April 26, 2024

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AR solutions developerScanetchain said on June 7 that it had won the grand prize at Seoul VRAR Expo Awards, a conference for augmented and virtual reality technology held from May 30 to June 1 in Seoul.

At the event, the AR startup showcased, among others, its InXight mobile application, which recognizes objects, brand logos, and images using AR tech both offline and online without any additional devices. The technology allows users to access relevant content and purchase products and services on e-commerce platforms, such as Coupang and Rakuten. 

InXight users can also create their own AR content and share them with others on the app as well as social media.

“Allowing users to create their own content enables a true decentralized open ecosystem where crowd-curated content can benefit the greater community,” Scanetchain CEO David Ham said.

To encourage users to join and help build the AR ecosystem, the company rewards them with its SWC digital asset tokens for their activities, such as creating and uploading AR content, scanning to search, communicating with other users on the platform. Users can spend the digital token on e-commerce websites or exchange them with other crypto coins or fiat currencies.

By Kim Young-won (wone0102@heraldcorp.com)