One of the leading European NFT service providers Finch Labs, will be conducting an investment round to launch phygital NFT studio.
Realizing significant problems with the NFT market, Finch dedicated itself to creating a phygital studio that will solve the major utility crisis happening right now. This is their attempt to revolutionize WEB 3.0.
Finch Labs was created by two NFT enthusiasts, Arsenii Hurtavtsov and Alina Varakuta. This duo of Ukrainian entrepreneurs has accumulated years of experience in business and backed itself with strong cryptocurrency background to create the most versatile NFT service provider on the global market.
Knowing that the crypto space needed a guide for newcomers, they developed an array of custom services, including project management, blockchain product development, NFT marketing, and even NFT design.
It is essentially an all-in-one package for anyone who wants to sell out their own NFT products. That’s how Finch Labs became one of the first companies that successfully covered the entire cycle of an NFT project’s launch.
The team of Finch Labs professionals includes more than 50 first-class specialists; most of them are Ukrainians. They were behind many successful project mints such as Geisha Tea House, Rich Collectors Club, and Otaku Origins, generating more than $3 Million in sales. Finch Labs is also a partner of Coin Telegraph and the largest NFT community in the United Arab Emirates – ArtsDAO.
Phygital products
Nowadays, there is a distinct gap between brands, rights holders, and WEB 3.0. Currently, brands operating in the WEB 2.0 space lack understanding of WEB 3.0. And on the other hand, many brands enter the WEB 3.0 space to extract value rather than provide it.
WEB 2.0 and most NFT projects’ utility is becoming obsolete by the day, and the practical application of WEB 3.0 has been under-praised. WEB 2.0 is not valued the way it should be in the art world, while in the WEB 3.0 space, we’re seeing an influx of low-quality, mass-produced artwork. Lastly, physical goods dominate the WEB 2.0 space, while they’re almost unheard of in
WEB 3.0.
The problems mentioned can be solved by the next phase of metaverse assets – phygital products. This play-on-words loosely defines an experience that combines both physical and digital elements.
Phygital products aim at syncing WEB 2.0 and WEB 3.0 markets. They exist to add value to both worlds and create a new dimension to utility. Yet, according to research, only 9% of the top 400 NFT collections provide value in the physical world. Capitalizing on this opportunity is Finch Lab’s current objective.
Finch Labs strives to merge three multi-billion markets – NFTs, metaverses, and physical collectibles. To accomplish that, the company will partner with the world’s most prominent artists, brands, & celebrities to add truly valuable utility to NFTs.
“The NFT industry has seen a lot of attention from global brands from WEB 2.0 through the last years. However, after quickly realizing how overvalued and underachieving these attempts are, we decided to take action.
The products of Finch Lab’s new studio will exist both in the physical world, as a real figure that one can see, touch, and play around with, as well as in NFT format on the blockchain.
The company believes it’s the perfect utility to build a community around, and there are a lot of genuinely unique ideas to develop.”
Compared to similar NFT start-ups, Finch Labs will diversify its product line by launching NFT collections, collectible toys, jewelry, metaverse assets, and hosting private NFT events.
The Finch team doesn’t disclose details about their first drop, but something epic is expected, given the company’s prior experience in the NFT market.
After attracting investments, Finch Labs plans to become the first company to allow its NFT holders to use digital assets in the metaverse, trade them on virtual marketplaces, and redeem them for real-life physical collectibles.
