Pokemon Go Developers Niantic Partners With Fold to Launch 'Real World Metaverse' With Bitcoin Rewards

Niantic's real-world mapping tech combines Fold's feature to let users earn Bitcoin rewards.

Pokemon Go Developers Niantic Partners With Fold to Launch 'Real World Metaverse' With Bitcoin Rewards

Photo Credit: Fold

Fold AR is currently available for users to play in beta in the Fold App

  • Niantic recently raised $300 million from Coatue
  • The AR experience lets players earn Bitcoin by claiming blocks
  • Niantic has plans of creating its own metaverse

Niantic, the developer behind the popular augmented reality (AR) game Pokemon Go, has joined hands with payments company Fold to launch an AR experience where players can earn Bitcoin in a virtual environment that the company describes as a "real world metaverse." The feature is currently available for Fold App users to play in beta, enabling them to earn Bitcoin and in-app benefits by exploring their physical surroundings. Niantic is working on expanding this experience, buoyed by Coatue's most recent $300 million (roughly Rs. 2,234.7 crore) investment into the company.

"This is the easiest, most fun way to get your first piece of Bitcoin," said Fold CEO Will Reeves. "Anyone can use our [Fold] app to earn Bitcoin and other rewards by exploring the world around them. For us, it's always been important to make participating in the Bitcoin economy easy for anyone, regardless of education or technical expertise."

Instead of finding rare creatures in the world around you, Fold users will be able to discover and collect Bitcoin and other prizes around them, thanks in part to Niantic's AR platform tech. Every 10 minutes, a new block containing fresh bounty is dropped in the vicinity of a player. Once a block is claimed, the user earns Satoshis, a kind of cryptocurrency, alongside other in-app rewards. There is an element of luck involved here though as you could lose your Bitcoin winnings if, for example, you come across a 'poison pill'.

Those interested in giving the feature a spin doesn't have to own a Fold card to play the game, although cardholders will be granted additional boosts and prizes. Once the game has been fully released, customers will also be able to hide and trade Bitcoin.

The Pokémon Go developer's vision for the metaverse is quite different from the one Facebook aka Meta is promoting, which aims at connecting users in VR. Niantic's founder and CEO John Hanke actually published a blog post earlier this year saying this approach relies on virtual reality, popularised by Ready Player One, is a "dystopian nightmare."

Niantic's vision involves creating an "ever-evolving AR map of the world" to "make the real world come alive with information and interactivity," Hanke said at the time. The funding from Coatue will aim at expanding the Lightship ARDK, Niantic's augmented technology that it started licensing to other developers earlier this month.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges


For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Samsung's 2022 Products Lineup Tipped to Include Galaxy Tab S8 Series, Galaxy Watch 5, Galaxy Buds Pro 2, More
OnePlus RT, OnePlus Buds Z2 Tipped to Launch in India Next Month, Colour Options Leak
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »