Jetsynthesys to invest USD 50 mn in metaverse space

Jetsynthesys, a digital entertainment and technology company, on Thursday said it will be investing USD 50 million in the metaverse space over a period of time.

The Pune-headquartered company also announced an acquisition of Metaphy Labs to bolster its Metaverse-As-A-Service (MAAS) capabilities in the Web 3.0 space.

While the cost of the acquisition was not disclosed, a company spokesperson said that the company will be investing USD 50 million in the metaverse space over a period of time. Jetsynthesys' Metaphy Labs will empower businesses to create their own end-to-end metaverse capabilities and leverage the USD 2.5 trillion global opportunities for meta commerce, as per an official statement.

Metaphy is an end-to-end solution provider for brands to create their own metaverse capabilities in the Web 3.0 space.

''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,'' its founder and chief executive Rajan Navani said.

The company aims 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, he added.

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