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Tech Mahindra set foot in metaverse

As of March 2022, Tech Mahindra has a market cap of $18.27 Billion. This makes Tech Mahindra the India’s 36th most valuable company by market cap, now they are all set to launch TechMVerse to drive commerce in the metaverse.

IT services firm Tech Mahindra announced the launch of TechMVerse, its Metaverse practice on Monday, which will allow its customers to create immersive experiences and transact in the Metaverse. The company would build on its 5G and infrastructure capabilities to build this platform, in partnership with hyper-scalers and start-ups.

CP Gurnani, MD & CEO, Tech Mahindra, said ,“Metaverse has the power to disrupt our reality, as well as the future, for good. At Tech Mahindra, we have always been at the forefront of 5G and our entry into the Metaverse is yet another milestone in our journey of catalysing future readiness and disrupting and transforming customer experiences. The fundamental layers of metaverse are very well integrated within Tech Mahindra and its competencies. From infrastructure to experience, from spatial computing to now commerce, Tech Mahindra’s platform, the TechMVerse would enable a seamless integration between our known expertise in 5G with our skills in AI, AR/VR and blockchain.”

In the initial phase, the company will work on various use cases like DealerVerse - metaverse-based car dealership, Middlemist - NFT marketplace, Meta Bank – a virtual bank, and gaming center. It will offer immersive digital and professional experience services around design, content, as well as low code plug and play Non-Fungible Tokens (NFT) and Blockchain platforms.

Tech Mahindra has also collaborated with Mahindra & Mahindra to launch a series of digital collectibles which will be available for sale through Tech Mahindra’s NFT Marketplace platform, it said.

TechMVerse is expected to be an extension of Tech Mahindra’s NXT.NOW framework aims to enhance human-centric experiences by investing in emerging technologies and solutions that enable digital transformation to meet the evolving needs of the customers.

Due to the investment of Meta (previously Facebook) and Microsoft metaverse industry is linked mainly to Gaming and entertainment. Still, it is speculated that it could also impact areas such as Education, Pharma, and automotive.

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Written By- Shriyansh jain

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