1. Startups

WIR Group Introduces Metaverse "Nusameta"

Will be fully commercial in 2023; "use case" development is carried out in stages

Technology company PT WIR Asia Tbk (IDX: WIRG) officially introduced Metaverse under the name Nusameta at the session keynote on the title Nexticorn (NXC) International Summit 2022, Wednesday (31/8).

Previously, Nusameta used the name Metaverse Indonesia. The ecosystem of products and services in the world of Nusameta will be introduced gradually.

For the initial stage, WIR Group will introduce app avatar that allows human interaction with avatar via device mobile devices. In the future, it will prepare use case others to fill Nusameta's virtual world through multi-channel, such as Virtual Reality (VR) devices.

"The Nusameta prototype will be displayed at the G20 event, but we are targeting to be able to [fully commercial] next year," said WIR Group Chief Metaverse Officer Stephen Ng WIR Group while talking to the media.

HR, content and monetization

Stephen revealed that Metaverse is a very complex, investment-intensive project, and requires long-term development. In addition, Metaverse also involves a lot of human resources (HR) and other technologies. He gave an example that South Korea needed five years and as many as 40.000 human resources to work on the Metaverse project.

"Therefore, we tried another strategy, namely building an ecosystem platform as a platform for creator tool where creators can work in it. If you rely on in-house completely, will not finish. Now this platform is in the process, next year it will slide," he explained.

Meanwhile, WIR Group will lead the content development, but there is also development that is submitted to third-party creators through a selection process. In addition, WIR Group will work with communities to universities to be involved in content development to enrich the value of Nusameta.

"There is a challenge to creative outlook, that's why we collaborate with several campuses from the stakeholders involved. Metaverse is a marathon project and has a lot of technology fields. It's difficult to find people who have the ability on Blockchain," he said.

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Stephen was reluctant to mention capital expenditures (Capex) to work on Nusameta considering this is a long-term investment, but at least the investment is prepared for the next five years. He added that the impact of investment on financial performance is expected to depend on how quickly new technologies emerge.

There are several monetization models to consider, such as advertising, sponsorships, including trading digital assets. "Regarding the issue of selling space on the Metaverse, we are careful about this. What regulations are there? available. For example, regarding the sale of land, we did not touch on that. We are a public company so we must be careful and accountable to our shareholders. We don't want the Metaverse to be a speculative platform."

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