A digital reality that combines aspects of social media, online gaming, augmented reality, cryptocurrencies and virtual reality is how Investopedia defines “metaverse.” Forbes magazine calls it the mirror world of alternate digital realities where people work, play and socialize.
Welcome to the metaverse–a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual space. The term is used to describe Web 3.0, a new Internet era that will fundamentally change the way we interact in the digital world.
In the Philippines, a group of forward-thinking Millennials recently formed the MetaDhana Consortium led by CEO Mikhail Jon A. Peñalosa. MetaDhana is at the forefront of the metaverse ecosystem focusing on the democratization of artificial intelligence (AI), blockchain technology and game development for Filipino creators.
Peñalosa said the key to creating a true metaverse is an independent and sustainable environment that can open new paradigms in finance, productivity and storytelling through the combination of AI and blockchain.
MetaDhana CTO Michael John Peña, who also heads Sydney-based tech firm Datachain Consulting Pty. Ltd., believes that the training set of AI has become more reliable and accurate because data on the blockchain is immutable and highly valuable.
To further push this concept, MetaDhana entered into a joint venture with Ranida Games, the gaming division of Ranida Studios Inc., which is an established game development studio in the Philippines. Ranida has millions of active players globally and is slated to publish MetaDhana’s play-to-earn games.
The consortium has also partnered with top comic book publishers, creators and artists from the Philippines, the United Arab Emirates and the United States. Most notable among them is Noir Caesar Entertainment LLC owned by American basketball player Johnny O’Bryant III of the reigning NBA champion Milwaukee Bucks.
With an existing team of more than 20 artists, MetaDhana will create a series of non-fungible token art drops in partnership with multiple local writers. The production-level, quality art NFTs will have utilities such as games, comics and access to anime produced via NFT sales. The first AI-powered NFT metaverse is “The Metazoan Chronicles: Order of the Felix” with a human-created world, culture, lore and art that the consortium is launching this month.
Other MetaDhana projects using Microsoft Azure and OpenAI platforms that are set to be launched in the first half of 2022 include a play-to-earn fighting game utilizing the consortium’s proprietary engine and the MetaDhana Token–a metaverse ecosystem combining blockchain and AI technologies.
Additionally, the consortium has working relationships with Philippine talent agencies that have a combined pool of over 200 influencers. Dexter Paglinawan, a top affiliate marketer and NFT gaming influencer with 60,000 subscribers on YouTube, heads MetaDhana’s marketing team.
Through its own digital marketing agency, MetaDhana Studio has access to owned and rented social media assets like Facebook pages and groups as well as Tiktok accounts that aggregate to more than 50 million followers.
Togther with members of his all-Filipino crew with proven track records and expertise in various industries, Peñalosa envisions the consortium to be a launchpad for creators to engage audiences and monetize their work. He disclosed that their ultimate objective is to create a space where game developers, e-book readers and even gamers will earn–all empowered by this firm called MetaDhana.
Joseph Gamboa is the co-chairman of the Finex Annual Conferences for 2020-2021, the chairman of the Finex Business Columns Subcommittee and the director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror.