Present in Shark Tank to create virtual B’luru, 5 Indian startups building metaverses

Since the concept of the metaverse has taken off in recent years and has taken the Web3 world by storm with its allure of seamlessly blending our physical and digital lives.

Many entrepreneurs, tech enthusiasts and users are intrigued by both the gaming side – with special avatars, unique player skills and designer costumes – as well as other use cases such as retail, virtual retail, advertising and interactive education.

The industry has already attracted massive investments worth billions of dollars from companies like Meta, Microsoft, Apple and others. According to Bloomberg Reports, Global Metaverse Revenue Opportunity May Approach $800 billion in 2024. Worldwide Robloxand Minecraft from Microsoft, as well as Fortnite from epic games are some of the games that generate buzz in the metaverse.

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Closer to home, metaverse-focused Web3 startups are finding new ways to apply this emerging technology beyond the elements of gaming and commerce. They work to create platforms to bridge cultural divides, develop a tool for self-expression and integrate intellectual property rights.

from the semblance shark tank india to partner with brands like BOOT-Lifestyle and Amar Chitra KathaIndian web3 startups not only generate conversations but also take on board celebrities and investors including Rana Daggubati, Peyush Bansal, Anupam Mittaland others.

Here are five Indian startups that have captured attention this year for their unique offerings and efforts to localize the metaverse for Indian consumers.

Loka

In 2021 Krishnan Sundararajan . founded Loka, a metaverse multiplayer gaming platform. Players in their avatar can visit 3D versions of famous cities, including: T Nagar in chenai, MG Road in Bengaluru, Marine propulsion in Bombay, and Connaught Square in Delhi.

In conversation with The story decipheredKrishnan said he wanted to make an Indian-focused game.

“I’ve played several Web2 games, including hitman with Mumbai card, Duty located in Himachal Pradesh or unexplored in Tamil Nadu, and realized that when you add localization to a game, it changes from a simple game to something magical that connects people. I wanted to create a game where India, the culture, the experiences and the people are central and that’s why I founded Loka.

Last, boat held a K-pop metaverse concert entitled ‘FloAtverse’ on Loka. The concert was a playful replica of Connaught Place in Delhi.

Krishnan also demonstrated Loka on shark tank india and broke the offer of the agreement of Anupam Mittal (Founder of Shaadi.com), Aman Gupta (Co-founder of boat), and Peyush Bansal (founder and CEO of lens card).

Interality

Founded by Farheen Ahmed and Malav Shah in 2021, Interality is a virtual engine that provides tools and protocols to build on the metaverse. The startup allows brands to launch their virtual worlds.

Virtual worlds built by Interality allow users to choose from a range of activities, including interacting with Web3 communities, opting for play-to-earn (P2E) games, or attending immersive live concerts and performances.

In conversation with The story decipheredFarheen said, “We’re at the inflection point where the computer is progressing fast, people are spending more time and money on games and the internet is evolving into the metaverse. There’s a huge opportunity to build a layer of content and commerce on top of that. As a creator, I realized that the tools and technology for creators to build in the metaverse don’t exist. At Interality, we started to solve this problem. Interality gives creators the choice for creativity, culture and commerce in the metaverse.”

The startup has also been launched GM Coffee BLRwhich teleports users to Metaverse around Bengaluru.

The startup recently closed its round of funding led by angel investors and venture capitalists, including Maninder Gulati (Global Chief Strategy Officer, oh yo), Jaynti Kanani (co-founder, polygon), Alvin Tse (CEO of Xiomi India), Sam Shergill (former CEO and founder of Sony India), Proficient companiesand others.

Founded by Lokesh Rao and Sunil Arora in 2021, Trace Network Labshelps individuals project their lifestyles into the metaverse with humanoid avatar NFTs.

In a previous conversation with The story unraveled Lokesh said, “Our avatar is called Buddy. We wanted the avatars to be a replica of an individual – with the same physical properties – so that they could move, shop, play and most importantly be themselves, because avatars should essentially be the manifestation of an individual in the metaverse.

The startup is also building a technology stack that will enable virtual shopping experiences in the Buddy avatar metaverse.

The startup has several technology partners, including: polygon, bit holder, metamask, EPNS, Cere network, Bump productionsand others.

Founded by Abinav Varma Kalidindic in 2021, Iconbuilds an Indian metaverse to bring stories, characters, and IPs from Indian mythology to the world. Booting is supported by Prasad Vanga and actor Rana Daggubati.

The startup collaborates with Amar Chitra Katha, Tinkle, Suresh productionand others to bring Indian cartoon characters into the metaverse.

Previously in conversation with The story deciphered Abinav said: “We work with iconic Indian IPs and brands so we can help them tell Indian stories to the world through NFTs and the metaverse.”

The startup wants to partner with intellectual property owners and artists to manage their digital assets.

“India’s historical and contemporary stories can be shown to the world by partnering with intellectual property owners and giving them a long-term plan and space to appear in virtual worlds. Someday we may even see movie premieres in the metaverse,” he added.

in 2021, Prashant Sharma and Arjun Dhurve basedPlutoversea virtual reality world where people can design their avatars to entertain themselves and go about their daily lives.

In a previous conversation with The story deciphered, Prashant said Plutoverse was building a “metaverse for the misfits”. “We coined the term ‘misfits’ to describe a group of people who want to live their lives on their own terms and express themselves as they are, and we’re building a platform where users can jump on board and use virtual avatars. to express oneself… without fear of being judged,” he said.

The startup aims to help people find their own communities beyond physical boundaries. It allows users to build virtual identities in a shared universe where users not only coexist but also interact with others.

It is backed by angel investors Jaynti Kanani (Co-founder of Polygon), Sandeep Nailwal (Co-founder of Polygon), Prashant Malik (Co-founder of Apache Cassandra), and Maninder Gulati (Director of Global Strategy at OYO).

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