Published on: 19/07/2022
AMGI Studios raises funding to create Hollywood-themed metaverse
California-based AMGI Studios has recently received funding from Top 3 Web3 Gaming companies to create a Metaverse Project powered by AMGI Studios’ App and NFT collection. The amount of funds raised was not disclosed.
Following the recent release of the Immi mobile app and My Pet Hooligan NFT collection, AMGI is poised to move forward with its metaverse project, which would make NFTs “come alive” using Immi’s animation capability.
AMGI’s upcoming metaverse project is titled The Rabbit Hole. It is currently in the Alpha phase, although it’s already playable for owners of the My Pet Hooligan collection. Also, its integration with Immi would allow players to use their NFTs as playable characters.
The initial concepts of Rabbit Hole hint that the metaverse is a mixture of Grand Theft Auto and Zootopia. According to the company, the metaverse will promote “free, exciting and rebellious gameplay juxtaposed with high-quality animated characters.”
Interloop metaverse architecture
The Rabbit Hole metaverse will employ the Unreal 5 engine and be based on a wider metaverse architecture called Interloop. Interloop, presently still under construction, will offer an immersive digital experience and bring other projects together with real interoperability. It plans to do so through the combination of different projects, intellectual properties, games, narratives and creators, building an ecosystem of assets, characters, and stories within a singular platform.
Jamie Wallace, an analyst at Bitkraft, said, “Through the use of its proprietary technology, Interloop, AMGI Studios will bring impactful interoperability to the Web3 ecosystem, essentially defining the future of the metaverse.”
The company also said it has long-term plans in development for how Interloop will take shape over time, including the ability for other projects and brands to acquire and build upon the architecture to create their own unique experiences, implying that The Rabbit Hole aims to be a stepping stone towards the initial idea of connecting Web3 with Hollywood.
“AMGI Studios is dead set on streamlining and making creativity more accessible and easier for the masses,” said Jeremy Parris, an associate at Delphi Digital.
More on the upcoming project
With backing from celebrity investors such as Mark Cuban, Tony Robbins, Pitbull and Paris Hilton, this project certainly shows promise, even outside the NFT space.
As stated above, the goal of AMGI’s metaverse is to create a bridge between Web3 and Hollywood. While it is presently unclear how that would happen in its metaverse and how it would be structured, AMGI has said that it had built a team that includes creators from leading animation studios such as Pixar, Disney and ILM to fulfill its goal to bring Hollywood’s most popular characters into the metaverse. This provides some clue as to how the plan would be achieved, although it is still unknown how far the integration scope would extend.
One thing for sure, however — as previously mentioned — AMGI’s mobile app Immi is certainly set to play a critical part in the project, as it serves to provide the animation and the “life” for the NFTs, in the sense that it animates the NFT in the metaverse.