Translucia, the metaverse developer subsidiary of T&B Media Global (Thailand) and Sunovatech India, an immersive and extended reality company, on Friday entered into a partnership for a series of initiatives to build metaverse and talent ecosystem.
Translucia has plans to build a comprehensive ecosystem with metaverse elements to create a virtual world worth $3 billion. Sunovatech will act as a production hub to build 3D assets, environments and modules for the Translucia metaverse, the companies said.
The companies will also partner with other developers, including telecom operators, to provide the services.
“Metaverse itself is a platform. You imagine a task, imagine an event or you imagine a gathering or you imagine doing something for the community, you can all do that in the metaverse. And of course, like any other metaverse, we will be offering these services. It actually offers a global platform to do that so it’s all the industries. We’re not just focusing on one industry, there are many industries,” Rishi Ahuja, Founder, Sunovatech, told reporters here.
For instance, he said, if automotive industry is making their metaverse, Sunovatech has the host to be present for their metaverse. If there’s an educational institution making their metaverse, it will be the host.
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On hiring, Ahuja said the anticipated number will go up to 250-300 highly talented and skilled people in the next one year.
“We are looking actively to partner with universities, research institutions, and the communities whether it is an individual or a start-up or SME or a bigger player,” he added.
According to Nasscom, Metaverse is emerging as a fast-developing technology sector in India and market size of this industry is expected to be around $1.3 trillion by 2030.