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How the Metaverse Drive Innovation in Entertainment Domain

Published Wed, Aug 03 2022 01:55 am
by The Silicon Trend

 

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A Punjabi Indian singer Daler Mehndi has always allured massive crowds. However, this year in January, when he had his debut concert in the Metaverse, 20Mn people logged in at once, crashing down the servers. The program was held on PartyNite, one of India's first Metaverse environments. With this, the singer became the first Indian artiste to join the likes of Ariana Grande, Travis Scott, and Justin Bieber, who have had concerts on the platform.

 

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In May, Media and entertainment (M&E) major Zee inaugurated its Tech and Innovation Center in Bengaluru, India, bringing together the necessary skills and resources to help it enter the Web 3.0 universe known as Zeeverse. In June, telecom major Airtel introduced a Metaverse multiplex, a 20-screen platform that plans to provide content from leading OTT partners.

For instance, GSK Consumer Healthcare's antacid brand ENO has developed India's first-ever stand-up comedy program to celebrate its 50 years of presence in the country. According to the global consulting firm PwC, India's M&E sector will be worth INR 4.3L crore by 2026. A senior director of Growth at Agora - Ranga Jagannath said the Metaverse would soon be an amazingly virtual real world, with people accessing new immersive experiences.

 

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However, creating a Metaverse experience isn't easy and needs innovative techs and investments. For example, PartyNite took two and a half years the creation. Moreover, creating a creative platform virtual experience is challenging as it's a convergence of six tech layers. These layers are AI & Spatial Computing, Cloud platform, IoT and Haptics, Blockchain and Crypto, high-speed network system, Extended Reality (XR), and wearables.

Moreover, to experience the full potential of the Metaverse, one has to wear VR headsets such as Quest from Meta, which is expensive. Indian firms are working towards bringing Metaverse experiences to web browsers and smartphones.

 

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