MUA DAO Accelerates Web3 Metaverse Adoption with Influential Web2 Collaboration
Posted: January 5, 2024 10:20 AM Updated: January 5, 2024 10:20 AM
Correction and fact check date: January 5, 2024, 10:20 AM
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MUA DAO aims to bridge the gap between Web2 and Web3, allowing enterprises to create, operate, and manage digital assets across the Metaverse platform.
According to the report, the global metaverse market is expected to exceed $1.3 trillion by 2030 from $68.49 billion in 2022. Moreover, interest in web3 and Metaverse is rapidly increasing in various fields such as real estate, aviation, energy, consumer goods, government agencies, and banking.
However, bridging the gap between the traditional Internet (Web2) and the emerging digital world (Web3) requires the creation of a seamless infrastructure for companies to enter the metaverse.
MUA DAO aims to play a pivotal role in this transition.
“MUAverse, MUA’s metaverse middleware infrastructure, provides comprehensive solutions for enterprises to create, operate, and manage digital assets across various metaverse platforms,” Michelle Han, founder of MUA DAO, told Metaverse Post.
Key components of the platform include MUA Super Editor for easy asset creation, Cloudverse solutions for enterprise-grade metaverse growth, MUA boarding pass system, and MUAverse MetaDex for NFT trading.
Additionally, the development of the new EIP4242 standard aims to improve 3D NFT token interoperability across various metaverses and environments.
Helping traditional internet companies join the metaverse
MUA and Alibaba Cloud recently launched Cloudverse, an enterprise enablement platform for rapid metaverse deployment within MUAverse. This initiative addresses the inefficiencies and high costs of Web2 enterprises transitioning to Web3. MUA DAO acted as the official and sole Metaverse provider.
“Cloudverse will initially be deployed and run on Molecule, a metaverse platform developed and built by MUA DAO on Avalanche’s C-chain. Molecule is part of MUAverse, a decentralized Metaverse platform that supports multiple engineering terms and blockchains developed and operated by MUA,” Michelle Han of MUA DAO told Metaverse Post.
“MUAverse is equipped with an AI-based interactive engine suitable for various metaverse platforms. “MUA’s one-stop metaverse service allows enterprises to enter the metaverse quickly and efficiently at a low cost to create and deploy virtual assets and application scenarios,” he added.
Cooperation with Alibaba, Hong Kong government, and Ant Group
In September 2023, Hong Kong government agency InvestHK officially joined Cloudverse. Likewise, last November, MUA, the official supplier of Hong Kong Fintech Week 2023, created the ‘HKFTW2023’ metaverse space.
CEO Michelle Han said, “This partnership will become a global model that demonstrates the commercial value and practical application of Metaverse solutions.” “The active participation of government agencies in the Metaverse platform can increase trust and legitimacy for such technologies and potentially encourage other government agencies to explore similar partnerships. This could pave the way for the development of more customized metaverse solutions for public services, urban planning, virtual events and other government-related activities.”
Recently, MUA also collaborated with GCash, Ant Group’s leading Southeast Asia payment service, to enable real-world assets (RWA) through partnerships with over 500 popular local milk tea stores in the Philippines and promote efficient integration of on-chain and offline payments. I did. – Metaverse chain scenario.
The collaboration’s strategy also includes creating a user-friendly interface, simplifying wallet creation, and providing educational resources to make it easy for Web2 real users to manage NFTs and digital assets.
To attract thousands of Web2 users, this strategy focuses on increasing accessibility to digital assets, expanding the user base, and fostering broad participation in the Metaverse ecosystem.
Experiments in the Cryptocurrency World
According to Han, MUA’s middleware bridges the gap with a user-friendly interface and reduces technical complexity, simplifying entry into the cryptocurrency metaverse for existing companies.
“MUA’s middleware provides a bridge between traditional enterprises and the cryptocurrency metaverse, providing a familiar and user-friendly interface for these enterprises to engage with blockchain technology and digital assets,” said Michelle Han. “Simplifying the technical complexities associated with the cryptocurrency world lowers the barrier to entry for existing companies, making it more accessible to explore and adopt Metaverse solutions.”
Additionally, a streamlined integration process and comprehensive support lowers the decision bar, making it easier for companies like Alibaba to explore and adopt metaverse solutions.
“MUA’s role as a middleware provider will also include providing comprehensive support, guidance and educational resources to traditional enterprises to help them navigate the complexities of the cryptocurrency metaverse and make informed decisions about their participation in this space. “You can,” he added.
In addition to MUA’s collaboration, other exciting developments such as Polygon’s introduction of web3 wallets, Grab’s NFTs and Apots’ upcoming Lotte Group loyalty program are promoting the integration of Web2 real-world assets, signifying a growing convergence between the physical and digital worlds. do. RWA) into the Web3 ecosystem.
“All of this shows that digital assets are becoming more widely accepted and adopted in everyday consumer experiences. This trend not only improves the accessibility of digital assets to a wider audience, especially GenZ consumers, but also promotes a smoother transition to integrate digital ownership and NFT participation in various aspects of people’s lives,” said Michelle Han of Metaverse. told the Post.
As real-world assets are tokenized and integrated, they will form a dynamic, interconnected digital economy, blurring the lines between physical and virtual assets in the evolving metaverse.
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About the author
Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.