MYEG strives to be the regional leader in metaverse development

MYEG is set to become one of the main players in the development of a metaverse ecosystem through its investment in the next generation of technologies. — Photo Bernama

KUALA LUMPUR: MY EG Services Bhd (MYEG) is set to become one of the key players in the development of a metaverse ecosystem through its investment in the next generation of technologies.

In a statement, Malaysia’s leading digital services company said it seeks to integrate Asean and China digitally through a virtual world and create a new class of added value.

“MYEG is currently involved in building a blockchain ecosystem in various Asean countries and aspires to connect the Southeast Asian market with the Chinese market,” the statement said.

Metaverse integrates various technologies such as cloud computing, augmented reality (AR), virtual reality (VR), and blockchain; the complex nature of its ecosystems offers enormous potential, and its popularity grew last year with the non-fungible token (NFT) concept.

MYEG revealed its intention to contribute to the development of the metaverse in a recent webinar “NFT: The Key to Connecting the Metaverse to Reality” organized by the Alliance of Blockchain Industry (ABI), founded by a group of blockchain companies.

Part of its plan to help grow the metaverse ecosystem was the launch of NFT Pangolin, a global NFT marketplace that supports issuance and trading of NFTs; and which is expected to run on the soon to be launched Zetrix Layer 1 blockchain network.

The release states that MYEG has been venturing into the field of augmented reality, virtual reality, and blockchain since 2018, aiming to achieve high integration between different technologies to develop a metaverse ecosystem.

He has since invested in various technology companies, such as Zetrix (blockchain), NFT Pangolin (NFT) and DeepScience (optical technology), with a strong focus on key technologies and areas surrounding the metaverse such as mapping sensors to human actions. , visual tracking, state-of-the-art rendering, and digital arts and creativity, the statement said.

There are challenges to overcome when operating cross-chains between countries, such as compliance with different countries’ regulatory environment, to achieve safer and more efficient cross-border data exchange, according to the statement.

There is also a need to improve production efficiency and reduce the infrastructure cost of the metaverse ecosystem to encourage adoption by industries. — Bernama

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