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  • “We envision entertainment and gaming industries complementing each other in the metaverse:” BharatBox’s Karan Keswani

    “We envision entertainment and gaming industries complementing each other in the metaverse:” BharatBox’s Karan Keswani

    Mumbai: The fusion of gaming, entertainment, and the metaverse is transforming how we engage with digital content. As virtual environments become more immersive and interactive, they offer unprecedented opportunities for users to interact with their favorite entertainment franchises and brands.

    Leading this evolution is BharatBox, which pioneers the integration of Bollywood IPs and digital experiences into the metaverse. Through innovative partnerships and groundbreaking initiatives, BharatBox is redefining entertainment and gaming in India, creating a vibrant ecosystem where virtual and physical realities converge seamlessly.

    Indiantelevision.com caught up with BharatBox CEO Karan Keswani to gain insights on their inception, their collaboration with Shemaroo and integration of Bollywood IPs into the metaverse, and much more…

    Edited Excerpts:

    On the inspiration behind the inception of BharatBox and the collaboration between Brinc and Sandbox

    The inspiration behind BharatBox stems from India’s unique cultural landscape and its potential as a vast market. As the managing director of Brinc India, I recognised the opportunity to bring blockchain to the forefront of mass adoption in India.

    This collaboration between Brinc and Sandbox leverages our shared vision. In fact, India is the only country where Sandbox has formed a joint venture, highlighting the immense scope and significance of the Indian market. We have already published 13 experiences from India, onboarded over 25 partners, and collaborated with five global IP brands, establishing ourselves as Sandbox’s largest market.

    On the collaboration with Shemaroo shaping BharatBox’s integration of Bollywood IPs into the metaverse, and the unique entertainment experiences that can fans expect as a result; How do you see it reshaping the entertainment landscape in India?

    Our collaboration with Shemaroo has been instrumental in integrating eminent Bollywood IPs into the metaverse and blockchain gaming. We’re starting with exciting games based on iconic films like “Jab We Met” featuring Geet, played by Kareena Kapoor, “The Great Gambler” with Amitabh Bachchan, and “Tango Charlie.”

    But then you ask what’s the point of all this, right? So, Bollywood IPs traditionally have a shelf life limited to their movie releases, but our immersive games and experiences will keep these IPs relevant and growing. We envision the entertainment and gaming industries complementing each other, with all entertainment IPs eventually having gaming experiences in the metaverse. This will reshape the Indian entertainment landscape by blending traditional media with interactive, immersive content.

    On the technology powering BharatBox’s NFT initiatives, especially regarding Ritviz’s concert and future events

    BharatBox is pioneering fan engagement solutions for live events, starting with Ritviz’s concert. We developed a fan engagement platform that enhances brand loyalty through digital collectibles, such as VIP and Fan pit passes. These included meet-and-greet opportunities, signed merchandise, and of course, a tokenized collectible of your tickets.

    This platform streamlines user touchpoints, delivering the best event experiences while helping brands achieve their KPIs and foster deeper connections with their audience.

    The response for the product is quite positive. We are already in discussions with big brands like Kingfisher, Conde Nast, Ironman 70.3, and Hungama for future events, aiming to provide tangible value and enhanced fan experiences through NFTs.

    On the partnership with KGeN contributing to building the Indian metaverse ecosystem, and the immediate goals for Hungama World and your insights into any future collaborations in this space

    Our partnership with KGeN is pivotal in community building and user onboarding for immersive experiences and blockchain gaming. KGeN, as a land partner, has driven community participation in our quests and experiences. For Hungama World, launched last December, we achieved impressive metrics: over 33,000 visits, 22,800 unique users, and 1,358 NFTs sold. IndiGG’s quest campaigns have further amplified our reach, rewarding users for engaging with our metaverse experiences. Following this, future collaborations aim to replicate and build on this success, bringing more Bollywood IPs and brands into the metaverse, enriching the Indian digital ecosystem.

    On the main goals and vision behind the Mahabharat project in the metaverse, and the collaboration with Mythoverse facilitating this vision

    Our collaboration with Mythoverse Studios aims to bring the epic Mahabharata to life in the metaverse. The goal is to create a voxel version of the saga, featuring digital collectibles and environments inspired by the epic. This project will introduce Indian mythology to a global audience through immersive experiences, making it accessible, engaging, and rewarding.

