Translucia ties up with Indian XR firm to build $3 billion interconnected metaverse

Thailand-based T&B Media Global company Translucia has announced a partnership with Delhi and UK-based extended reality (XR) company Sunovatetch India to build an interconnected metaverse platform valued at $3 billion.

Sunovatech will use its capabilities in 3D modeling and rendering and use the game development platform Unreal Engine to build 3D assets, environments, and modules for Translucia’s metaverse.

Expected to be unveiled next year, Translucia’s metaverse platform is being built in a way so it can be integrated with other metaverses. It will have shared infrastructure, hardware, and software.

In addition to Sunovatech, Translucia has also partnered with digital asset bank Sygnum, Chinese animation company Black Flame and Australian company Two Bulls for the metaverse platform. In June, Translucia announced that it is investing $100 million to set up a metaverse R&D Centre in Melbourne in partnership with Two Bulls, which will build and manage the centre.

“Partnering with global experts would enable Translucia to perfectly integrate with other metaverses. Sunovatech’s contribution is critical as the talent from India will bring in quality, speed of production, and cost efficiency,” Jwanwat Ahriyavraromp, founder and chief executive officer of T&B Media Global, said in a statement.

Rishi Ahuja, founder of Sunovatech said he is excited to be involved in this “unique and extensive” project. “We will bring in production speed, finest processes of the Metaverse with harmonized international standards and a managed production base in India,” he added.

Facebook parent Meta is also building a metaverse platform and will invest $10 billion to build it. Several brands have also announced product launches in the metaverse. 

According to a June report by consultancy firm Mckinsey & Company, metaverse may generate up to $5 trillion in economic value by 2030 in both consumer and enterprise segments.