Hot Houston summer spot plans to sell NFT membership

making waves

Each NFT pass to Lago Mar Crystal Lagoon is available for $170 to $210. Rendering courtesy of Land Tejas

One of the most hyped — and most baffling — tech innovations on the planet is making waves in Texas City.

The Lago Mar Crystal Lagoon waterpark says it’s now selling season passes based on NFT technology. NFT stands for non-fungible token.

“At a basic level, an NFT is a digital asset that links ownership to unique physical or digital items, such as works of art, real estate, music, or videos,” the Insider website explains. “NFTs can be considered modern-day collectibles. They’re bought and sold online, and represent a digital proof of ownership of any given item. NFTs are securely recorded on a blockchain — the same technology behind cryptocurrencies — which ensures the asset is one-of-a-kind.”

The Lago Mar lagoon, a 12-acre waterpark that opened in 2020, says its NFT-based season pass may be the first anywhere to enable admission into an attraction. The park’s traditional and NFT season passes provide unlimited access to the lagoon, which hosts annual events like Lagoonfest Texas. The lagoon anchors a planned 100-acre, mixed-use entertainment district.

Uri Man, CEO of The Lagoon Development Co., which developed the Lago Mar venue, says the NFT pass offers perks that a regular pass doesn’t. For example, the NFT pass lets you enjoy special activities at the state’s largest crystal lagoon, such as setting sail with a professional captain or going kayaking.

“This payment option is buzzing around the event and attractions community, with entertainment and crypto experts theorizing how places like Disney World might be able to offer NFT entry and experiences,” Man says in a news release. “We’re not just talking about it, though — we’re doing it, and we are the first in the world, as far as I know.”

Each NFT pass is available for $170 to $210. Passes can be purchased with several types of cryptocurrency.

The Lago Mar lagoon’s NFT partner is OpenSea, an NFT marketplace. OpenSea’s investors include Dallas Mavericks owner and Shark Tank investor Mark Cuban, Austin entrepreneur and author Tim Ferriss, and NBA star and former University of Texas basketball standout Kevin Durant.

It's possible that NFT passes someday could pop up at Lagoon Development’s other waterparks. It already operates a crystal lagoon in Humble, is building another one in Iowa Colony, and expects to break ground soon on lagoons in Cypress, Katy, and Splendora.

To say that NFTs are exploding in popularity in the Houston area and elsewhere is a massive understatement. One study shows NFT sales hit $17.7 billion in 2021, up from $82.5 million in 2020, according to the Axios news website. Investment bank Jefferies predicts the value of the global NFT market will exceed $35 billion in 2022 and $80 billion in 2025, the CoinDesk news website reports.

The Texas City lagoon is just one of many businesses being captivated by the growing allure of NFTs. For instance, speculation continues to swirl that Disney’s theme parks will eventually adopt NFT season passes.

Furthermore, the NBA’s Dallas Mavericks may turn to NFTs for ticketing, and Southern California’s annual Coachella music festival is selling lifetime passes as NFTs.

“NFT tickets have the ability to not only take ticketing technology to the next level, but to also enable direct relationships between the seller and the buyer, and the performer and the fan — creating a connection that begins as soon as the NFT ticket is purchased, and continuing long after the event has ended,” the Better Marketing blog points out.

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Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included the a series A raise, promising energy tech companies, and more.

Houston company secures $12M series A for decarbonization plant

Houston-based Citroniq Chemicals has secured its series A funding. Photo via Getty Images

A fresh $12 million round of funding will enable Houston-based Citroniq Chemicals to propel planning, design, and construction of its first decarbonization plant.

An unidentified multinational energy technology company led the series A round, with participation from Houston-based Lummus Technology Ventures and cooperation from the State of Nebraska. The Citroniq plant, which will produce green polypropylene, will be located in Nebraska.

“Lummus’ latest investment in Citroniq builds on this progress and strengthens our partnership, working together to lower carbon emissions in the plastics industry,” Leon de Bruyn, president and CEO of Lummus Technology, says in a news release. Continue reading.

10 most-promising energy tech startups named at annual Houston event

Over 500 people attended the 21st annual Energy Tech Venture Forum hosted by the Rice Alliance. Photo courtesy of Rice

Investors from around the world again identified the most-promising energy tech startups at the Rice Alliance for Technology and Entrepreneurship's annual event.

"The recognition that Houston is the epicenter of energy transition is growing. It's something we are championing as much as possible so that the world can know exactly what we're doing," Paul Cherukuri, chief innovation officer at Rice University says at the 21st annual Energy Tech Venture Forum.

The event took place during the inaugural Houston Energy and Climate Startup Week, and nearly 100 startups from 23 states and seven countries pitched investors Wednesday, September 11, and Thursday, September 12. At the conclusion of the event, the investors decided on 10 companies deemed "most promising" from the presentations. Continue reading.

Scientists use Houston rainwater to explore origins of life on Earth

Alamgir Karim was instrumental in the new discovery. Photo Courtesy of University of Houston Office of Media Relations

A flask of Houston’s rain helped answer a long-running question about the origin of cellular life.

The solution is proposed by two University of Houston scientists, William A. Brookshire Department of Chemical Engineering (UH ChBE) former grad student Aman Agrawal (now a postdoctoral researcher at University of Chicago’s Pritzker School of Molecular Engineering) and Alamgir Karim, UH Dow Chair and Welch Foundation Professor of chemical and biomolecular engineering, and director of both the International Polymer & Soft Matter Center and the Materials Engineering Program at UH. They were joined by UChicago PME Dean Emeritus Matthew Tirrell and Nobel Prize-winning biologist Jack Szostak in an article published last week in Scientific Advances.

