Categories: Business

RIL Becomes First Indian Company to Post Earnings Call On Metaverse

Reliance Industries Limited (RIL) posted the proceedings of its Q2 FY 2022-23 earnings call on the metaverse. This is the first time in the history of corporate India that a company has used metaverse to engage with its stakeholders.

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A Great Accomplishment:

The RIL metaverse was produced in partnership with GMetri, a no-code metaverse creation platform. One doesn’t need to wear an AR/VR headgear to access it. Using it, analysts across the world tracking the company can toggle with slides and graphics placed on different screens as per the multiple buckets in the results presentation. They can also download the RIL Q2 22-23 media release and the transcript of the media and analyst call in PDF formats.

The RIL metaverse also has a special section comprising quotations from RIL Chairman and Managing Director, Mukesh Ambani.

Metaverse: A virtual universe:

Instead of sitting at the game console and watching the game unfold on the screen, what if you can participate as the player inside the game? What if you sitting in Delhi can take dinner with your family living in Mumbai at a restaurant table located in Kolkatta? Yes, the metaverse is a virtual world where people interact via their digital avatars.

Metaverse: The Word Meaning:

Metaverse is a combination of the words ‘meta’ and ‘universe’. ‘Meta’ means ‘Beyond’. So metaverse is a universe that is beyond the universe as we know it. It exists in the virtual realm but feels just as real.

Metaverse: Everything That need to know:

Metaverse will include elements from both physical and virtual worlds.
The metaverse will be decentralized (just like the internet).
Nobody owns the metaverse like how nobody owns the internet. It is an open platform.
There will be many companies and individuals that will operate their own spaces within the virtual world.
A metaverse is a form of mixed reality ie a combination of augmented and virtual reality.
Metaverse will introduce digital elements in the real world.
Metaverse will support 3-D virtual spaces.
3D spaces in the virtual world will let you socialize, learn, collaborate and play in ways that go beyond what we can imagine.
As per Facebook, the metaverse is the next evolution of social connection.
Metaverse is expected to expand the internet to combine digital spaces like online gaming, social media, cryptocurrency, virtual reality, and augmented reality.