    Mythoverse is already developing IPs in games and comics, and the first experience will be launched in the Sandbox metaverse. This initiative will allow gamers worldwide to explore and learn about Mahabharata in an interactive, engaging, and most importantly – rewarding manner.

    On some of the unique challenges and opportunities you’ve encountered while introducing Web3 and metaverse concepts to the Indian market and BharatBox addressing these challenges

    India is a rapidly growing market for digital innovation, with the metaverse market expected to grow exponentially. However, transitioning users from Web2 to Web3 poses significant challenges, particularly in simplifying the onboarding process.

    We have addressed this by integrating social logins for wallet creation, i.e., using your email address to sign up, making the process seamless.

    Educating users about the value of digital collectibles and their utility is another hurdle. We run educational campaigns to highlight the tangible benefits and potential for user-generated content in The Sandbox.

    By attaching phygital utilities to our offerings, we ensure they have real-world and digital value, enhancing user engagement and adoption.

    On BharatBox measuring the success and impact of its metaverse projects and partnerships and are there specific metrics or indicators that are particularly meaningful to the company

    Success for BharatBox is measured by user engagement, the number of experiences published, and the growth of our user base. We track metrics such as the number of users participating in our experiences, the time they spend, and their interactions with digital assets.

    Additionally, we monitor how effectively these experiences help brands achieve their KPIs and foster community engagement. The completion rates of quests, the number of NFTs sold, and user feedback are also crucial indicators.

    Our goal is to create user-friendly, engaging experiences that educate and entertain, building brand loyalty and community trust in the metaverse.

    On your vision for the Indian metaverse ecosystem in the next five to ten years, and how does BharatBox plan to contribute to its growth and development

    Our vision for the Indian metaverse ecosystem is to create a vibrant, interconnected space where digital and physical experiences converge. Over the next five to ten years, we aim to onboard more Web2 clients, facilitating their transition to Web3. By working closely with brands and IPs, we plan to develop immersive experiences that resonate with a broad audience.

    BharatBox will continue to drive innovation, creating a robust infrastructure for the Indian metaverse. Our focus will be on enhancing user engagement, fostering community growth, and ensuring that digital experiences have tangible value.

  • Soclly looks to raise $3 million at a valuation of $30 million

    Soclly looks to raise $3 million at a valuation of $30 million

    Mumbai: Soclly, a decentralised social network powered by LensProtocol for web3.0 influencers, educators, and artists, is looking to raise $3 million at a valuation of $30 million. The co-founders, Prayag Singh, Naresh Katta, and Charan Kumar Borra, have created a platform that allows web3 creators to interact with their audience in a more meaningful way. Soclly currently includes more than 15 web3 creators from different streams.

    It will shortly release a brand-new edition of the product called Soclly V0.2. Creators will be able to post and monetize their content. Soclly is extending the capabilities of LensProtocol, built by Aave. LensProtocol enables users to create decentralised and composable social graphs using Polygon Blockchain. In Soclly V0.2, creators can mint their profiles, follow other users, and make and gather any publication entirely on-chain. As a result, it enables creators to control their data, social graph, and content. According to the company’s business model, the platform levies a five per cent commission fee. The fee does, however, go down if the content creator has a significant enough volume and popularity on the platform.

    Speaking to Indiantelevision.com, Singh said that the company has been bootstrapped so far. “We have invested nearly $650,000. At a $30 million valuation, we intend to raise three million dollars. Initially, we are focusing on web3 users, and in parallel, we have begun working to streamline the user onboarding process so that web2 users will also enjoy a seamless onboarding experience like they do in web2.”

    He asserted that widespread web3 adoption has already occurred. Aave, Biconomy, and Polygon Blockchain were used by JP Morgan to accomplish its first decentralised finance (DeFi) transaction recently. In addition, Meta began testing a method for minting and selling NFTs on Instagram, powered by Polygon Blockchain.

    Singh also underlined the importance of the regulatory structure, noting that there are approximately 1.3 billion people in India and that appropriate regulations are necessary to protect both small and large investors. Because there is currently no regulatory framework for cryptocurrencies, web3 companies are moving their headquarters to Dubai or Singapore. With the proper regulatory framework, India may become a leader in web3 technology.

