Triller launches “Metaverz” for live concerts and sporting events in its profitability plan by 2023.
Short-form video platform Triller has plunged into the metaverse with the launch of its own new platform, Metaverz. The company says its Metaverz provides virtual spaces where users can come together to watch live music and sporting events and interact with artists and other fans.
The first event at Metaverz will take place on October 22, with DJ Sam Feldt performing a set from the Netherlands. After the virtual performance, Feldt will head to Metaverz’s virtual nightclub in avatar form to mingle with the guests. The event is the first of 2,000 that Triller and its affiliates plan to hold over the next year, with many real-world and Metaverz components.
The Metaverz is accessible through a browser on any internet-connected device. Visitors can enjoy the virtual environments Triller built over two years, including a sports arena, beach houses and a nightclub with projection screens, laser lights and marble floors. Users can talk to each other as avatars or via live video that appears as an on-screen chat box.
“We carefully curate all of our events and experiences so people understand what they are doing,” said Christopher Taurosa, director of Metaverz. “It’s not like you’re walking around aimlessly. You can engage around an event.
The company is working to enable games in Metaverz, where players can earn digital currency. This currency can then be used to buy virtual clothes and customize their avatars or to buy tickets for events organized by Triller and its creators.
Triller recently raised $310 million from Global Emerging Markets, a Luxembourg-based private investment group, ahead of its IPO next month. Mahi de Silva, CEO of Triller, said the company is currently losing money but expects to reach profitability by 2023.
The app launched in its current form in October 2019 with an eye to its biggest rival, TikTok. Triller added new features with the acquisition of live music platform Verzuz, founded by producers Timbaland and Swizz Beatz. They also acquired combat sports brands Bare Knuckle Fighting and Fite.tv, as well as Fangage, Julius and Amplify.ai technologies, which help creators connect and monetize their fan base.