New Delhi,  Translucia, the metaverse developer subsidiary of T&B Media Global (Thailand), and Sunovatech India, an immersive and extended reality company, on Friday announced a series of initiatives to build a metaverse and talent ecosystem.

Translucia has partnered globally to build a comprehensive ecosystem with metaverse elements to create a virtual world worth $3 billion.

Sunovatech will act as a production hub to build 3D assets, environments and modules for the Translucia metaverse.

The collaboration, said the companies, will also bring together major businesses and startups specializing in related metaverse technologies to contribute to building a comprehensive ecosystem.

The engagement will involve businesses across verticals, including healthcare, education, art and culture, technology and real estate.

"We have partnered with potential businesses across the globe in technology infrastructure development, creativity, interactive user experience, finance and economics/tokenomics to build a $3 billion interconnected metaverse and we believe India is a perfect destination to explore talent that would help to accelerate our project," said Dr Jwanwat Ahriyavraromp, Founder and CEO of T&B Media Global and Founder of Translucia.

"Building a metaverse is a complex process and this partnership will enable the unification of experts from around all the related technologies on a single platform to make this vision a reality," Ahriyavraromp said in a statement.

Under the partnership, Translucia has agreed to provide support, cooperation and investment, holding hands to jointly develop Translucia metaverse to a global scale.

With over 20 years of experience, Sunovatech will design 3D virtual reality experiences for Translucia.

Sunovatech, which specialises in 3D modelling and rendering design, will assist in the development of 3D assets and environments for visualising by utilising its exceptional Unreal engine technology development and specialists.

"We are excited to enter this new phase of the collaboration where we will engage with the Indian ecosystem working on metaverse and other immersive technologies. At present, there are around 50-60 companies working in this space in India. Our end goal is to work together with them to use the expertise of each and every of these companies to make something which can compete on the global stage," said Rishi Ahuja, Founder of Sunovatech.

"Also, India is a house to a large talent pool for technology and with new age technologies like metaverse, AR/VR, etc. playing a huge role for the future growth of countries, we also look forward to building a strong talent ecosystem as well under this partnership. Sunovatech will be a gateway for Translucia to enter India and engage with the growing ecosystem for the metaverse here,a he explained.