A ‘very ambitious’ $100M Metaverse R&D hub is being built in Melbourne

A ‘very ambitious’ $100M Metaverse R&D hub is being built in Melbourne #ambitious #100M #Metaverse #hub #built #Melbourne Welcome to JibGlobe, here is the new resources we have for you today:

Thailand-based metaverse startup Translucia Global Innovation has partnered with the Australian software development firm Two Bulls and set aside an initial budget of $100 million to build a Metaverse Research and Development Center (MRDC) in Melbourne.

Translucia is a subsidiary of art and entertainment company T&B Media Global, which in October 2021, launched its Translucia Metaverse project, with a first-stage investment of $283 million for the virtual world.

Now, T&B are partnering with Two Bulls to build the MRDC to bring the project to life with a slated soft launch for November this year.

Two Bulls Founder and CEO James Kane told Cointelegraph that T&B undertook a worldwide search for a partner that could help realize the Translucia Metaverse project.

“There was an understanding there would need to be significant research and development,” he said. “It’s a very ambitious project.”

A series of conversations between the two organizations this year resulted in the realization that Two Bulls’ best role would be as a hub for research and development (R&D) to help build it:

“We’ve been there really early on in the conversations around the innovative elements of this metaverse project. What it’s going to look like, what the experience is going to be and what sort of technology platforms it’s going to run on.”“The center itself is really an extension of what Two Bulls already does,” added Kane.

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