Opinion Business
January 05, 2024

MUA DAO Accelerates Web3 Metaverse Adoption with Impactful Web2 Collaborations

MUA DAO Accelerates Web3 Metaverse Adoption with Impactful Web2 Collaborations

The global metaverse market is estimated to surpass around USD 1.3 trillion by 2030, rising from USD 68.49 billion in 2022, as per a report. Moreover, there is a surge in interest in web3 and the metaverse across various sectors, including real estate, aviation, energy, consumer goods, government bodies and banks.

However, bridging the gap between the traditional internet (Web2) and the emerging digital universe (Web3) necessitates the establishment of a seamless infrastructure enabling businesses to enter the Metaverse.

MUA DAO aims to play a pivotal role in this transition.

“MUA’s Metaverse Middleware Infrastructure – MUAverse – offers a comprehensive solution for enterprises to create, operate, and manage digital assets across various Metaverse platforms,” Michelle Han, Founder of MUA DAO told Metaverse Post.

The platform’s key components include MUA Super Editor for easy asset creation, Cloudverse Solution for enterprise-grade Metaverse growth, MUA Boarding Pass System and MUAverse MetaDex for NFT trading.

Additionally, the development of the new EIP4242 standard aims to enhance 3D NFT token interoperability across different metaverses and environments.

Helping Traditional Internet Companies Join the Metaverse

MUA and Alibaba Cloud recently launched Cloudverse, an enterprise-empowering platform for rapid metaverse deployment within MUAverse. The initiative addresses the inefficiencies and high costs associated with Web2 enterprises transitioning to Web3. MUA DAO served as the official and sole metaverse supplier.

“Cloudverse will initially be deployed and operated on Molecule, a metaverse platform developed and built by MUA DAO on Avalanche’s C-chain. Molecule is part of MUAverse, a decentralized metaverse platform that supports multiple engineering conditions and blockchains, developed and operated by MUA,” MUA DAO’s Michelle Han told Metaverse Post.

“MUAverse is equipped with an AI-driven interactive engine suitable for multiple metaverse platforms. With MUA’s one-stop metaverse services, enterprises can enter the metaverse quickly and efficiently at a lower cost, creating and distributing virtual assets and application scenarios,” she added.

On Collaborations with Alibaba, Hong Kong Government and Ant Group

In September 2023, the Hong Kong government agency InvestHK officially joined Cloudverse. Likewise in November, as the official supplier for the 2023 Hong Kong FinTech Week, MUA created the “HKFTW2023” metaverse space.

“The partnership serves as a global model, showcasing the commercial value and practical applications of metaverse solutions,” said Michelle Han. “By having a government agency actively involved in a metaverse platform, could lead to increased trust and legitimacy for such technologies, potentially encouraging other government entities to explore similar partnerships. This could pave the way for the development of more tailored metaverse solutions for public services, urban planning, virtual events, and other government-related activities.”

Recently, MUA also entered a collaboration with Ant Group’s leading Southeast Asian payment service, GCash, to enable Real World Assets (RWA) through partnerships with over 500 renowned local milk tea shops in the Philippines, promoting efficient integration of on-chain payments and off-chain scenarios in the metaverse.

Additionally, the collaboration’s strategy involves creating a user-friendly interface, simplifying wallet creation, and offering educational resources to ease Web2 real users into NFTs and digital asset management.

To attract thousands of Web2 users, the strategy focuses on making digital assets accessible, expanding the user base, and fostering widespread participation in the metaverse ecosystem.

Experiments With the Crypto World

According to Han, MUA’s middleware simplifies entry for traditional companies into the crypto metaverse by bridging the gap with a user-friendly interface and reducing technical complexities.

“MUA’s middleware provides a bridge between traditional companies and the crypto metaverse, offering a familiar and user-friendly interface for these companies to engage with blockchain technology and digital assets,” Michelle Han explained. “This simplification of the technical complexities associated with the crypto world can lower the barriers to entry for traditional companies, making it more accessible for them to explore and adopt metaverse solutions.”

Additionally, the streamlined integration process and comprehensive support lower decision-making thresholds, making it easier for companies like Alibaba to explore and adopt metaverse solutions.

“MUA’s role as a middleware provider may also involve offering comprehensive support, guidance, and educational resources to traditional companies, helping them navigate the intricacies of the crypto metaverse and make informed decisions about their involvement in this space,” she added.

Beyond MUA’s collaboration, other exciting developments such as Polygon‘s introduction of web3 wallets and NFTs on Grab and Apots’ upcoming loyalty program with Lotte Group, signifies a growing convergence between the physical and digital worlds, as they facilitate the integration of Web2 Real World Assets (RWA) into the Web3 ecosystem.

“All this demonstrates a broader acceptance and adoption of digital assets in everyday consumer experiences. This trend not only enhances the accessibility of digital assets to a wider audience, especially GenZ consumers but also fosters a more seamless transition towards incorporating digital ownership and engagement with NFTs in various aspects of people’s lives,” Michelle Han told Metaverse Post.

As real-world assets become tokenized and integrated, they shape a dynamic and interconnected digital economy, blurring the lines between physical and virtual assets in the evolving metaverse.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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