How can we use technology to make the world a better place? That’s the burning question being asked by all those involved in developing Translucia – an upcoming platform that leverages metaverse technology to bring happiness and equality in the real world.
The metaverse is often described as the next iteration of the internet or Web3. And for Dr. Jwanwat Ahriyavraromp, CEO of Thai entertainment studioT&B Media Global& Founder ofTranslucia, being on the brink of this Web3 transformation presents the perfect opportunity to create a new platform for the greater good. Translucia is an infinite universe of interconnected metaverses, allowing for countless partners and creators to be a part of this utopian effort.
“Translucia will be driven by an engine that we envision will exchange goodness into prosperity, wellness and, ultimately, happiness,” says Dr. Jwanwat. “It’s what’s important to us, and what we believe is important to the world too.”
Goodness & Wellness
In order for global adoption to be realized, interconnectedness of the metaverse needs to be key. There needs to exist a common standard where there is synchronization both technologically and economically.
This focus on interconnectedness sets Translucia apart, says Dr. Jwanwat.
“Without this platform agnostic philosophy, the walled gardens of each metaverse will hinder adoption among the general public,” he continues. Interoperability is so integral to the vision because only through Translucia’s rapid global acceptance can its underlying philosophy spread.
“Instead of maximizing profits, we focus on maximizing benefits for all,” says Dr. Jwanwat. “In this sense, goodness is defined as being good to others, to the environment, and to ourselves. By doing so, we are able to change the definition of P&L from “Profit & Loss” to “Purpose & Legacy.”
“Goodness” on Translucia means the platform incentivises users to make specific actions that can benefit everyone, explains James Kane, CEO of Two Bulls, which is partnering with Translucia to do research for the Metaverse R&D Center in Melbourne that has an initial investment of US$100m.
“For example users can offer a share of the processing power of their device to assist with distributed research that requires large amounts of computational power,” says Kane. “And ‘wellness’ means providing systems for both exercise and mindfulness that users are rewarded for engaging with.”
While Dr. Jwanwat admits that the carbon footprint of Web3 technologies including VR engines and blockchain platforms can be high, the concept of “sustainnovation” is one of the bedrocks of the Translucia metaverse. Hence the selection of ecologically responsible partners is paramount. Furthermore, a percentage of gross profits will be given towards non-profit efforts including the Blue Carbon Society.
This unique vision of building a metaverse for good has thus far attracted six partners ranging from China to Switzerland to build the Translucia community that has been valued at over US$2.7b.
On the design side, Sunovatech will create 3D virtual reality experiences; China’s Black Flame will work on the landscapes, avatars, environments, and holistic concepts and Pellar Technology will work on infrastructure design.
Meanwhile Translucia’s financial structure will be established by the Singapore branch of Switzerland-based Sygnum — the world’s first digital asset bank — with Economics Design helping to set up the Tokenomics structure.
Understandably, with so many moving parts and such a large, idealized vision, many challenges still lie ahead.
“Being in the early days of Web3 and metaverse development, there are varying ideas as to what should and shouldn’t be included,” says Dr. Jwanwat. “There’re even different understandings for common terms associated with metaverse development. To that end, the entire industry will need to progress further and find a way to unify all the various metaverses.”
Digital Twin
While many think of the metaverse as an alternate reality existing separately to the real world, the vision for Translucia is to become a digital twin of the real world — one that compliments and has economic value in the real world too.
By joining forces with global partners, Translucia hopes to enhance life in both the real and virtual worlds and drive new business models for a brighter and more sustainable future.
“We aren’t looking to create a utopia so perfect that people will want to escape reality and hide in our metaverse,” says Dr. Jwanwat. “We want to create a bridge between the real world and the virtual world so that opportunities to realize each of our own potential can happen without the limits of the physical world.”
With Translucia looking to debut its virtual experience in the first quarter of 2023, the invitation is to unlock your mind and let your imagination run wild.
