. However, AR NFTs creators suffer from a lack of scalable and easy solutions. Hence, Hololoot is building a proprietary no-code AR NFT marketplace and generator which aims to unlock significant commission revenues. Besides, the network brings the metaverse to users' living rooms. The asset also generates incredible AR-enabled 3D assets and mints them as NFTs in a few clicks. While other AR NFT products have so far needed either the use of un-customizable, weak tools or specialized technical knowledge, this platform offers a powerful solution anyone can use. Brands, artists, creators, gamers, and markets can take benefit of its tool to enter the incredible world of AR NFTs.
HOL is the native token with the Hololoot platform. The HOL token aims to give power and create and sustain the Hololoot ecosystem. The developer team of this network has created a token distribution model that ensures enough token liquidity at every project development stage along with a healthy token released rate compensated by a built-in token burn mechanism. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase market value. Fifteen perdent of each token transaction goes to the team, 6 percent% goes to advisors, 12 percent goes to marketing, 17 percent goes to liquidity, and 12 percent goes to strategic reserve. Users can also earn PIXEL the reward token of Hololoot by staking the HOL token at a 1:1 rate on a daily basis.
