$100M Metaverse Research Center Set to Open in Australia
A $100 million Metaverse Research and Development Centre (MRDC) will be built in Melbourne, Australia as a collaboration between local software developer Two Bulls and Thai metaverse startup Translucia Global Innovation. The MRDC is set to soft launch in November during a virtual expo and will support a range of metaverse-related projects from smaller companies partnering with the founding organizations.
Metaverse Research Investment
Translucia is part of entertainment conglomarate T&B Media Global, which has begun investing heavily in the metaverse as a future area of involvement. The corporation began the Translucia Metaverse project last Octorber with $283 million in investment funding. The collaboration with Two Bulls aims to translate that money into tangible metaverse products and platforms. Two Bulls will help run the actual set up and management of the MRDC, and apply its analytics software to learn more about user behavior and what draws people to explaore the metaverse. The MRDC will cover new research in hardware and software for the metaverse, including ways to conserve energy whileexploring the virtual worlds. The work will exten to with how to best employ the technology for econominc and gamification purposes as well.
“I think the Metaverse R&D Centre will be a great way to attract metaverse visionaries, helping Translucia fulfill its incredible vision and benefiting the world, introducing people to the concepts of the Translucia metaverse with its fresh perspective,” Two Bulls CEO James Kane said in a statement. “We’ve been there early on in the conversations around the innovative elements of this metaverse project. What it’s going to look like, what the experience will be and what sort of technology platforms it will run on. The center itself is really an extension of what Two Bulls already does.”
The new research center is part of the expanding trend for metaverse deeloplers to lok at the bigger picture generated as the technology becomes more popular. For instance, 36 metaverse-connected firms and organizations, including Meta, Nvidia, Epic Games, and Microsoft, have put together a new group to encourage interoperability and open technical agreement called the Metaverse Standards Forum. The new geoup hopes to lay out universal definiteions for terms like metaverse and Web3 and eventually make it easier for for developers to create projects that can work on mulitple platforms. Standards developing organization (SDO) The Khronos Group is the official host of the Forum for that reason. Despite the headline names in the new group, there’s plenty of space for the MRDC to come up with competing or complementary ideas and technology that would be incorporated across the globe, especially with the sponsorship of deep-pocketed supporter T&B Media Global.