JetSynthesys acquires Metaphy Labs to bolster its Metaverse-As-A-Service
New-age digital entertainment and technology company, JetSynthesys, has announced the acquisition of Metaphy Labs – an end-to-end solution provider for brands to create their own metaverse capabilities in the Web 3.0 space. With Metaphy Labs, JetSynthesys aims to facilitate the democratization of the metaverse experience by providing ‘metaverse as a service’ (MAAS) to brands, helping them build their own virtual worlds, replete with meta commerce and a wide range of customizable immersive user experiences.
JetSynthesys is known for its advanced capabilities in AI/ML, AR/VR/XR, and with this at the helm, Metaphy Labs aims to help brands ramp up user engagement using Web 3 technology to create the same magic for the user sitting at home or anywhere in the world. Meta Commerce is slated to be a $2.5 trillion global opportunity by 2030 as per McKinsey reports.
Speaking about Metaphy Labs, Mr Rajan Navani, Founder and CEO of JetSynthesys, said, “As a digital-first company building Jetverse, JetSynthesys is best poised to accelerate the growth of Web 3.0 space and extend its advanced capabilities to help other brands enter the metaverse too. Our mission has always been to provide best-in-class services to all our clients and end-users, and we are committed to doing the same with Metaphy Labs. We are amongst the early pioneers of providing metaverse solutions in the country and are looking forward to helping brands build best-in-class user experiences. Our vision with the company is to take India to the next level of innovation and disruption within Web 3.0. We aim to partner with multiple stakeholders including public and private sector companies, industry bodies, and government stakeholders to make MAAS the most sought-after capability of the future.”
Mr Rakesh S. Co-founder & CEO, Metaphy Labs, added, “We're thrilled to join JetSynthesys and leverage its platform to further Metaphy Labs' capabilities. We are creating a product suite that would power metaverses for Indian and global brands in addition to our internal team, which offers end-to-end metaverse solutions. Our objective as JetSynthesys' Metaphy is to offer a platform ecosystem that enables brands and creators to swiftly develop and release immersive experiences with meta-commerce capabilities.”
Commenting on the development, Mr Girish Menon, Chief Strategy Officer, JetSynthesys, said, “Web 3.0 is the next phase of the internet ecosystem that will transform the future of the digital revolution. As early adopters of this in the country, JetSynthesys’ Metaphy Labs will look at building the metaverse ecosystem and also leverage the high-growth, high-opportunity area of metaverse commerce. With an initial focus on gaming, entertainment, and fashion, our vision is to help SMBs create their own end-to-end metaverse capabilities and also provide engaging experiences to audiences via live concerts, live celebrity engagements, product launches, virtual tournaments, and much more.”
The Pune-headquartered company, with offices in Europe, the UK, and the US, is backed by industry biggies like Kris Gopalakrishnan, Adar Poonawalla, Sachin Tendulkar, and the multi-billion-dollar family offices of the promoters of Thermax, Triveni Group, Yohan Poonawalla Group and DSP Group.