Grand Cayman-based Web3 firm Mai Labs launched its metaverse platform, ‘Mayaaverse’, in India on Wednesday, May 22. At a launch event in Delhi, the company also introduced the Lumyn XR, a virtual reality headset designed for immersive exploration of the digital world. With these products, Mai Labs is entering the fields of Artificial Intelligence, blockchain, and the metaverse.
Mai Labs is positioning itself as an early player in the extended reality (XR) ecosystem with Mayaaverse. Built on its own Zero blockchain, the platform offers virtual spaces for artists, brands, and educational institutes to engage with their communities, particularly younger consumers.
During a demo that happened on Wednesday, the company showcased virtual retail stores, religious destinations, and venues for live performances within Mayaaverse. The platform will also allow visitors to explore ancient cities and travel through history.
MAI Labs has received backing from global investors, securing over $17.5 million with a current valuation of $250 million. They are also in the process of raising an additional $50 million at a valuation of $500 million.
Key Features of MayaaVerse:
· Immersive Virtual Reality Technology: Utilizing advanced VR technology and AI, MayaaVerse delivers photorealistic environments that seamlessly merge the digital with the physical world.
· Render Stream Technology: The Render Stream Technology allows users to experience photorealistic content without the need for high-end systems. This technology enables the streaming of high-quality virtual environments to any device equipped with basic hardware and internet connectivity, ensuring accessibility and seamless user experiences across a broad range of devices.
· MAICity: The Heart of MayaaVerse: MAICity covers a vast 100 square kilometers with 17,000 interconnected worlds. This virtual city is crafted true scale with meticulous attention to detail and realism, featuring a variety of spaces such as architectural marvels, universities, retail hubs, educational facilities, and entertainment venues.
MAICity is designed as a dynamic, user-directed environment where each experience is carefully curated, allowing users to navigate and choose their own paths of exploration. This virtual city embodies the vision of creating the next version of internet, where every interaction is an opportunity for discovery and innovation.
· Empowerment of Creators: MayaaVerse provides a platform for creators to showcase, protect, share, and monetize their digital creations, fostering global collaboration and recognition.
“Our goal is to revolutionize the creator economy by offering an innovative platform that empowers creators to develop, collaborate, and monetize their digital content in new and transformative ways using immersive technologies and AI. Given the immense potential we see, we are confident in our decision to make a significant investment in this technological arena,” stated Tapan Sangal, Lead Visionary at MAI Labs.
