Liquid Avatar launches metaverse payments program

Digital identity company Liquid Avatar Technologies (Liquid Avatar Technologies Stock Quote, Charts, News, Analysts, Financials CSE:LQID, OTCQB:LQAVF, FRA:4T51) is advancing the commercialization of the metaverse, launching a payment card and loyalty program for its Aftermath Islands Metaverse platform.

Liquid Avatar, which has online identity management solutions for customers to create high-quality digital avatars for verification and identity purposes, announced on Monday the launch of the LQID card, called the first-ever payment card and loyalty program created specifically for the metaverse. Powered by OptimizeFT’s Engage360 payment card and digital banking solutions platform, LQID allows users to earn cashback by shopping at online store Liquidshopz and earn loyalty points by participating in Aftermath Islands activities.

“We’re excited to offer the very first payment card for the Metaverse, supporting individuals and entities as they engage in virtual activities,” said Michael Konikoff, Chief Revenue Officer of Liquid Avatar, in a press release. “In addition to retail and online payment opportunities, users of the LQID card will be able to experience exciting Virtual Land and NFT opportunities at Aftermath Islands and other immersive experiences.”

Toronto-based Liquid Avatar bought a 50 per cent equity interest in Aftermath Islands this past December through its 100 per cent owned subsidiary Oasis Digital Studios. The company reported in January that Aftermath Islands’ Virtual Land plots and parcels have seen strong sales since going live in November, with over 3,000 unique customers having acquired virtual lands or related non-fungible tokens (NFTs). Aftermath Islands reported that 89 per cent of its Phase 1 and 2 Estate Islands were sold out and a Phase 3 involving theme-based virtual island play have now been introduced. The company said the complete Phase 3 release of over 7,500 parcels has a list value of about US$2.2 million.

“The results thus far in the uptake and sale of virtual land in Phases 1 and 2 has been excellent and we’re excited to be initiating the release of Phase 3 of Aftermath Islands Metaverse,” said David Lucatch, Managing Director Aftermath Islands Metaverse, Oasis Digital Studios and CEO of Liquid Avatar Technologies, in a January 6 press release.

“The rise in activities for the metaverse supports Liquid Avatar Technologies’ digital identity and avatar strategies and opens opportunities to extend our product and services reach to the emerging multiverse marketplace,” Lucatch said.

Disclosure: Liquid Avatar Technologies is an annual sponsor of Cantech Letter.