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In cryptocurrency-skeptical India, some Web3 sectors have received government approval and are infiltrating people’s daily lives. For example, Metaverse is one such Web3 technology. In a recent development, Maharashtra Deputy Chief Minister Devendra Fadnavis unveiled the ‘Mumbai Metropolis Metaverse’. This blockchain-based virtual portal allows approximately 21 million residents to check the status of city development through the metaverse. People outside the city will also be able to see the city’s changes.

Through an interactive 3D and virtual reality (VR)-based interface, this free platform provides immersive insights into the developments taking place in and around Mumbai.

“Click this link to see how Mumbai will transform in the next few years, not months,” Fadnavis tweeted along with a link to access the Mumbai Metropolis Metaverse for Android, iOS and web browsers.

According to the official page of this metaverse portal, the project is powered by Meta, Hungama, and GOQii, among other brands. The portal will allow visitors to explore the country’s financial capital as well as immerse themselves in games that include activities such as city planning.

This is the first time that an Indian city has launched itself in the metaverse at a time when international players in the sector are showing interest in expanding in the country.

For example, Sandbox, a popular metaverse platform based in Hong Kong, is looking to make India its largest market in the next two years.

Apart from the expansion of India’s Metaverse, Meta recently reached out to the Telecom Regulatory Authority of India (TRAI), asserting that India needs to foster dialogue between policymakers and industry stakeholders to ensure continued growth of technologies such as AI. Metaverse. The metaverse market is estimated to reach a value of $800 billion (approximately Rs. 59,58,700 crore) by the end of 2024.

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