For two decades, scientists like Szostak have hypothesized that RNA fragments were the first components of life to form in the Earth’s primordial seas 3.8 million years ago. Although DNA is an essential component of cellular life, it can’t fold proteins, making it unlikely to be the initial starting point. Since RNA can fold proteins, it could have been the catalyst for cellular growth and evolution. Continue reading.

Texas robotics company expands in Houston with service-focused automation technology

You might be seeing more robots in restaurants, thanks to Texas-based RobotLAB. Photo courtesy of RobotLAB

Snazzy sombrero-wearing robots are gliding over to your table, carrying chips, salsa, and drinks, electronic eyes wide open on its interactive screen, ready to serve. The bot, provided by the new Houston franchise branch of RobotLAB Inc., debuted at Johnny Tamales Tex-Mex Cantina in Missouri City last week.

The restaurant's owner, Anil Patel, arranged for a one-month trial rental of the machine. But so far, he tells InnovationMap that he’s pleased with his “no-brainer” decision to add a small food delivery robot, which he says has huge marketing potential.

“I’m a sucker for technology. You look at it, and I think this is the future,” says Patel, who used to work in the health care industry. Continue reading.

New AI program powered by Mark Cuban opens applications for Houston students

In partnership with a digital consultant company, the Mark Cuban Foundation is looking for high school students interested in AI. Photo via Getty Images

The Mark Cuban Foundation is partnering with digital consultant company Perficient’s Houston office to bring a one-of-its-kind, free artificial intelligence camp to high school students in Houston.

Applications, which are open now online, will close September 30.

“With the proliferation of AI, it’s more important than ever to increase AI education – especially among today’s youth,” Bill Davis, senior vice president at Perficient, says in a news release. Continue reading.

Houston space co. secures $4.8B NASA contract to provide communications, navigation services

near space exploration

Houston-based space exploration, infrastructure, and services company Intuitive Machines has snagged a deal with NASA that could be worth more than $4 billion.

Under the contract, Intuitive Machines (Nasdaq: LUNR, LUNRW) will supply communication and navigation services for missions in the “near space” region, which extends from the earth’s surface to beyond the moon.

The five-year deal includes an option to add five years to the contract. In total, the contract could be worth $4.82 billion. The initial round of NASA funding runs from October 2024 through September 2029.

“This contract marks an inflection point in Intuitive Machines’ leadership in space communications and navigation,” Steve Altemus, CEO of Intuitive Machines, says in a news release.

Under the deal, the company will deploy lunar relay satellites and provide communication and navigation services that play a role in NASA’s Artemis campaign to establish a long-term presence on the moon.

A highlight of the contract is the debut of Intuitive Machines’ lunar satellite constellation, a service that the company “believes is a strategic element in its vision to commercialize lunar activities.” The constellation will deliver data and transmission services and enable autonomous operations.

Earlier this month, Intuitive Machines secured its fourth contract with NASA’s Commercial Lunar Payload Services, or CLPS, program. The $116.9 million agreement will task Intuitive Machines with delivering six science and technology payloads, which will include one European Space Agency-led drill suite to the Moon’s South Pole.

Additionally in August, Intuitive Machines signed a deal with Houston-based launch services company SEOPS to offer lunar rideshare services. Under the deal, Intuitive Machines will enable SEOPS to deliver customers' payloads to the surface of the moon, as well as to Lagrange points and geostationary transfer orbits.

Chevron names inaugural cohort of Houston energy innovators

research ready

Anew program from Rice University and Chevron has named its inaugural cohort.

Funded by Chevron, the Chevron Energy Graduate Fellowship will provide $10,000 each to 10 Rice graduate students for the current academic year, which supports research in energy-related fields.

The Rice Sustainability Institute (RSI) hosted the event to introduce the inaugural cohort of the Rice Chevron Energy Graduate Fellowship at the Ralph S. O’Connor Building for Engineering and Science. Director of the RSI and the W. Maurice Ewing Professor in Earth, Environmental and Planetary Sciences, Carrie Masiello presented each fellow with a certificate during the ceremony.

“This fellowship supports students working on a wide range of topics related to scalable innovations in energy production that will lead to the reduction of carbon dioxide emissions,” Masiello says in a news release. “It’s important that we recognize the importance of intellectual diversity to the kind of problem-solving we have to do as we accomplish the energy transition.”

The work of the students focuses on creating "real-world, scalable solutions to transform the energy landscape,” per the Rice release. Recipients of the fellowship will research solutions to energy challenges that include producing eco-friendly hydrogen alternatives to fossil fuels and recycling lithium-ion batteries.

Some of the fellows' work will focus on renewable fuels and carbon-capture technologies, biological systems to sequester carbon dioxide, and the potential of soil organic carbon sequestration on agricultural land if we remove the additionality constraint. Xi Chen, a doctoral student in materials science and nanoengineering, will use microwave-assisted techniques to recycle lithium-ion batteries sustainably.

Rice President Reginald DesRoches began the event by stressing the importance of collaboration. Ramamoorthy Ramesh, executive vice president for research at Rice, echoed that statement appearing via Zoom to applaud the efforts of doing what is right for the planet and having a partner in Chevron.

“I’m excited to support emerging leaders like you all in this room, who are focused on scalable, innovative solutions because the world needs them,” Chris Powers, vice president of carbon capture, utilization and storage and emerging at Chevron New Energies and a Rice alum, says at the event. “Innovation and collaboration across sectors and borders will be key to unlocking the full potential of lower carbon energies, and it’s groups like you, our newest Chevron Fellows, that can help move the needle when it comes to translating, or evolving, the energy landscape for the future.”

To see a full list of fellows, click here.

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This article originally ran on EnergyCapital.

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