PUBLISHED : 30 SEP 2021 AT 04:05 , Bangkok Post
Investment of B10bn aims to bring metaverse to Thailand
T&B Media Global (Thailand) plans to invest 10 billion baht to launch the Translucia metaverse, the first imaginative virtual world in Thailand, with property developer Magnolia Quality Development Corporation (MQDC).
Through rapid technological development that unleashes limitless imagination connecting the real and digital realms, leading companies want to create virtual worlds.
T&B Media Global is a family-friendly entertainment media and innovation company with knowledge and creativity across many fields, recently buying shares of a company listed in Nasdaq.
The company launched the Translucia metaverse, the first such virtual world in Thailand. Metaverse is a term for a digital world where people can use different devices to move and communicate in a virtual environment.
Investment in the first stage of the project will reach 10 billion baht, eventually leading to an ultimate value of at least 100 billion baht, according to Dr Jwanwat Ahriyavraromp, chief executive and founder of T&B Media Global.
“The metaverse is a new global megatrend we’re now bringing to the business sector, including social development,” said Dr Jwanwat.
“I’m confident the business world will be revolutionised, becoming a magical realm where anything can be achieved and everyone is happy and well. It will allow people to build sustainable new careers. Metaverse Translucia will be a virtual world that realises all our dreams, contributing to society and business, and transforming how people experience life.
“The connection between the real and virtual worlds will unleash a new economy. A variety of innovations and advanced technologies will combine with imagination and creativity to give everyone a new experience, seamlessly connecting work, socialising, entertainment and other activities. The metaverse will be a gateway to the sustainable, high-quality society we all seek.”
Translucia’s first partner is MQDC, which plans to develop projects in the metaverse.
Thippaporn Ahriyavraromp, founder and chairwoman of the executive committee of MQDC, expressed confidence in the project.
“The metaverse will drive and transform business in every sector, from entertainment to real estate, retail and even healthcare,” she said.
“Industries and businesses will be able to use the metaverse as a tool to create new business divisions, to add market value and create solutions in all dimensions, including a good society beyond our imagination.”
MQDC is the first property developer to use Translucia. It plans to develop a city in this virtual world as it prepares to create a new entity, MQDC Metaverse, responsible for urban development and virtual real estate projects.
“MQDC Metaverse will be the world’s first real estate company to establish and develop a connection between real-world and virtual projects,” said Ms Thippaporn. “What can’t happen in the real world will take place in this virtual world. We intend to make this virtual world a beautiful one with imagination, happiness and a warm community. We can invent new experiences for customers and service users.
“Customers can own a house or condominium in both the real and the virtual worlds, with associated benefits. This will allow us to create a world of happiness, ‘sustainnovation’, and well-being in perfect harmony.”
T&B Media Global established a subsidiary, Tree Roots Entertainment Group, and a venture builder team, Wasabi Global Innovation Ventures, to develop the Translucia metaverse.