Niantic, the company that created the popular augmented reality (AR) game Pokémon Go and the FinTech debit card company Fold have collaborated on a new AR experience where players can earn bitcoin in a virtual environment that the company describes as a ‘real-world metaverse’.
The new AR experience is currently available for Fold App users to play in beta, allowing them to find and earn bitcoin and other rewards by exploring their physical surroundings.
The rules of the AR game are simple – every 10 minutes a new block containing fresh bounty will appear on the map and when the user finds it and opens it, he will earn satoshis, a small unit of bitcoin, alongside other in-app rewards. However, if the user comes across a ‘poison pill’, he could lose his bitcoin winnings.
Nevertheless, thanks to Niantic’s augmented reality platform tech, Fold users will be able to discover and collect bitcoin and other prizes by exploring the world around them, instead of finding rare creatures.
Unlike Facebook’s (aka Meta) vision for the metaverse, Niantic’s one involves creating an “ever-evolving AR map of the world” to “make the real world come alive with information and interactivity”, as said by the founder and CEO of Niantic – John Hanke.