Virtual Banks, Digital Humans, Social Chat Spaces — Inside TCS’ Metaverse Game Plan

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Metaverse is the new buzzword in the technology world globally, and IT companies seem to be leading the way. IT services major Tata Consultancy Services (TCS) has already started working on several metaverse projects including a “virtual bank” for retail transaction and a non-fungible token (NFT) marketplace using its own blockchain solution, a senior company executive told BusinessLine.

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Sanchit Vir Gogia, Chief Analyst & CEO, Greyhound Research believes metaverse will see a phased evolution similar to web in 1.0, 2.0 or 3.0 versions. And in its initial 1.0 phase, IT services majors will most likely lead the way. Rightly so, recently Infosys launched its dedicated metaverse foundry, and Tech Mahindra has TechMVerse apart from TCS’ Avapresence.

“IT companies were already offering 5G, blockchain, IoT, AI, experience re-designing and digital twins to name a few, as isolated solutions in a centralised architecture. Now they will bring these same services under one single solution, architected and distributed in a decentralised manner and that in itself will become Metaverse 1.0,” Gogia told BusinessLine.

Hindu Business Line

<strong>Analyst: Sanchit Vir Gogia</strong>
Analyst: Sanchit Vir Gogia

Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Digital & Technology Research & Advisory firm.

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