Oct 17, 2012 (Reuters) – Triller Inc, a short-video platform, is the latest company in the metaverse to launch Metaverz Monday.
Triller stated that Metaverz offers virtual spaces for users to interact with artists and others, as well as live music and sporting events like the Bare Knuckle Fighting Championship and the Triller Fight Club.
On Oct. 22, DJ Sam Feldt will perform an electronic set in the Netherlands. Then, he’ll drop into Metaverz’s virtual nightclub to meet guests. This virtual performance is just one of the 2,000 events Triller’s subsidiaries will host over the next year. The majority of these events will take place in Metaverz.
Christopher Taurosa, Head of Metaverz says: “We carefully curate all our events and experience so people understand what we’re doing.” “It’s not as if you just wander aimlessly around… You actually get to interact around an event.”
Metaverz by Triller will compete against deeper-resourced competitors such as Meta Platforms Inc. According to Wall Street Journal documents obtained, Horizon Worlds has attracted just 200,000 users. It is the flagship game of Triller’s Metaverz.
Triller presented a preview of the virtual environments it has been building over the past two-plus years. These included a sports venue, beach houses, and nightclubs with laser lights, marble floors, and projection screens. A number of seating areas allow users to interact with one another via livestreaming video or avatars.
You can access the Metaverz from any internet-connected device by using a browser.
The company has partnered with Epik to develop games for its Metaverz. Digital currency, called Illr Bucks by players, can be used to purchase virtual apparel, personalize avatars, and buy tickets to Triller’s events.
The Triller video sharing app was launched in its current format in October 2019 and is looking to challenge larger rival TikTok. The acquisitions of Verzuz, a live-streaming music platform, Swizz Beatz, Timbaland, and combat sports brands Bare Knuckle Fighting & Fite.tv, as well as Fangage. Julius and Amplify.ai whose technology helps creators connect with and monetize fans, provided new content and enhanced features for the platform.
Triller raised $310 million recently from Global Emerging Markets in Luxembourg, an investment group that is based in Luxembourg. This was in anticipation of going public next month.
Mahi de Silva, CEO of Triller, stated that the company is currently losing money but will be profitable by 2023.
Sony Music Entertainment is one of the biggest music companies in the United States. Triller filed a lawsuit in August against Triller, seeking millions in damages. Triller was suing Triller after the video-sharing platform allegedly stopped paying licensing fees. De Silva called the lawsuit a tactic in licensing negotiations.
The Washington Post also reported that Black influencers were recruited to the platform last year with promises of $4,000 per monthly. However, these payments have been inconsistent and sometimes nonexistent.
“We had a few hiccups at the start of the year,” de Silva explained. “But we are 100% current.”
Reporting by Dawn Chmielewski Los Angeles; Editing and Design by Chizu Namiyama
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