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Luna Market Rebrands as Insomnia Labs

Metaverse promoting and tech agency Luna Market has rebranded to Insomnia Labs to mirror rising demand for its web3 branding, it introduced on Wednesday.

Major firms such as Under Armour, Curry Brands, WPP, and L’Oreal have trusted the New York, NY-based metaverse agency based by younger entrepreneurs.

The firm’s interoperable and utility-based non-fungible tokens (NFTs) have led to collaborations with manufacturers such as Curry Brands and Under Armour for a commemorative Stephen Curry digital collectable for the 2022 National Basketball Association (NBA) Playoffs.

Work on the NFT earned Insomnia Labs the Grand Prix Awards for Best Use of a Multi-Platform Campaign on the New York Festivals Advertising Awards. The 2022 Cannes Lions Festival additionally awarded the enterprise Gold within the Social & Influencer for “The First Meta Sneaker”.

Insomnia Labs now plans to develop its options to spice up its promoting and expertise options as extra manufacturers migrate to the Metaverse.

The agency will supply its proprietary in-house options, methods, and artistic content material, permitting manufacturers to leverage web3 with NFTs, decentralised autonomous organisations (DAOs), and the Metaverse.

Insomnia Labs not too long ago acquired $1.5 million in funding from Polygon, Animoca Brands, HBJ Investments, Eden Ventures, Concept Art House, and different traders.

Billy Huang, Chief Executive and Co-Founder of Insomnia Labs, mentioned,

“From tactical activations to year-long partnerships, we work tirelessly to embed culture and identity to our campaigns. We pride ourselves on knowing the latest web3 technologies and trends, and use that expertise to help top brands deliver award-winning, high-growth campaigns in the metaverse”

Jack Cameron, Co-Founder for Insomnia Labs, added that his firm’s rebranding aimed to assist manufacturers “navigate the world of web3 through long-term strategies” with the newest applied sciences.

He concluded,

“Web3 is a new world to many brands and it’s our job to help best position brands in web3 using the latest technologies”

Valerie Middleton, Head of Marketing for Under Armour’s Curry Brand, defined that coming into the web3 was “nuanced” and doubtlessly “complex and intimidating.”

She added,

“However, this tremendous team managed to shepherd us through the process with confidence, creativity, and an always-on positive approach to the mission. They are humble and hungry and you couldn’t ask for better collaborative partners”

According to experiences, the corporate additionally rebranded to keep away from affiliation with the Luna cryptocurrency token, which crashed from $86 USD per coin to almost zero over a number of months’ time.

In a press release, Huang defined the change, including that a number of firm companions requested whether or not it was “affiliated with [Luna the coin] in any way, shape, or form.”

The information comes as Insomnia Labs spoke to XR Today on the function of NFTs within the digital financial system and the Metaverse, the place the entrepreneurs defined how rising income streams for content material creators may develop the rising spatial communications platform by incentivising work and recent alternatives for collaborations.








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