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Although NFTs have been around for a few years now, their usefulness has grown significantly in 2021. This may be because the tangible things in this world are moving towards a more digital reality as a result of increasing acceptance, or anticipation. metaverse, largely catalyzed by COVID-19s.
Malaysian NFTs are mostly related to the arts industry, but they can be used for much more, as we have done. written before. They also have utility functions, and MinNature Malaysia (MinNature) is trying to reduce the barriers to access by allowing visitors to purchase tickets (NFT) via cryptocurrency.
This digital change of the group came into force after fighting the 18-month blockade, where the only viewers of MinNature’s sculptures were the four walls of its gallery.
The big dreams were stopped by the blockades
MinNature is an art exhibition showcasing approximately 34,000 miniature replicas of various Malaysian sculptures in its 1,207-square-foot gallery space.
Trivia: The construction of the Merdeka center in Dataran cost about RM 80,000.
It first open Summit at the USJ in 2016, where the exhibition focused on the children and family market.
On March 3, 2020, MinNature relocated to JUMPA in Sungei Wang Square, the heart of KL’s Golden Triangle, and reinvented itself as a beacon of Malaysian culture and heritage. There, they hoped to attract more tourists and adults.
Speaking to Vulcan Post, Wan Cheng Huat, founder and curator of MinNature Malaysia, said: “After spending a lot of money on marketing, promotion, KOL and bulletin boards for our inauguration, our team was looking forward to this new start for MinNature.”
“But little did we know what was for us.” After reopening and 2 weeks later, the MCO came into force and the tourism industry came to a standstill.
Looking for the end
What many expected to be in the blockade for just a couple of weeks turned into a month, and morale continued to plummet. The team realized that dreams of reopening MinNature would not happen as long as the cash reserves reached zero without the end of the blockades.
“During the lockout, I had to contact my mother and siblings to help cover my monthly financial commitments as well as put my house up for sale,” Cheng Huat said in our interview. But as he could not find a buyer, his house was not sold.
“Personally, as a creator, I was very devastated. Words cannot accurately describe that feeling. I was about to give up. ‘
Knowing that they could not control the government’s plans, the group decided to refocus their energy to be part of a 3D printing initiative to help the front lines. Participation could free him from some unwanted thoughts about the situation at the time.
Many pivots also tried to bring in revenue for the business, from hosting paid virtual tours to selling custom miniature products online and offering modeling services. The group also tried to sell vegetables and durians to earn some money.
Cheng Huat recalled that these initiatives were not easy to plan and implement, especially after the group was reduced from 8 members to 60 in MCO 2.0.
“The saddest part of the MCO was that we had to release our entire team in October 2020. We initially ran out of the reservations we had allocated before the MCO,” he said.
To convert digital migration
MinNature’s team was active throughout the MCO despite closing the doors of the exhibition to get into the metaverse. One free session was the MinNature 360 experience, where viewers explored the gallery and its miniature wonders.
It was a way for the group to get feedback from users about their acceptance of their metaverse project. “We wanted to know how the audience felt when they explored MinNature’s 360 vision, what their expectations were, and whether it was a viable option,” Cheng Huat explained.
“Based on this survey, it led us to explore and develop the metaverse to complement our existing offerings.”
But their metaverse plans are not just a jump on the bandwagon. Even before the 2020 blockchain, Cheng Huat said they already saw metabersion-related technologies as metabersion-related technologies such as AR to make their products more attractive.
In fact, MinNature was already doing immersion mapping in its thumbnails to develop its AR application, but development was halted as a result of MCO.
“We are now working on fundraising and re-development plans, focusing on the implementation of MinNature metaverse and NFT implementation. This is where people can come to explore MinNature digitally as well as purchase our miniature collection as NFT,” said Cheng Huat.
NFTs as a new income
As part of the above adoption, the gallery has begun to accept cryptocurrencies through its ticket sales. As there is no “fixed price” for crypto and NFTs, visitors will pay for a cryptocurrency equivalent to the Ringgit value of the card, and payments will be made in XRP or USDT cryptocurrencies.
To encourage the adoption of this payment method and user fees, the group is also making promotions for those who pay through crypto.
In addition, MinNature has released the first NFT series called “MinNature Official – Mini in the Glass Wall Collection”. Open sea. “We believe that with a balance of digital and physical gallery, we will be able to reach and expand into untapped markets,” Cheng Huat said.
The whole idea that metaverse and NFTs are used as currency can basically “own” digital assets. Sculptures of MinNature’s small buildings, roads, and infrastructure present a physical and tangible way of understanding the concept of metaverse, in my opinion.
“The possibility of having a piece or a whole miniature building or sculpture will be realized through our NFT. The use of physical matching in our NFT is developing this special case. “
MinNature has also successfully organized paid virtual live tours, which it intends to maintain as an ongoing program in the coming months. This will open its reach to all kinds of visitors, even those who may not be able to visit from abroad.
So even if the next MCO happens, we see one more opportunity to implement our new ideas. For MinNature, we have already overcome the worst part of the MCO and we are moving forward, even if another blockade is imminent.
Wan Cheng Huat, founder and curator of MinNature Malaysia
- Learn more about MinNature Malaysia here.
- Read what we wrote about NFT and how they are growing in Malaysia here.
Featured Image Credit: Wan Cheng Huat, Founder and curator of MinNature Malaysia
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