Viewers came together to a beach in Dubai and watched the film that was hosted in a virtual environment through VR headsets.
Digital content marketplace MContent partnered with PwC to launch Cineverse, a virtual experience aimed at bringing Cinema to anyone who wishes to access it from anywhere in the world.
MContent premiered its original co-productions Ripple vs. SEC Saga and El Salvador vs. World Bank at the launch event, which was held in Dubai.
The cinema premiere, however, was different from the norm as participants sat on the beach wearing their virtual reality (VR) headsets engaged in an immersive Cineverse experience.
Earlier in January 2022, the UAE conglomerate, Gargash Group, had announced a major investment in MContent, the world’s first tokenised content ecosystem that aims to revolutionise the global content landscape. Designed to convert content viewers into content owners, the first-of-its-kind platform enables crowdfunding of film production and capital-intensive content creators using Cryptocurrency, NFTs and the Cineverse. The platform has already funded 11 prominent film projects across four continents, and now, it plans to expedite the decentralised funding deployment in content creation using the parallel Cineverse economy.
Speaking at the event, Umair Masoom, Founder & CEO of MContent said: “The immersive cinema experience – designed in collaboration with PwC and showcased to our guests today has global scalability & mass adoption capability. By bringing Cineverse to a global audience, MContent wants to increase funding and screening opportunities for thousands of independent filmmakers globally. As part of the decentralised ecosystem, MContent is launching the first-of-its-kind, fully monetised content consumption platform, aiming to drive sustainable earnings for content creators and viewers.”
Reza Essop, PwC Middle East’s Emerging Technology Leader added: “This is a brilliant example of the region’s movement towards digital transformation and is very much in line with major wider initiatives such as Dubai Vision 2030. MContent has defined a practical application of emerging technology with the convergence of blockchain, NFT and extended reality (XR). We are incredibly proud to have facilitated this effort as well as enabled this vision from concept to reality and to a sustainable commercialised economy that can benefit many as well as lead the way for other out-of-the-box efforts.”
The premier event was attended by GCC business community members, celebrities, filmmakers, influencers, NFT artists, movers & shakers, blockchain enthusiasts as well as some senior members of the Gargash Group who all became the first to experience the MContent Cineverse at the beach in virtual reality with two distinct original productions.
Also present at the occasion was Dr Lamees Hamdan, a leading Emirati entrepreneur and global opinion leader who recently accepted the position of Chairperson at MContent. On the vision of MContent Dr Lamees commented: “I love the disruptive nature of MContent, the ability of helping peoples dream become a reality. Where before there were barriers, and it was almost impossible for a small creator with big dreams to access production, studios and funding, at Mcontent we are giving the control back to the creators, where all of us are funding our own destiny and that is power. What we are seeing today is a manifestation of this new reality we are creating together.”
The native token of MContent is currently trading at a Market Cap of over $100m on more than six centralised and decentralised exchanges & the platform plans to fund 100 global projects by the end of 2022.
PwC has implemented and advised organisations across all industries on virtual reality (VR), augmented reality (AR) and blockchain technology, the fundamental components of the metaverse. The firm has also invested in virtual real estate on the metaverse platform The Sandbox and uses virtual world technologies to solve business problems.
Jeremy Dalton, Head of Metaverse Technologies for PwC UK, stated: “We now have a more immersive way to experience virtual worlds and a transparent way to transact within them. The convergence of VR, AR and blockchain to enable the metaverse concept has created opportunities and challenges for businesses across a number of industries.”