Gurugram: The concept of the Metaverse has been gaining popularity in recent years, and Mark Zuckerberg’s announcement about Facebook’s plans to build a Metaverse has further fueled the excitement. However, there is one Indian company that is already in the process of developing its own Metaverse platform – Trace Network Labs.
Founded in 2021 by Lokesh Rao and Sunil Arora, Trace Network Labs is a technology company that is focused on building a decentralized Metaverse platform that is accessible to everyone. The company is based in Gurugram, Haryana, and is working towards creating an indigenous Metaverse that can compete with the likes of Facebook and other tech giants.
What is a Metaverse?
Before we dive into Trace Network Labs and their platform, let’s first understand what a Metaverse is. A Metaverse is essentially a virtual world that is created by the convergence of the physical and digital worlds. It is a shared space where people can interact with each other, as well as with virtual objects and environments.
The concept of the Metaverse has been around for a while now, but it is only in recent years that it has gained widespread attention. With advancements in technology, it is now possible to create immersive virtual environments that can be accessed by anyone with an internet connection.
Facebook’s plans for a Metaverse
In July 2021, Mark Zuckerberg announced Facebook’s plans to create a Metaverse. According to Zuckerberg, the Metaverse will be “the successor to the mobile internet,” and it will enable people to “be present with each other in a way that transcends geography and distance.”
Facebook’s plans for a Metaverse have been met with both excitement and skepticism. While some people are excited about the possibilities that a Metaverse could offer, others are concerned about the potential privacy and security issues that could arise.
Trace Network Labs’ Metaverse platform
Trace Network Labs is also in the process of developing its own Metaverse platform. However, unlike Facebook’s Metaverse, Trace Network Labs’ platform will be decentralized and open-source. This means that anyone can use the platform to create their own virtual worlds and environments.
According to the company’s website, their Metaverse platform will be built on blockchain technology, which will ensure that the platform is secure, transparent, and tamper-proof. The platform will also use artificial intelligence and machine learning algorithms to create immersive and interactive virtual environments.
In addition to creating their own virtual worlds, users will also be able to buy, sell, and trade virtual assets on the platform. These virtual assets could include anything from virtual real estate to virtual clothing and accessories.
The company is currently in the process of building their platform, and they have not yet announced a launch date. However, they have already received a lot of interest from investors and developers who are excited about the potential of their platform.
Competing with Mark Zuckerberg’s Metaverse
It is clear that Trace Network Labs’ Metaverse platform is a direct competitor to Mark Zuckerberg’s Metaverse. While Facebook’s Metaverse will be centralized and controlled by Facebook, Trace Network Labs’ platform will be decentralized and open-source.
This means that users will have more control over their virtual environments and virtual assets. It also means that developers will be able to create their own applications and services on the platform, without having to worry about Facebook’s restrictions and guidelines.
Trace Network Labs is also positioning itself as a more privacy-focused alternative to Facebook’s Metaverse. The company’s platform will be built on blockchain technology, which means that users will be able to maintain their privacy and anonymity while using the platform.