    The concept of Soclly was first established in 2021. The co-founders got in touch with the creators and voiced their worries. It has become apparent that authors frequently receive spam and trolls in their direct messages, and the majority of users submit fillers in the DMs, which increases noise. There was no way to select users based on the quality of their queries.

    The creators were unable to establish a personal connection with their audience. After having a discussion with a creator, the audience hardly ever posts anything on social media about how great the interaction was. This is a problem that Soclly has attempted to address through its platform.

    Singh further explained the difference between web2 and web3. Web2 refers to the version of the internet most of us know today. The internet is dominated by companies that provide services in exchange for your personal data, while web3 allows complete control and ownership of your data. Soclly’s goal is to reach every corner of India, as platforms such as Meta, Instagram, and Paytm have done. The goal is to teach people about web3. “They should use the web3 platform the same way they use the web2 platforms,” he says.

    A significant amount of education will be required. It is the most important consideration here. Singh emphasises, “Our primary goal is to educate people about blockchain and how it works. People are currently investing in cryptocurrencies to make quick money without understanding the underlying technology. This must be addressed as soon as possible.”

    According to him, the growth opportunity is that, while there are 207 million content creators worldwide, only 10 per cent earn $1,00,000 or more annually. 26 per cent earn between $10 and $1,000. There are numerous gaps to be filled. “Our attention is focused on this gap. We want to help web3 creators monetise better. They can start making money right away. That is the power of web3. For instance, in web2, YouTube takes 45 per cent of a creator’s ad revenue. In web3, you keep the majority of the revenue.”

    In 2023, the emphasis will be on bringing on more web3 content creators, improving marketing, and increasing team size.

  • At ‘Creator Day’ in Delhi, Meta highlights its commitment to the Indian creator economy

    At ‘Creator Day’ in Delhi, Meta highlights its commitment to the Indian creator economy

    Mumbai: Meta (formerly Facebook) highlighted its commitment to creators in Delhi and across the country by organising its first ‘Creator Day’ in Delhi-NCR.

    ‘Creator Day’ is Meta’s annual flagship event to celebrate creators and provides an opportunity for them to create, collaborate, and learn from each other. The 2022 version of the event is unique because it took place across five cities: Mumbai, Hyderabad, Kolkata, Chennai, and Delhi, which was the city for the event finale. It is also the first time, at ‘Creator Day’, that Meta provided the fans an opportunity to meet and interact with creators – an engagement aimed at strengthening their relationship.

    In the run-up to the event, creators Komal Pandey, Saloni Gaur, Vishnu Kaushal, Sushant Divgikr, RJ Abhinav, Avneet Kaur, Aksh Baghla, Game Guru, and Shlok were ambassadors for ‘Creator Day,’ with them featuring on outdoor ads that were visible in different parts of the city. Over 350 creators finally attended the event and had the opportunity to sit through sessions on collaborating with each other in the best possible manner, on brand partnerships, and on inspirational creator growth stories.

    Meta highlighted the way creators from the north of India like RJ Karishma, Shubham Gour, Amulya Rattan, and Naveen Singh aka @bihariladka are pushing culture through their content and building loyal communities all through their content on reels.

    Facebook India (Meta) director & head of partnerships Manish Chopra said, “Young people across India, and what some call Bharat, are expressing themselves on reels and being discovered by audiences across the country. They’re becoming the new generation of creators, with a national following, in the process shaping culture and influencing trends. For this reason, we believe a key pillar of India’s new economy is going to be built and fuelled by creators. And with reels, everyone has a stage to be a global icon of tomorrow.”

    Actor Varun Dhawan was a part of the opening keynote, as he shared the way he’s inspired by creators as well. He said, “It’s impressive the way young people are showcasing their talent on reels, and how they’re breaking through every day, every moment. Being authentic and keeping experimenting is the best advice I can give creators. From Student of the Year to the upcoming Bhediya, these are two principles I’ve lived by and maybe that’s something you could follow too. I wish you the best in finding your own path and being advocates for your collective success. I’m glad Meta’s providing you with opportunities like Creator Day, and I’m happy I got to be a part of it too.”