A ‘very ambitious’ $100m Metaverse R&D centre under construction in Melbourne

Thailand metaverse Startup Translucia Global Innovation has teamed up with Australian software development company Two Bulls and set aside an initial budget of $100 million to establish the Metaverse Research and Development Centre (MRDC) in Melbourne.

Translucia, a subsidiary of arts and entertainment company T&B Media Global, launched in October 2021 roll out Its “Translucia Metaverse” project, the first phase of investment of 283 million US dollars for virtual worlds.

Now, T&B is working with Two Bulls to establish the MRDC to allow the project to soft-launch this November.

Two Bulls founder and CEO James Kane told Cointelegraph that T&B is looking globally for partners who can help make the Translucia Metaverse project a reality

“There is an understanding that a lot of research and development is needed,” he said. “It’s a very ambitious project.”

A series of conversations between the two organizations this year made it clear that the best role for both bulls would be as an R&D hub to help build it.

“We were very early in the conversation around the innovative elements of this Metaverse project. What it would look like, what kind of experience would it be, and what kind of technology platform it would run on.”

“The center itself is really an extension of what the two cattle have already done,” Kane added.

Melbourne’s skilled local workforce and R&D tax incentives of up to 45 cents per $1 of eligible spending helped seal the deal.

“The R&D awards we received were the deciding factor in establishing such an R&D centre in Australia”

what they need to study

The project needs to explore many new areas, not only in terms of hardware and software, but also in the system’s Economics and Gamification return.Part of the project will focus on improving Energy consumption So is the New Year’s Day.

MRDC will focus on technology, create demos to get feedback from users, and create what he calls a “GDD” or game design document.

“It’s a lot bigger than that, because we’re really designing a whole world. It has to have a practical economy, it has to be properly regulated, it has to have all these different components, and that’s going to make it a A delightful place.”

related: Metaverse could be worth $5 trillion by 2030: McKinsey report

While there’s still a lot of work to be done before MRDC and the metaverse open up, Kane says there’s already been a lot of interest. He cites the example of Magnolia Quality Development Corporation, a major Thai real estate development company that has signed on to become Galaxy.

“There will be ‘galaxies’ in the metaverse, and some businesses have signed up to be galaxies in that larger metaverse […] T&B is in conversations with dozens of others and will make an announcement about it. “

Kane speaks with Decentraland and Sandbox It is Translucia Metaverse that is committed to sustainable development and has a more human vision.

Discussing some concerns about the philosophies and visions of some other unnamed metaverse, he said:

“A lot of virtual worlds revolve around profiteering and opportunism, and in this virtual world, there really is a strong central vision of putting people before coins, people before profits, and environmental concerns before profits. “

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