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Disney Star Prepares To Enter Metaverse Platform
By Laxmikant Khanvilkar
Disney Star, the Indian arm of the media giant Walt Disney Company is all set to enter metaverse platform. The company will soon launch its own metaverse called “Starverse” after having completed multiple stages of testing for the proof of concept.
The Starverse launch, which has been timed with the onset of the Indian Premier League (IPL) 2023 season, is expected to help Disney Star enhance its digital experience for sports fans.
Sanjog Gupta, the Head of Sports, Disney Star, in his interaction with the Economic Times informed that the Starverse the company’s first iteration is an immersive 3D ecosystem for the sports fan. The sports genre organically lends itself to a multi-platform, multi-modal and communal experience.
It will be the first time Disney Star will allow users at scale to enter the Starverse. It wanted to roll out the final version after testing features and understanding user behaviour in a 3D ecosystem.
It is anticipated that the metaverse will bring another dimension to user interaction. It has the potential to enrich the user experience by providing real-time user interaction in an always-on virtual environment.
The primary differentiator between Starverse and other metaverse initiatives in India thus far is that it will provide an always-on experience. Disney Star is working with multiple agencies to develop the Starverse. Three different agencies are working on the tech backend, 3D models & environments, and gamification of the experience.
Web 3.0 builds the opportunity to reshape the way the world works. Web 3.0 is built on top of the blockchain, the core technology that powers it. Web 3.0 is primarily focused on these 4 areas – DeFi (Decentralised Finance), DAO (Decentralised Autonomous Organisations), Entertainment (Metaverse, NFT Marketplace), and Infrastructure (Architecture, Security solutions). India has the massive potential to accelerate the web 3.0 economy in the world with its growing ecosystem of technology entrepreneurs, innovators, and startups.
As per KPMG, with 75000+ blockchain professionals, India ranks second among the top 10 countries for global blockchain talent availability. Further, the growth rate is pegged at 122%. Metaverse promises to be the virtual platform of the future — for interactions, collaborations, partnerships, and joint ventures – in a truly connected and intelligent next gen web 3.0.
Leading brands across food and beverage, jewellery, ecommerce, automobile, OTT platforms, broadcasters, movie production houses have started metaverse activations across global and Indian platforms. These efforts are in a nascent stage, aimed at building new avenues for consumer engagement while also enabling online commerce.
For a country like India, the next generation of Internet-enabled technologies show not only a profound promise of altering ways of interaction but also provide a glimpse of the new economy through which the older economy gets a boost in efficiency as well as user experience.
A trillion-dollar digital economy that constitutes the 20 per cent of the overall economy by 2025/26 will not only spur innovation but also act as a magnet for global industries with various opportunities emanating from India as an innovation super-house in the metaverse and web 3.0 era.
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