IT services firm Tech Mahindra forays into Metaverse space with the launch of TechMVerse. The company aims to transform customer experience by delivering interactive and immersive experiences in the Metaverse.
India-based Tech Mahindra is a multinational IT services and consulting company. Part of the Mahindra Group, Tech Mahindra is a US$5.2 billion company with 125,236 employees across 90 countries.
The new practice is intedned to transform customer experience and deliver real business outcomes, the company said in a statement.
Tech Mahindra said that it will leverage its network and infrastructure capabilities along with its foundational technological capabilities including pervasive Artificial Intelligence (AI), Blockchain, 5G, Augmented Reality (AR), Virtual Reality (VR), and Quantum Computing to build B2B use cases across sectors.
In its initial phase, Tech Mahindra said that it will leverage the opportunities presented by the Metaverse through various use cases including DealerVerse – metaverse-based car dealership, Middlemist – NFT marketplace, Meta Bank – a virtual bank, and gaming center.
It will offer immersive digital and professional experience services around design, content, as well as low code plug and play Non-Fungible Tokens (NFT) and Blockchain platforms, while also aligning the metaverse strategy with Tech Mahindra’s digital and Environmental, Social, and Governance (ESG) goals.
Further, Tech Mahindra has also collaborated with the Mahindra & Mahindra Ltd. to offer exclusive Digital Collectibles, starting with a series based on one of the most iconic brands from the latter’s stable. These collectibles will be listed, minted, and offered for sale through Tech Mahindra’s industry-leading NFT Marketplace platform.
CP Gurnani, MD & CEO, Tech Mahindra, said,
“Metaverse has the power to disrupt our reality, as well as the future, for good. At Tech Mahindra, we have always been at the forefront of 5G and our entry into the Metaverse is yet another milestone in our journey of catalyzing future readiness and disrupting and transforming customer experiences. The fundamental layers of metaverse are very well integrated within Tech Mahindra and its competencies. From infrastructure to experience, from spatial computing to now commerce, Tech Mahindra’s platform, the TechMverse would enable a seamless integration between our known expertise in 5G with our skills in AI, AR/VR and blockchain. We would be training workforce of 1000 engineers to ensure they are ready to solve complex business challenges and imagine new worlds for our customers and society.”
Metaverse is a fast-evolving digital environment where individuals can interact with each other in a 3D virtual space. Metaverse revenue opportunity is projected to reach $800 billion by 2024.
The company said that it was planning to harness the power of Metaverse to bring imagination to life and offer futuristic experiences to its customers.
According to the company, 5G network technology will form the backbone to provide enhanced experience to customers in the metaverse world.
At Mobile World Congress (MWC) this year, Tech Mahindra’s showcase, ‘Welcome to Simplicity’ reflects how the technology leader is poised to enable Communication Service Providers (CSPs) to ride this new technology wave powered by network, engineering, and experience capabilities with a shared realistic immersive simulation of the real world or other possible worlds.
Manish Vyas, President, Communications, Media & Entertainment and CEO, Network Services, said:
“Metaverse is a disruptive opportunity to unlock the next frontier of new-age digital immersive experiences. With our foray into the Metaverse, Tech Mahindra is geared to enable limitless opportunities in the virtual world by building scalable services through foundational capabilities and device engineering expertise.”
Last week, another Indian multinational IT firm Infosys launched metaverse division focused “to ease and fast-track enterprises’ adoption of the metaverse, including virtual and augmented environments, for their customers, workplace, products and operations.”