Since the concept of the metaverse began in the past few years, taking the Web3 world by storm with its appeal to seamlessly integrate our physical and digital lives.
Many entrepreneurs, tech enthusiasts, and users are interested in both its gaming side — with special avatars, unique player abilities, and designer costumes — as well as other use cases such as marketing. virtual retail, advertising and interactive education.
The sector has already attracted huge investments worth billions of dollars from companies like Meta, Microsoft, Apple and others. According to Bloomberg reports, the global metaverse revenue opportunity may be approaching $800 billion in 2024. Worldwide, thatRobloxthatand Minecraft from Microsoft, as well Fortnite on are some of the games generating buzz in the metaverse.
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Closer to home, Web3 startups focused on the metaverse are finding new ways to use this new technology beyond gaming and commerce elements. They work to create platforms to bridge cultural gaps, create tools for self-expression and unify intellectual property rights.
From appearances shark tank in india to collaborate with brands like and Amar Chitra KathaWeb3 startups in India are not only creating conversations but also onboarding celebrities and investors Rana Daggubati, Peyush Bansal, Anupam Mittaland so on.
Here are five Indian startups that caught the eye this year for their unique offerings and efforts to localize the metaverse for Indian consumers.
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In 2021, it was founded by Krishnan Sundararajan , a metaverse multiplayer gaming platform. Players in their avatars can visit 3D versions of famous cities, including T Nagar in Chennai, MG Road in Bengaluru, Marine Drive in Bombay, and Connaught Square in Delhi.
In a conversation with The story is translatedKrishnan said he wanted to make an India-centric play.
“I’ve played a few Web2 games, including Hitman using mumbai map, Call of Duty based in Himachal Pradesh or Unexplored in Tamil Nadu, and realized that when you add localization to a game, it turns a simple game into something magical that connects people. I wanted to make a game centered around India, its culture, its experiences, its people and so I built Loka.
Recently, ships held a K-pop metaverse concert titled ‘FloAtverse’ in Loka. The concert is a replica of Connaught Place in Delhi.
Krishnan also featured Loka in the shark tank in india and reversed the offer agreement of Anupam Mittal (Building on Shaadi.com), Aman Gupta (Co-founder of ships), and Peyush Bansal (founder and CEO of ).
Interality
Built by Farheen Ahmad and Malav Shah in 2021, a virtual machine that offers tools and protocols to build the metaverse. The startup allows brands to launch their virtual worlds.
The virtual worlds built by Interality allow users to choose from a variety of activities, including joining Web3 communities, choosing play-to-earn (P2E) games, or attending immersive live concerts and performances.
In an interview with The story is translatedFarheen said, “We are at an inflection point where computing is advancing rapidly, people are spending more time and money on games, and the internet is moving towards the metaverse. There is a huge opportunity for a layer of content and commerce to be built on top of that. As a creator myself, I realized that the tools and technology for creators to build the metaverse didn’t exist. At Interality, we started to solve this problem . Interality gives creators the stack of choice for creativity, culture, and commerce in the metaverse. »
The start is also launched GM Coffee BLRwhich teleports users to the Metaverse centered around Bengaluru.
Recently, the startup closed its funding round led by angel investors and venture capitalists, including Maninder Gulati (Global Chief Strategy Officer, ), Jaynti Kanani (Co-founder, Polygon), Alvin Tse (CEO of Xiaomi India), Sam Shergill (former CEO and founder of Sony India), Adept companiesand so on.
Built by Lokesh Rao and Sunil Arora in 2021, helps individuals plan their lifestyle in the metaverse with a human-like avatar NFT.
In the first conversation with The story falls apart Lokesh said, “Our avatar is called Buddy. We want avatars to be a copy of an individual – with the same physical characteristics – so they can move around, shop, play, and more importantly , themselves, because avatars should be the manifestation of an individual in the metaverse.
The startup is also building a technology stack that enables virtual shopping experiences in the metaverse for Buddy avatars.
The startup has various technology partners, including , bitkeeper, thatMetamaskthat, , Cere Network, Bump productionsand so on.
Built by Abinav Varma Kalidindi in 2021, built an Indian metaverse to bring stories, characters, and IPs from Indian mythology to the world. The startup is supported by Prasad Vanga and actor Rana Daggubati.
The startup collaborates with Amar Chitra Katha, Tinkle, Suresh productionetc. to bring Indian comic characters into the metaverse.
Earlier in the conversation on The story is translated Abinav said, “We work with iconic Indian IPs and brands so we can help them tell Indian stories to the world through NFTs and metaverse.”
The startup aims to work together with intellectual property owners and artists to manage their digital assets.
“India’s historical and contemporary stories can be shown to the world by partnering with intellectual property owners and giving them a long-term plan and space to show in virtual worlds. One day it may even be we will see movie premieres in the metaverse,” he added.
In 2021, Prashant Sharma and Arjun Dhurve baseda virtual reality world where people can design their avatars to enjoy themselves and live their daily lives.
In a previous conversation with The story is translated, Prashant says the Plutoverse is building a “metaverse for misfits.” “We coined the term ‘misfits’ to describe a group of people who want to live their lives on their own terms and express themselves as they are, and we built a platform where users can get on board and use virtual avatars to express. themselves. without fear of judgement,” he said.
The startup aims to help people find their own communities outside of physical boundaries. It allows users to create virtual identities in a shared universe where users not only coexist but also interact with others.
It is backed by angel investors Jaynti Kanani (Co-founder of Polygon), Sandeep Nailwal (Co-founder of Polygon), Prashant Malik (Co-founder of Apache Cassandra), and Maninder Gulati (Director of Global Strategy at OYO).