PETALING JAYA: Metaverse and virtual spaces company Virtualtech Frontier (VTF) has launched its own no-code metaverse building platform, Mitoworld, that is designed to help business create their own metaverse without the need for complex coding or significant financial investment.
Co-founder and CEO Jason Low said the platform, which is the first of its kind in the region, is able to ease businesses in achieving their digital dreams through metaverse integration.
In addition, he said, it’s a chance to create new markets, expand customer base and change the entire view of how customers engage with businesses.
“The platform is a no-code solution that simplifies the process of creating a metaverse, making it accessible to businesses of all sizes and industries. We’ve created the platform to be as beginner-friendly as possible, allowing users to create their own avatars and virtual worlds through ready-made blueprints and world-building tools.
“We’ve built a product with almost 400 metaverses created on Mitoworld …from all across South East Asia have been using (the platform) to build metaverses for themselves. The showcase is just the tip of the virtual iceberg, on what Mitoworld could achieve in months to come,” he said during the global launch of Mitoworld event in Petaling Jaya tpday.
He remarked that with the launch of the platform, the company wants to give thousands of enterprises and SME in Malaysia as well as globally, an accessible and affordable route to the nearly trillion-dollar potential of the metaverse.
VTF aims to empower global brands to tap into this growing market to connect with audiences online through a highly engaging and accessible driven template-driven metaverse-building platform.
Meanwhile, Malaysian Digital Economy Corporation (MDEC) CEO Mahadhir Aziz said that the platform is an innovative solution that can facilitate the digital transformation of the local industry.
“Mitoworld aligns with MDEC’s vision of fostering digitalisation and enhancing the competitiveness of local businesses. It is a shared responsibility to ensure that a metaverse is a place where everyone can thrive with clear standards for data privacy, security and accessibility, while also fostering innovation and encouraging the development of new, immersive experiences.
“By working together, we can help shape a metaverse that reflects our shared values, priorities and offers new opportunities for social and economic progress,” he said in a statement.
Since its inception, VTF has served players from varying industries, including social networking sites, retail and F&B, virtualising hundreds of corporate companies in the region. Envisioned to be the next unicorn from Malaysia, the company is also part of 100Soonicorns, a programme by MDEC and Penjana Kapital to help groom the next business unicorns of the country.
According to a recent report by Grand View Research Inc, the global metaverse market is projected to hit US$936.6 billion by 2030.