nChain, a world leader in Web3 and Blockchain technologies, announced that it is investing $4 million and taking a 20% equity stake in Transmira, a revolutionary metaverse platform. nChain's investment offer follows the announcement of a strategic partnership reported in February.
Led by industry leader Robert Rice, Transmira's platform bridges the physical and digital worlds, blending augmented reality (AR) and virtual reality (VR) together, using Transmira's patented technologies. These highly realistic city-scale digital twins offer unparalleled application and unprecedented immersive experiences for both brands and users.
With a focus on functionality, utility and commerce, Transmira enables brands to monetise virtual goods generating deeper user engagement and brand loyalty via virtual marketplaces. The foundational blockchain technology allows users and brands to transact and exchange value in a secure, trusted, and authenticated way.
Christen-Ager Hanssen, nChain Group CEO, said that "This is an exciting space to be in, and Trasmira is an agile, forward-thinking company for us to invest in as we diversify our portfolio. We plan to be very active in the metaverse in the very near future, and nChain has allocated extensive research and development resources to continue to shape the industry and innovate solutions."
"Partnering with nChain gives us a competitive advantage, we're one of the only companies that offer both AR and VR in one elegant solution. So together with nChain we have all the knowledge and resources to deliver a robust platform," added Robert Rice, Transmira CEO. "Working with a fellow visionary such as Christen Ager-Hanssen will allow us to enhance our capabilities and reach into global markets. This is a very thrilling phase in Transmira's journey."
Currently, the metaverse industry is estimated to be worth $13 trillion by 2030 with a market size of 5 billion users. This collaboration between nChain and Transmira aims to pioneer the Web3 transformation, enabling entire industries, brands and users to create value, utility and monetisation for the new metaverse economy.