Australia to host US$100m Metaverse R&D Center
19 July 2022
Australian creative technologies business Two Bulls and Thailand’s Translucia Global Innovation are developing a Metaverse R&D Center in Australia.
Located in Melbourne, Victoria, the US$100 million centre will be one of the largest in the world when operational.
Developing a new interactive world
The metaverse is the virtual manifestation of the internet. It is a social platform that combines aspects from online gaming, virtual reality, augmented reality, social media and cryptocurrencies. These elements make the virtual experience very close to reality.
The Metaverse R&D Center will research new technologies to connect the real and virtual worlds. It will drive the development of ‘Translucia Metaverse’ – a world where people can move seamlessly between the real and the virtual realms. Thai real estate developer MQDC is currently working with Accenture to develop a feature-rich metaverse within the Translucia Metaverse.
Two Bulls will use its expertise in gamification design, innovative education and entertainment technology to develop and manage the R&D Center. It will gather data and study metaverse user behaviour. Other partners in the project include:
- Australian blockchain solutions provider Pellar Technology, who will develop cryptocurrencies and various digital assets
- ITEC Entertainment, who will invent themes and components using expertise gained on work for Disneyland fun parks around the world.
‘Translucia is delighted to found the Metaverse R&D Center to develop the Translucia metaverse and gather the world’s top experts in metaverse development,’ says Dr Jwanwat Ahriyavraromp, Founder and CEO of T&B Media Global and Translucia. ‘The experience and expertise of our partners are vital to bringing dreams to life.’
James Kane, CEO of Two Bulls, says the Metaverse R&D Center is a unique Thai-Australian collaboration for a new type of pioneering metaverse initiative.
‘I think the Metaverse R&D Center will be a great way to attract metaverse visionaries,’ he says. ‘It will help Translucia fulfill its incredible vision and benefit the world. It will introduce people to the concepts of the Translucia metaverse with its fresh perspective, unlike any other metaverse we have seen.’
The Australian Government supports the Two Bulls-Translucia partnership.
How Austrade helped
Two Bulls participated in a Victorian Government Digital Technologies business mission to Thailand in 2018. It connected with Translucia as a result of the trip. Both companies had meetings and workshops before the pandemic and continued to engage during the pandemic.
Austrade also worked with the Department of Foreign Affairs and Trade and the Victorian Government to profile Two Bulls as a key Australian technology provider for the Thai business community.
For more information on digital tech opportunities in Thailand, contact Pannalak, Business Development Manager, Austrade Bangkok.
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