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Looking Glass Labs’ Subsidiary House Of Kibaa Joins DigiBC To Advance NFT And Metaverse Opportunities In British Columbia

House of Kibaa Joins Electronic Arts, Sony Pictures Imageworks, Animal Logic, Industrial Light & Magic and The Coalition (Microsoft) to Help Make British Columbia the World’s Leading Centre for Creative Technology

Looking Glass Labs Ltd. (“LGL” or the “Company”), a digital platform specializing in non-fungible tokens (“NFTs“), utility non-fungible token (“uNFT“) architecture, immersive extended reality (“XR“) metaverse design and virtual asset royalty streams, is pleased to announce that its subsidiary House of Kibaa (“HoK“) has become a Video Game/IDM Company member of The Creative Technology Association of British Columbia (“DigiBC“). DigiBC is a non-profit industry group for the creative tech sector in British Columbia, where LGL recently established its global corporate headquarters. With member organizations in the video gaming, visual effects, augmented reality (“AR“) and virtual reality (“VR“) sectors including, but not limited to, major global conglomerates such as Electronic Arts, Sony Pictures Imageworks and The Coalition (Microsoft), DigiBC facilitates growth within the dynamic ecosystem of firms in the creative technology industry in British Columbia, which generates CAD 2.3 billion in annual sales provincewide.

PREDICTIONS-SERIES-2022

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DigiBC has successfully advocated for tax credits and fiscal policy changes in British Columbia, to the benefit of stakeholders in the creative technology space. The Interactive Digital Media Tax Credit, a digital media tax credit introduced through advocacy by DigiBC, was recently revised to include VR and AR works. Through DigiBC, LGL intends to explore opportunities for NFTs, uNFTs and metaverse-related technologies to potentially be added to the scope of interactive digital media in the context of public policy relating to digital art creations. Further, LGL plans to participate in several of DigiBC’s member offerings such as academic research partnerships, B2B networking and industry events.

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Management Commentary

Dorian Banks, Chief Executive Officer of LGL commented, “Metaverse and NFT technologies really entered the mainstream in 2021 and, given their inherently artistic nature, we believe it is important for those in established areas of digital art (e.g., video game design, 3D animation) to be able to gain familiarity with how the metaverse and NFTs are fitting into various artistic disciplines, both now and in the future. I believe that LGL’s relationship with DigiBC can be a growth catalyst for us as we look to drive awareness of our offerings, build a team for our new global headquarters in Vancouver, and prepare for several upcoming launches in the near future, such as the HoK metaverse. We are excited to be a member of DigiBC, and we look forward to becoming integrated with their community as we go into 2022.”

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 [To share your insights with us, please write to sghosh@martechseries.com]

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