Over the recent years, many global technology companies have begun exploring and building a metaverse, which many believe would be the next evolution of the internet, a world where people can live, work, play and relax in a three-dimensional virtual reality that they can experience from the comfort of their own homes.
Although these metaverse development efforts are largely coming from tech giants in the West, it does not stop two Thai companies, T&B Media Global and MQDC from embarking on their ambitious metaverse journey.
Going on Full Steam
Since Bangkok-based entertainment studio T&B Media Global announced its Translucia metaverse project in October 2021, the company has made significant progress in its development, and has tied-up with many metaverse ecosystem players globally to help build Translucia, including New Delhi-based 3D modeling and rendering specialist Sunovatech, Switzerland-based digital asset bank Sygnum and Chinese creative company Black Flame. Translucia has also established a Research & Development Center in Melbourne, Australia to ensure it always has the most cutting-edge Web 3 technologies to incorporate into the project.
T&B Media Global Group Deputy CEO Bhak Tanta-Nanta says “many more global companies are expected to join Translucia this year” and adds that the company has some “really exciting and amazing events planned for 2023,” including the official launch of the Translucia website in the first quarter. Users can also expect to have a taste of the Translucia virtual experience—but in the real world—by the end of the year.
“We are moving full steam ahead in terms of building the world and narrative of Translucia,” Tanta-Nanta says.
Infinite Universe of Interconnected Metaverses
Imagine needing to have separate devices for WhatsApp, LINE, Facebook and any other popular apps available in our smartphones today—the experience would be horrible.
Like how one is able to use multiple apps within a mobile device, the Translucia metaverse works similarly: by enabling users to have interconnectivity to other metaverses from its own metaverse, Tanta-Nanta says.
“Essentially, Translucia is an infinite universe of interconnected metaverses. Inside the Translucia metaverse itself, we will build various worlds within and it is a never-ending process. Being a platform designed to provide interconnectivity to other metaverses is our aspiration to ensure a seamless experience for our users in the metaverse,” says Tanta-Nanta.
He says the company is currently evaluating various economic and tokenomics models for Translucia to ensure that businesses and people are able to benefit fairly, and securely, from participating in the economy of Translucia.
“We hope to launch the first phase of Translucia in 2025,” he says.
Metaverse for Good
Unlike other metaverses that may only allow users to work, live, relax and play, Tanta-Nanta says Translucia aims to serve a bigger purpose.
“Our goal is to build a metaverse for good—one that can reduce inequality, fight depression, improve the overall sense of wellness for our users and increase humanity by reconnecting people to values that make us human,” he says.
He adds that one of the reasons Translucia was able to attract various global companies into its metaverse project is because they share the same values and mindset of building a metaverse for good. “Our secret sauce is our purpose. Translucia is designed with positive impact in mind and companies that share these same values are easily aligned,” he says.
Early Supporter
One of the earliest supporters of Translucia metaverse is Bangkok-based MQDC, one of the leading property developers in Thailand. In September 2021, MQDC announced that it will be building its own metaverse called Idyllias within the Translucia metaverse.
Less than a year later, it announced that it has collaborated with global consultancy firm Accenture to develop the metaverse. “We are working very closely with Accenture to define the right and robust business model for our metaverse project. We need to make sure that everything we offer to our users will have a unique value proposition,” MQDC Metaverse Project Director Parut Penpayap says.
Just like its partner Translucia, MQDC is also moving at a fast pace. Penpayap says the company’s recent brand reveal in early February will be followed by various activities to create awareness of its metaverse. It also plans to officially launch its metaverse in 2025.
“We are going to keep the momentum going by unfolding the tangible experiences that people could encounter through the metaverse,” Penpayap says.
Transforming MQDC into a Digital Company
Penpayap says its metaverse initiative marks the “next chapter for MQDC.” He adds, “We see the Idyllias as a digital transformation initiative that could help us scale the business to the global level.”
He shares that its metaverse initiative comes in a three-prong strategy. First, is to provide virtual experiences as premium offerings to existing and future customers of MQDC. Second, is to develop virtual realms to attract users by offering a combination of virtual assets and experiences. Lastly, is to provide its customers a hybrid and seamless experience whether they are onsite at MQDC’s project sites, or online via the MQDC metaverse.
Importance of Interoperability
Penpayap adds that one of the main reasons MQDC decided to build its metaverse on the Translucia metaverse is the latter’s capability in interoperability. He says that with interoperability, users will be able to have a seamless experience.
“I see interoperability playing a key role in two aspects. First, is that users can make transactions within the MQDC metaverse, as well as other metaverses within the Translucia metaverse, using the same digital assets or tokens.
“The other aspect of interoperability is about the way that we could bridge the interconnection of the reward system between the physical world and the virtual worlds,” he says.
For All Well-Being
More importantly, Penpayap says the MQDC metaverse will continue to practice MQDC Group’s philosophy of “For All Well-Being,” whereby every decision it makes must contribute positively to society and the environment, and help overcome global and local pain points.
“Together with Translucia, we will be deploying and utilizing emerging technologies like artificial intelligence and blockchain to deliver the ‘For All Well-Being’ experiences to people around the world,” he says.
Without diving into the specific details, he shares that these technologies, when integrated with internet-connected devices, can help play a significant role in providing future living solutions for people both in the physical and virtual worlds.
“Basically, our aim for the MQDC metaverse is not just about improving the quality of life of our users, but also about taking good care of the planet and the world of biodiversity,” Penpayap says.
