KUALA LUMPUR: Millions of Malaysians can soon tap into an innovative way to promote their businesses, via immersive virtual experiences.
The ‘C21 Metaverse Cities’ platform heralds the Web 3.0 implementation for businesses to complement their existing business models and marketing efforts.
Consortium 21 Sdn Bhd chief executive officer Cheang Lai Ann said that the virtual application would empower Malaysian businesses to an exponential level.
“We have innovated one of the first Metaverse cities worldwide, providing a new way for businesses to promote their brands and provide immersive virtual experiences.
“As excitement around this trend continues to grow, ‘C21 Metaverse Cities’ presents an opportunity for people across the globe to learn, earn, shop and socialize
“It is meant for merchants and consumers alike, with no requisition of expertise in the metaverse realm or to be well-versed in blockchain technologies,” said at the memoranda-of-collaboration (MOC) with technology partners and business communities at the EQ Kuala Lumpur in Jalan Sultan Ismail.
Present to witness the event were International Trade and Industry Senior Minister’s special adviser Afif Bahardin, Pikom Malaysia chairman Sean Seah, SME Association of Malaysia secretary-general Chin Chee Song, Labuan International Business and Financial Centre chairman Datuk Iskandar Mohd Nuli and ESG Association Malaysia president Jeff Ooi.
The MOA was signed with Malaysia Digital Chamber of Commerce, Green-X Corp, catTHIS Holdings Corp, SDS Associates, BLOCKWORQ, Peaky Technologies and AttSpace Ventures.
“This series of MOC will provide the collaboration and technology needed to develop a Metaverse with sophisticated marketing analytics and Web 3.0 technologies.
“As we’re still in the early stages of Web 3.0 and Metaverse, Consortium 21 firmly believes that the new technology will complement established models without disrupting their core fundamentals.
“The onboarding process for both consumers and merchants will first be Web 2.0-centric, with Web 3.0 technologies introduced and implemented in phases so that the experience is positive from the start,” she said.
She noted that there was pain-of-change in adapting to the metaverse platform.
“The pain-of-change is something that all businesses must deal with at some point in their journey.
“We know this because we have been through it ourselves.
“We have seen how it can be difficult for business owners to adapt to changes in their industry and how they can sometimes lose customers in the process.
“For these reasons, we created a metaverse platform that does not require you to have expertise in it, or to be well-versed in blockchain technologies.
“As a community, we educate and grow together with our merchants and consumers,” Lai Ann said.
At the event, ‘C21 Metaverse Cities’ merchants and partners were provided with a ‘C21 Premium Pass NFT (non-fungible token)’ digital goodies in an effort to drive a paperless society and increase encouragement towards going digital.
This was aimed at contributing towards a sustainable development of society and the world.
To further push forward innovation, Consortium 21 has created a ‘World Halal City’ metaverse.
“We have already gathered tremendous support from major industry players, including corporations and syariah-compliant financial platforms.
“This halal platform promises to be a valuable tool to enable small-and-medium enterprises to scale their businesses and help them reach global expansion,” said Lai Ann.
She explained that over the past 20 years, Web 1.0’s read-only webpages had been replaced by Web 2.0’s interactivity, social connectivity and user-generated content.
“Web 2.0 allowed users to post content and get it seen by millions of people within seconds, no matter where they are in the world.
“Mobile Internet and social networks had driven Web 2.0 to exponential growth because of the many benefits they offer consumers.
“People are now able to access the web on the go, research products and follow brands at their leisure.
“It has also allowed businesses to stay connected with their customers, in turn allowing them to stay ahead in today’s competitive market,” Lai Ann said.
She added that Google, WhatsApp, Facebook, TikTok, Airbnb, Grab and YouTube were just some of the big names that have found success by leveraging Web 2.0 technology.
“Web 3.0 is the next phase of evolution for the Internet and could potentially be as disruptive to society as Web 2.0 was.
“Web 3.0 is focused on a few principles – interoperability, transparency of information, content and social interaction that is immersive for the user.
“We aim to empower businesses by introducing the underlying technologies of Web 3.0 to businesses, as well as facilitating the transition into the metaverse and Web 3.0,” Lai Ann said.
As an advertising and marketing technology company, Consortium 21 deals with innovative strategies to take on emerging trends.
Established as a directory publisher before the Internet era, Consortium 21 has ridden on the Web 2.0 trend and successfully operates its own business matchmaking portal such as MyMedicNews.com, which is relevant for Malaysia’s Medical Device Industry.
“As new markets shift and millennials become an increasingly large segment, metaverse is developed to effectively engage with this booming group.
“Consortium 21 also specialises in blockchain solutions, such as a NFT marketplace, cryptocurrency wallet, tamper-proof and transparent supply-chain solutions for enterprises, and decentralized e-commerce for enhanced transparency over transactions processed in e-commerce,” she said.
Article source: https://www.nst.com.my/news/nation/2022/06/801362/empowering-businesses-metaverse-way
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