The Department of Telecommunications (DoT) has embarked on a pioneering journey with the introduction of the ‘Sangam: Digital Twin‘ initiative, poised to revolutionise infrastructure planning and design in India. This visionary undertaking invites expressions of interest from a diverse array of stakeholders, ranging from industry leaders and startups to academia and innovators.
Anchored in Digital Twin technology, Sangam represents a paradigm shift in infrastructure development, harnessing the power of virtual replicas to optimise planning processes and drive transformative outcomes. At its core, Sangam: Digital Twin represents a convergence of technology, collaboration, and innovation, aimed at reshaping the infrastructure landscape in India. The initiative is structured in two distinct stages, each designed to unlock creative potential and pave the way for practical implementation. The exploratory phase sets the stage for visionary thinking and ideation, while the subsequent demonstration phase focuses on tangible use cases, laying the groundwork for scalable solutions. Source: Open Gov Asia
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Zetrix, a layer-1 public blockchain platform owned by MY E.G. Services Berhad (MYEG), and Web3Labs Hong Kong, a Web3 development and investment powerhouse, have on Monday launched the Zetrix Global Accelerator Program to incubate and nurture promising Web3 startups from all over the world with ecosystem support from Hong Kong’s progressive Virtual Asset (VA) ecosystem.
The program will open for applications in early March 2024, and successful applicants will be announced during the 2024 Hong Kong Web3 Festival, scheduled for 6 to 9 April, 2024, MYEG said in a statement. With the objective of identifying the most promising ventures, the program aims to admit up to 10 startups. These chosen projects will have the opportunity to leverage the Zetrix platform and be matched with government or enterprise stakeholders to build and deploy their innovative applications. The six-month accelerator seeks projects that demonstrate evidence of product-market maturity and possess an innovative and clearly defined development pipeline that ideally can supplement Hong Kong’s virtual asset roadmap. Source: Technode Global The DL family office group in Hong Kong is exploring the development of its own metaverse to enhance its forthcoming online investment service, which aims to cater to the mass affluent market through the use of artificial intelligence (AI).
This initiative is part of the company's transformation of its asset management branch into the DL Digital Family Office, which intends to offer wealth management services featuring an AI-powered relationship manager. This plan was unveiled in a series of updates last year. The proposed metaverse by DL is envisioned as a collaborative space for its affluent clients, including business owners, to exchange insights and investment strategies effectively with the aid of AI technology. Wei Hao Kiow, the vice chairman of DL Digital FO, highlighted the potential for this virtual environment to facilitate knowledge sharing among users. Source: Hubbis The metaverse needs to become a "rich, fulfilling and beautiful" place to be, said Serontonin CEO Amanda Cassett—and luxury brands are well-placed to make that happen.
Speaking on a panel discussion at Decrypt and Rug Radio's R HAUS event in Paris, Cassett said that the "parents" of the Web3 industry were technology and finance. "What got us here won't get us there," she said, referring to Web3's predecessors, "and luxury and fashion has been making our industry beautiful." The reason that Meta's metaverse has yet to gain traction, she said, is that, "It doesn't look good. It's not sensory rich, it's not lush and textured." After renaming itself in late 2021 to reflect its keen interest in building the metaverse, the Silicon Valley company saw a lukewarm reception for its offering. By 2023, it began to pivot towards artificial intelligence and augmented reality. "What I'm excited about are the people that are interested in the intersection of fashion, luxury and Web3 coming in and creating experiences that are not only digital, but rich and fulfilling and beautiful," Cassett added. Web3 also provides an opportunity for luxury brands to forge deeper connections with their consumers, through crypto wallet analytics, said Absolute Labs CEO Samir Addamine. Once a brand has identified customers' wallets, "you look at their buying power, you look at their portfolio, you get all of that," he said. "And then you evaluate an addressable market." Source: Decrypt In a world where the digital frontier is ever-expanding, Startale Labs, a fledgling Singapore-based web3 firm, emerges as a beacon of innovation and promise. With a fresh infusion of $3.5 million in an extended seed round from UOB Venture Management and Samsung's CVC arm, Samsung Next, this start-up's total seed funding escalates to an impressive $7 million. This milestone follows a prior investment of $3.5 million from Sony Network Communications in June of the previous year, mere months after the company's establishment in January 2023.
Under the leadership of CEO Sota Watanabe, Startale Labs is on a mission to harness the power of blockchain technology to foster transparency and inclusivity across various sectors. With the recent capital injection, the firm is poised to hire top-tier talent and spearhead the development of cutting-edge web3 products. Watanabe underscores the pivotal role that strategic partnerships with leading Asian enterprises like Sony, Samsung, and UOB Venture Management play in broadening the firm’s horizons and potential for impact. Source: BNN Breaking In the heart of Southeast Asia, a new partnership between Singapore-based Farquhar VC and TZ APAC, a leading Tezos blockchain incubator, is set to redefine the landscape of the gaming industry. This collaboration not only signifies Farquhar VC's strategic move into the Web3 space but also marks a pivotal moment for blockchain gaming development in Asia. With this venture, both entities are embarking on a mission to incubate Web3 games on the Tezos blockchain, promising a fusion of innovation, technology, and gaming that could very well shape the future of digital entertainment in the region.
