Japanese Telecom Giant NTT Docomo To Invest $412 Million In Metaverse Unit
Japanese Telecom Giant NTT Docomo To Invest $412 Million In Metaverse Unit.
The largest telecom provider in Japan, NTT Docomo, has established a new division that will focus on creating a metaverse. The unit will be known as Qonoq, has 200 employees and is already up and running. It conducts research and develops hardware and software solutions for digital products that will target the Japanese carrier’s clients.
NTT Docomo Into The Metaverse
Many of the biggest companies in the world today are dabbing in metaverse projects. Companies like Sega is going to create a metaverse game, gaming company Animoca Brand is dedicated to bring games to the metaverse as well. This month, NTT Docomo, the largest wireless telecom provider in Japan with more than 80 million subscribers, made its initial foray into the metaverse industry by launching its own division.
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The division, known as Qonoq, has 200 employees already that are pushing and creating products for the metaverse. This newly created division will have a $412 million budget and will concentrate on three main areas.
The first area focuses on offering metaverse experiences through its own environment, “XR World,” as well as a location for virtual concerts dubbed “Matrix Stream,” which will be optimized for content distribution.
The “digital twin” industry, which enables clients to supplement the information about a specific site with expanded reality, is the second important sector.
The third one entails the creation of hardware that will enable immersive metaverse experiences.
Shift In Telecom Companies Investing In Metaverse
While the biggest push for the concept of the metaverse is currently being exerted by Meta, the company formerly known as Facebook, some telecom carriers have also seen the value of integrating this kind of service into their portfolios. Telefonica, one of the biggest Spain-based carriers, has also partnered with Meta to establish its own Metaverse hub in Spain, and with Qualcomm in order to produce metaverse experiences for its customers.
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South Korean carrier, SK Telecom, has already developed its own metaverse platform, named Ifland, and it is now in the process of revamping its platform to open it to European users through a partnership with Deutsche Telekom.
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