Metaverse Research Centre in Melbourne has received a $100 million investment

Metaverse Research Centre in Melbourne has received a $100 million investment
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BUSINESS

Metaverse Research Centre in Melbourne has received a $100 million investment

Translucia Global Innovation, a Thai metaverse firm, has announced a collaboration with Two Bulls, an Australian software and design studio.

06/17/2022

Translucia Global Innovation, a Thai metaverse firm, has announced a collaboration with Two Bulls, an Australian software and design studio, to build the Metaverse Research and Development Centre (MRDC) in Melbourne.

The MRDC is planned to have a US$100 million initial budget and will be one of the world’s major metaverse research centers, aiming to recruit top worldwide talent and develop in the metaverse space.

Melbourne Centre Will Develop Translucia Metaverse Project

T&B Media Global, the Thai-based parent company of Translucia Global Innovation, revealed plans last year to launch the ‘Translucia’ metaverse project with many foreign partners, including Two Bulls.

The new Melbourne-based hub will contribute to the development of the Translucia metaverse while also doing research on advanced technologies to improve and support the experience and progress the broader metaverse area.

The Translucia metaverse, according to Jwanwat Ahriyavraromp, founder and CEO of T&B Media Global, will be “a world of happiness and smiles where people can live, work, enjoy business, socializing, and entertainment in new ways.”

T&B Media Global anticipates that the Translucia metaverse will go live during the company’s virtual expo in November of this year.

Metaverse R&D Centre Hopes to Attract Best Minds

Two Bulls CEO James Kane told the Bangkok Post that the new center would attract the brightest minds in the industry and develop a new kind of metaverse experience for users:

The Metaverse R&D Centre, I believe, will be an excellent approach to attract metaverse visionaries, assisting Translucia in fulfilling its tremendous vision and benefiting the world by introducing people to the principles of the Translucia metaverse from a new perspective.

Austalians have struggled to embrace the metaverse in general, with a recent poll revealing that only 44% of respondents were familiar with the technology. Despite this lack of knowledge at home, the metaverse represents a big opportunity globally — according to a report issued last month, it may account for 2.8 percent of global GDP in 10 years, or $3 trillion.

By Elah Mae Ariate Wozinga Staff

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