The gaming industry has long been a bastion of innovation and creativity, yet the integration of blockchain technology introduces a new layer of economic potential. Tokens such as XAI, BEAM, MAVIA, and PRIME are not merely digital assets; they represent the burgeoning economic ecosystems within the gaming world. These tokens, by virtue of their market caps and performance, underscore the growing symbiosis between the gaming sector and crypto finance. This synergy is further enhanced by the integration of Non-Fungible Tokens (NFTs) and virtual reality, creating immersive experiences that are financially lucrative and technologically advanced. Source: BNN Breaking The Royal Government of Bhutan launched a metaverse platform named Bhutanverse. This will be a virtual space will have computer generated environment for the global users to experience Bhutan in the virtual world. The metaverse will create country’s culture, history, and philosophy, which will be available to the users in the comfort of their homes. It will incorporate Bhutanese motifs, art and architecture. Additionally, a creative space was also developed to feature interactive quests where metaverse avatars can play mini-games based on captivating storylines centred around Bhutan’s history and folklore.
The initiative was launched to mark the celebration of the 44th anniversary of the birth of Bhutan King. Druk Holding and Investments (DHI), the commercial arm of the Royal Government of Bhutan, officially launched the Bhutanverse in collaboration with Smobler, a Singapore based Metaverse architecture agency along with Sandbox, a leading decentralised virtual gaming world. The initiative was unveiled at the FAB23 Bhutan Conference in Thimphu in July 2023. The CEO of DHI, Ujjwal Deep Dahal, said “Bhutanverse is a hub for Web3 innovation, which is set to unite global and Bhutanese artists, developers, architects, and all passionate innovators. Serving as a gateway for worldwide audiences to connect with Bhutan's rich natural and cultural heritage, it provides a platform for all of us to harness and explore the vast possibilities of Web3 technologies. We look forward to creating this possibility together.” Source: Education Times In a strategic move that underscores the growing interest and confidence in the digital asset and NFT market, V3V Ventures, based in Singapore, has announced its acquisition of the renowned crypto news outlet Metaverse.sg. The deal, valued at $3 million, highlights the platform’s significant contribution to the crypto space, particularly in Singapore and the broader Asian market. Metaverse.sg has carved out a niche for itself by offering a user-friendly dashboard that categorizes NFT projects, provides insights from industry experts, highlights the latest news, and offers comprehensive research on the evolving market.
The acquisition is particularly noteworthy given Metaverse.sg’s global ownership of the “Metaverse” trademark, a fact that adds considerable strategic value to the purchase. This move by V3V Ventures is seen not only as an investment in the platform but also as a bet on the future of the metaverse and digital assets. Source: Block Telegraph Japan's Ministry of Defense will formulate a plan as early as this spring to utilize next-generation commercial communications technology for security purposes, beginning with Japanese telecom carrier NTT's in-development IOWN platform.
IOWN, which stands for Innovative Optical and Wireless Network, is a concept for a communication network designed to support the smart cities of the future using optical communication technology. Its unique feature is the ability to transmit information without converting it into electrical signals. The Ministry of Defense envisions IOWN as an infrastructure for modern warfare, where advanced communication capabilities are essential. The ministry will be involved in development from before the trial test stage and explore ways to incorporate it into national defense. IOWN is expected to lead to improvements in so-called digital twin technology, where objects and places from the real world are reproduced in a virtual reality. The defense ministry anticipates the ability to quickly identify signs of trouble in equipment by constantly checking its status using digital twin technology and initiate repairs or replacements. Source: Nikkei Asia The Metropolitan Government of Tokyo has introduced a virtual Tokyo Metaverse on Roblox to promote the city as a tourist destination.
The interactive portal, “HELLO! TOKYO FRIENDS”, uses AR photography within the leading immersive platform Roblox to provide users with a lifelike sightseeing experience of Tokyo. “MODERN TOKYO” is a cityscape based on Tokyo’s iconic landmarks, such as Tokyo Tower, Tokyo Station, Tokyo National Museum, Odaiba Area, and more, while also hosting a “TREASURE HUNT” activity to learn more about Japan’s capital city. In a press release by the Tokyo Government, it summarises the capabilities and purpose of the app: “This world offers a variety of functions and environments for users to make friends with people living in Japan and people from all over the world, introduce Japanese culture and guide them around Tokyo, and interact with each other. Source: XR Today |