Triller leads the battle with TikTok in the Metaverse

Quick grip:

  • Triller jumped on the metaverse chariot with a platform called Metaverz.
  • The short video social platform is looking to challenge industry supporters TikTok, Instagram, and YouTube Shorts.
  • The company says its app has been downloaded more than 350 million times and is on track to break the $ 100 million revenue threshold this year.

Triller has announced the launch of its metaverse platform, Metaverz powered by Epik. The short video sharing app joins the Web3 rush which has seen its biggest rivals and industry supporters, TikTok, Meta (Instagram Reels and Facebook Stories) and YouTube shorts all launch their own Web3 campaigns pointing to projects for the metaverse.

Triller says it is on track to break the $ 100 million revenue threshold this year, three years after its launch. The company also indicated in a recent publication that its application (available on Android and iOS) has been downloaded more than 350 times.

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In his description of the Metaverse, Triller stated that his Metaverz platform “provides virtual spaces where users can gather to watch live music and sporting events, such as the Bare Knuckle Fighting Championship or the Triller Fight. Club, and interact with artists. and other fans “.

The company will launch its first Metaverse event on October 22, with DJ Sam Feldt performing an electronic set from the Netherlands. He will also join the Metaverz audience in the virtual disco as an avatar to interact with guests.

The company has planned 2,000 live events over the next year, most of which will take place both in the physical world and on its Metaverz platform.

Commenting on the announcement, Christopher Taurosa, Director of Metaverz, said: “We carefully plan all of our events and experiences so that people understand what they are doing. “It’s not like you’re wandering aimlessly … You can commit yourself to an event.”

Triller has spent most of the past two years building his metaverse platform. The company shared short videos showing various experiences that users can take part in, including “a sports hall, beach houses surrounded by rippling water and palm trees, and a nightclub with projection screens, laser lights and rubber floors.” . .

Source: Metaverz / YouTube

Although Triller faces a tough competing battle with Meta and TikTok, the company has already demonstrated its ambitious plans after canceling a $ 5 billion merger with video content provider SeaChange in favor of an initial public offering (IPO ). ) expected in the fourth quarter of 2022.

Although Triller has yet to break even in a tough start to the year, the company expects to hit profitability in 2023 according to CEO Mahi de Silva.

The company revealed last week Prem Paramesvaran’s appointment as head of corporate finance and investor relations. Parameswaran has solid industry experience, having recently worked for Eros International, a leading Indian film and entertainment company.

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