Tech Mahindra has announced the launch of its Metaverse exercise TechMVerse, which will allow customers to create immersive experiences and transact across the Metaverse.
The company said it will have world-class network and infrastructure capabilities as well as its core technological capabilities such as comprehensive artificial intelligence (AI), blockchain, 5G, augmented reality (AR), virtual reality (VR), and quantum computing. Used to build B2B use cases across all sectors to transform customer experience and deliver real business results.
Initially, the company is expected to leverage the benefits of Metaverse through a variety of use cases, including Dealerships, a Metaverse-based vehicle dealership, MiddleMist, a non-financial transaction marketplace, MetaBank, a virtual bank And a gaming one is included. Center.
“It will provide immersive digital and professional experience services around design, content as well as low code Plug and Play Non-Fungible Token (NFT) and Blockchain platforms, while aligning the Metaverse strategy with Tech Mahindra’s digital and environmental, social and will align governance (ESG) goals,” the company said in a statement.
Additionally, Tech Mahindra has partnered with Mahindra & Mahindra to manufacture a range of digital collectibles, which will be sold on Tech Mahindra’s NFT Marketplace platform, according to the company.
CP Gurnani, MD & CEO, Tech Mahindra said: “The Metaverse has the power to disrupt our reality as well as the future. At Tech Mahindra, we have always been at the forefront of 5G and our foray into the Metaverse is a testament to the future. Another milestone in our journey to catalyze and disrupt and transform customer experiences. The fundamental layers of the Metaverse are very well integrated within Tech Mahindra and its competencies.”
What is Metaverse?
It is a continuous, online, three-dimensional environment that integrates multiple virtual spaces that can be compared to a future version of the Internet.
Thanks to the Metaverse, users will be able to collaborate, meet, play games and socialize in these 3D environments.
Although the Metaverse doesn’t fully exist yet, elements such as the Metaverse can be found on a variety of platforms.
At the moment, video games offer the closest Metaverse experience available. By holding in-game events and creating virtual economies, developers have pushed the boundaries of a game.
Within a metaverse, there may be many virtual worlds where people can engage in various activities that are the result of mixing physical and digital. Instead of staring at a screen, people will be able to stay inside their online experiences, such as shopping, meeting friends and family, attending a concert, and even submitting official paperwork to a metaverse. to complete.
However, any new technology goes through wave phases and the Metaverse will be no exception. Billions of dollars are currently being invested in the Metaverse.
However, there are still questions about the return on investment. As the metaverse pushes humanity into a more virtual space, general concerns of privacy and confidentiality arise. Cyber breaches, virtual identity theft and suspicious financial transactions are all possibilities.
As a result, governments around the world will undoubtedly face issues in developing appropriate legislation in the future. Without a doubt, the metaverse exists and most likely will remain so. However, only time will tell what shape and context it will take.
Metaverse search companies
Apart from Tech Mahindra, other companies are or are planning for the metaverse.
Various Metaverse applications are being developed by Indian IT and engineering services organizations such as Tata Consultancy Services, Infosys, HCL Technologies, Wipro, Mindtree, L&T Technology Services, and others.
Users can access Metaverse solutions from companies such as Bolly Heroes, Internality, Coop Studio, OneRare, Loca, and Zippy. Given India’s tech ecosystem, the country is projected to take the lead in future metaverse technology creation, development and adoption.
In terms of top international companies, Epic Games, makers of the popular immersive game Fortnite, was always in a good position to create the Metaverse. This year, it clarified its goals by launching a $1 billion investment round to help the metaverse flourish.
Nvidia Corp. recently announced that it will give free software to artists and other producers to create virtual environments for the Metaverse, and it has made technical agreements with various markets where artists sell their three-dimensional works.
Similarly, Microsoft announced that it will acquire Activision Blizzard, the maker of video games such as Call of Duty and Candy Crush, for about $70 billion. Microsoft said the acquisition was a step toward establishing a presence in the metaverse.
In India, Jio Platforms has announced a $15 million investment in Two Platforms Inc, a Silicon Valley-based deep tech startup founded by Pranav Mistry, for a 25 percent equity stake on a fully diluted basis.
Akash Ambani, Director, Jio, said: “We are impressed by the strong experience and capabilities of the founding team in two in the areas of AI/ML, AR, Metaverse and Web 3.0. We are committed to creating new products in the areas of Interactive AI, Immersive Gaming and Metaverse. Look forward to working closely with the two to help accelerate growth.
Recently Infosys launched Metaverse Foundry to help enterprises explore the Metaverse, which includes virtual and augmented environments for their customers, workplace, products and operations.
The virtual reality metaverse is primarily associated with gaming and entertainment as a result of investments by Microsoft and Meta (formerly Facebook), but could also play an important role in sectors such as education, pharma and automotive, the company said.
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