T&B Media seeks more investment as metaverse launch nears
Entertainment firm T&B Media Global (Thailand) is seeking more international investment for its soon-to-be launched metaverse “Translucia”, claiming it will generate 1 trillion baht in business value over the next seven years.
The company introduced Translucia as a concept in September 2021 and will launch the much-hyped platform on March 14 at the Samyan Mitrtown complex in Bangkok under the theme "infinite universe of interconnected metaverses" at an event called "The Universe of Happiness".
T&B founder and CEO Jwanwat Ahriyavraromp said Translucia would] allow his company to fully engage the virtual world.
The metaverse is the business of the future as it will seamlessly connect the real world with the digital world, Jwanwat said, adding that an unlimited number of users can use the metaverse platform at the same time and they can create a new economy.
"The project will be a significant step for T&B to use leading entertainment products, including all copyrighted work and intellectual property, to connect the two worlds in a concrete way," he said.
T&B group deputy CEO Bhak Tanta-Nanta said the launch of Translucia would shift the company’s entertainment projects into the technology of the future where everyone can participate in creating a new world.
"The metaverse platform will allow everyone to create good dreams together, live in a society and a virtual world full of happiness and good deeds," Bhak said.
Athid Nanthawaroon, executive director of T&B subsidiary Translucia, said the metaverse platform was being developed to meet the needs of both business and the public.
The platform will allow developers, investors, and businesses to create products and services, and give its users access to them.
Athid said the platform would have economic, social, and wellness uses and offer “sustainability and goodness”, adding: "The platform is designed to be accessible to users of all ages, social classes, and occupations."
The main challenge is creating a collaborative learning community between businesses and consumers so they can share virtual experiences in real life, he said.
Athid said at least 10 billion baht would be invested in the first phase of the project to build core infrastructure and develop content.
"We believe that by 2030, we will be able to create at least 1 trillion baht in business value for the metaverse industry," he said.
Translucia Chief Business Development Officer Phantabat Santimakorn said entertainment remains the significant driver for its future business.
"Translucia is a key for transforming existing content into new Web 3.0-based platforms," he said.
The main goal of the project is to create experiences that connect different business sectors – such as e-commerce and real estate – to show how the metaverse can enhance them.
Phantabat said a virtual being would be an important thing in the future as more and more people access the virtual world.
People are interested in trying out new experiences and businesses want consumer feedback to develop new products and services, he added.
"Having a platform that enables businesses to interact with customers directly will create a good experience for both businesses and consumers," he explained.
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