
SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, on Thursday announced the launch of entertainment, social, e-commerce and lifestyle hub Akashaverse in partnership with digital solutions provider KiyaAI. As an immersive experiences platform, Akashaverse intends to transform how people experience and engage with events, e-commerce and religious tourism, the companies said in a joint statement. Akashaverse will be powered by KiyaAI’s immersive experiences platform, Bharatmeta.
What will Akashaverse do?
Through its commercial ecosystem, Akashaverse intends to provide its corporate clients real-time insights on product engagement from its customers and also enable a new innovative distribution channel.
Traditional experiences often necessitate physical presence, which could be limited by geographical, financial, health or logistical constraints, and Akashaverse plans to utilise virtual reality (VR), augmented reality (AR) and artificial intelligence (AI) technologies to transcend these barriers and make experiences more accessible and inclusive, the partners said.
“Akashaverse intends to transform the way people connect and interact with spaces and services that were previously out of reach,” said Sanjeev Mehta, Founder and CEO, Akashaverse. “Our hub is being designed to enhance engagement and interactions, and to enable users to immerse themselves in rich digital environments.”
Akashaverse to initially focus on India in three segments
The company said that Akashaverse will initially focus on India, leveraging advanced technologies—such as 360-degree imagery, VR, AR and AI—to create immersive experiences across three main segments:
- Event Booking Platforms
- Enhancing marketing
- Bookings for MCE through immersive previews of event spaces and facilities
ALSO READ: ChatGPT down? Multitudes of people unable to access chatbot, getting ‘bad gateway’ error
What is immersive experience technology?
Immersive experience technology creates a simulated environment that offers users an experience similar to that of a different physical environment, combining vision-, audio- and sensory-related simulation.
Virtual reality (VR), augmented reality (AR) and mixed reality (MR) are types of immersive experience technology.
Doonited Affiliated: Syndicate News Hunt
This report has been published as part of an auto-generated syndicated wire feed. Except for the headline, the content has not been modified or edited by Doonited