With the Metaverse gaining traction globally, Tech Mahindra has announced the launch of TechMVerse, the company’s exclusive practice to tap the opportunities in this emerging field, becoming the first top league IT firm to do so.
With its base in Hyderabad, the new practice would also have labs in Pune as it pursues projects for its 1,200 clients in various verticals.
The firm, which started off with two projects and 100 employees working in the new practice, says it would deploy about 1,000 employees in the next few months.
Metaverse is a fast-evolving digital environment where individuals in their virtual ‘avatars’ can interact with each other. Global Metaverse revenue opportunity could be around $800 billion in 2024, the company said.
“We are going to train 1,000 of our engineers in various aspects of the Metaverse. This number will grow significantly. About half of the practitioners would be existing employees, while the rest would be fresh hires,” CP Gurnani, Managing Director and Chief Executive Officer of Tech Mahindra, said.
Immersive experiences
Making the announcement here on Monday, Gurnani said the new division would deliver interactive and immersive experiences in the Metaverse for its customers. The company simultaneously made this announcement at the Mobile World Congress 2022 being held at Barcelona in Spain.
He said the company would build business-to-business uses cases, piggybacking on its network, infrastructure capabilities and strengths in technologies like artificial intelligence (AI), blockchain, 5G, augmented reality (AR), virtual reality (VR) and quantum computing.
To start with, the company would build use cases in DealerVerse (Metaverse-based car dealership), Middlemist (NFT market place), gaming and Meta Bank (a virtual bank).
“We will offer immerseive digital and professional experience services around design, content and low code plug-and-play NFT and Blockchain platforms. Besides this, we will align the Metaverse strategy with Tech Mahindra’s digital and environmental, social and governance goals,” he said.
The firm worked with Mahindra & Mahindra to offer exclusive digital collectibles. To start with, it would offer a series of collectibles from the auto major’s brands. The collectibles will be listed, minted and offered for sale through Tech Mahindra’s NTF Marketplace platform.