With the debut of a new platform dubbed Metaverz on Monday, the short-video platform Triller Inc. became the most recent business to stake its claim in the metaverse.
According to Triller, Metaverz offers users virtual areas where they can congregate to watch live sporting events like the Triller Fight Club and the Bare Knuckle Fighting Championship while interacting with musicians and other fans.
On October 22, DJ Sam Feldt of the Netherlands performs an electronic set as part of the first event before entering Metaverz’s virtual nightclub as an avatar and mingling with attendees. The virtual performance is one of 2,000 events Triller and its affiliates intend to stage over the course of the following year, the majority of which will take place in Metaverz and the real world.
According to Christopher Taurosa, CEO of Metaverz, “We’re carefully curating all our events and experiences so people understand what they’re doing.” “You get to engage around an event. It’s not like you just wander around aimlessly.”
Triller’s Metaverz will go up against rivals with more substantial financial backing, such as Meta Platforms Inc., which has invested billions of dollars in building an immersive digital environment where people can interact, play games, and work. According to materials uncovered, its flagship game, Horizon Worlds, has had trouble taking off, with only 200,000 users.
A sports arena, beach homes surrounded by rippling water and palm trees, and a nightclub with projection screens, laser lights, and marble flooring were among the virtual habitats that Triller demonstrated in a preview. Users can converse with one another in groups of seating areas using their avatars or through livestreamed video that shows up in a discussion window on the screen.
Any device with an internet connection can access The Metaverz using a browser.
To build games for its Metaverz, the business is collaborating with Epik. Illr Bucks, a type of virtual currency that players can acquire, are used to buy virtual goods, modify their avatars, and buy tickets to events put on by Triller or its developers.
Mahi de Silva, the CEO of Triller, stated that although the business is now in the red, it anticipates turning a profit by 2023.
One of the biggest music labels in the world, Sony Music Entertainment, has filed a complaint in federal district court in New York against Triller, claiming millions of dollars in damages after the video-sharing app allegedly stopped paying licencing fees on March 22. De Silva characterised the action as a negotiating gimmick for licences.
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