200 celebrity guests were invited to a film premiere at the beach – in the metaverse
Dubai, United Arab Emirates–(Newsfile Corp. – February 26, 2022) – MContent has announced the arrival of Cineverse to the world through which they aspire to bring cinema to people anywhere, anytime – MContent and their launch was made possible thanks to a collaboration with the emerging technologies teams of PwC Middle East.
Fig 1: People at the beach enjoying the MContent films in the cineverse
A high-end launch event brought together notable guests at Palm Jumeirah Dubai, where MContent premiered its original co-productions titled “Ripple vs. SEC Saga” and “El Salvador vs. World Bank.” The cinematic premier was different from the norm, however, as attendees were seen staring out at the ocean while sitting on a beach wearing their virtual reality (VR) headsets engaged in an immersive Cineverse experience.
Earlier in January 2022, leading UAE conglomerate Gargash Group announced a major investment in MContent, the world’s first tokenized content ecosystem that aims to revolutionize the global content landscape. Designed to convert content viewers into content owners, the one-of-a-kind platform enables crowdfunding of capital-intensive film production and content creators using cryptocurrency, NFTs and Cineverse. The platform has already funded 11 top film projects across 4 continents, and now it plans to accelerate the deployment of decentralized finance in content creation using the shadow economy Cineverse.
Speaking at the event, Umair Masoom, Founder and CEO of MContent, said, “The immersive cinematic experience – designed in collaboration with PwC and presented to our guests today has global scalability and the ability to mass adoption. By bringing the Cineverse to a global audience, MContent aims to increase funding and screening opportunities for thousands of independent filmmakers around the world. As part of the decentralized ecosystem, MContent is launching the first fully monetized content consumption platform, aimed at generating sustainable revenue for content creators and I would like to thank our co-production partners “Insight TV” and “Villain Studios” from the Netherlands, our technical support teams in “PwC Middle East and PwC UK” and our investors including “Gargash Group” and “Daman Investments” for helping us bring the Cineverse to life today.”
Reza Essop, Emerging Technology Leader of PwC Middle East, believes that “This is a shining example of the region’s move towards digital transformation and is very much in line with larger major initiatives such as Dubai Vision 2030. MContent has defined a practical application of emerging technologies. with the convergence of blockchain, NFT and extended reality (XR). We are immensely proud to have facilitated this effort and enabled this vision from concept to reality and a sustainable marketed economy that can benefit many and pave the way for other off-the-shelf efforts. »
The first event brought together members of the GCC business community, celebrities, filmmakers, influencers, NFT artists, movers and shakers, blockchain enthusiasts as well as senior members of the Gargash group who have all become the first to discover the MContent Cineverse at the beach. in virtual reality with two distinct original productions.
Fig 2: In the picture above Super Car Blondie, ArabGT, Umair Masoom, Jeremy Dalton, Mr. Shehab Gargash & Dr.Lamees, Ahmed Khizer & Arshia Khan
Also present at the occasion was Dr. Lamees Hamdan, a leading Emirati entrepreneur and global thought leader who recently accepted the position of Chairman of MContent. About MContent’s vision, Dr. Lamees comments, “I love the disruptive nature of MContent, the ability to help people dream of becoming 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 control back to the creators, where we all fund our own destiny and that is power. What we see today is a manifestation of this new reality that we are creating together.
The native MContent token currently trades at a market cap of over $100 million on over six centralized and decentralized exchanges and the platform plans to fund 100 global projects by the end of 2022.
PwC has implemented and advised organizations across all industries on virtual reality (VR), augmented reality (AR) and blockchain technology, the fundamental components of the metaverse. The company has also invested in virtual real estate on The Sandbox metaverse platform and uses virtual world technologies to solve business problems. Jeremy Dalton, Head of Metaverse Technologies for PwC UK, said: “We now have a more immersive way to experience virtual worlds and a seamless way to transact within them. The convergence of virtual reality, augmented reality, and blockchain to enable the metaverse concept has created opportunities. and challenges for businesses in a number of industries”.
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Established in the Middle East for 40 years, PwC has 22 offices in 12 countries in the region and employs approximately 7,000 people. (www.pwc.com/me).
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Since 1918, the Gargash Group of Companies has established itself as a leading business conglomerate with a diversified portfolio in automobiles, real estate, investments, financial services and hospitality. Gargash has successfully introduced leading global automotive brands to the UAE such as Mercedes-Benz, Alfa Romeo, GAC MOTOR, SIXT Rent a Car, in addition to introducing an industrial range of lubricants, construction equipment and power systems. The investment sector of the group operating since 1998 provides financial services and has invested in a diversified portfolio in different sectors with a global investment scope. Gargash real estate sector offers its valued clients expert assistance in residential, commercial and industrial property management.
For media inquiries, please contact:
Somair Rizvi – Chief Operating Officer MContent
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114924