Global Metaverse Revenue Opportunity Could Reach 800 Billion By 2024 Alok Joshi Lepasa Metaverse

Please tell us about your project. What’s the thought behind it?

The Lepasa Metaverse strives to encourage and educate individuals to actualize themselves both digitally and in real life through the fostering of positive psychology. This virtual therapeutic environment encourages users to practice basic mindfulness skills while building strong, decentralized communities. 2021 has been a crazy year, or we can say the craziest year for the crypto community. DeFi & NFTs have stolen the show from top cryptocurrencies like Bitcoin, Ethereum, etc. It is such strong evidence that NFTs are bringing large numbers of “new crypto owners” into the industry. A scenario where a new user buys crypto for the first time to buy NFT is too common these days.

We started working on the “NFT” concept in late 2020, when cryptopunks were everywhere and the entire industry was hooked on pixel graphics. We had found that when we went to NFTs it had to be something different and not just another project in the crowd on the same day.

Working in blockchain technology for almost a decade, our experienced and dedicated staff suggested we proceed with an equal mix of technology and art. Oh my goodness! That was a powerful message, and it was the cornerstone of this premium Fine Art 3D Game Ready NFT creation. We onboarded world-renowned traditional visual artists and CGI artists, and developed a strong bond with our technology team. Despite the fact that NFTs are one of the most widespread real-world uses of blockchain and smart contracts to date, their adoption has been one-sided. In popular culture, NFTs have been limited to GIFs and JPEGs, ignoring the breadth of what the technology is capable of.

What was the path for entrepreneurs to build a startup?

Startup founders’ journeys are usually seen as bumpy and difficult, especially in the beginning, and ours were no exception. Since Lepasa was founded, we have had a long-term, sustainable vision to develop a Metaverse ecosystem for brands and content creators. We were fortunate to have a team mix of excellent talent and experienced professionals. When we launched it, we received a lot of interest from the industry. The journey has been quite industry focused so far, in decline at the moment, a tough time not just for us but for the industry as a whole.

What problem is the startup trying to solve?

While most of the Metaverse games are 2D-like games and could not provide users with a realistic experience, on the other hand, Lepasa uses realistic 3D rendering technology, the same technology is used in Hollywood movies like Avatar, Titanic, etc. This gives users an immersive experience. Additionally, user land holdings on blockchain are held as NFT and are fully decentralized.

What do you offer your users, customers or clients? How does it benefit them?

We have been able to deliver the world’s best, most functional NFTs, with 2000+ users we are in the early stages of business development. We have partnered with some of the leading projects in the blockchain industry such as Polygon, FalconX, EPNS, Forward Protocol, etc.

What is the startup’s core USP? What are your differentiators from brands already in the market?

Lepasa Creatures are Fine Art 3D Game Ready NFTs, And Not Just JPEGs. Lepasa NFTs give the owner access to the actual source file, which in turn gives the NFT owner the ability to animate and use games, videos, 3D metaverses and much more. Our NFTs give owners access to the actual source file, not just an image of it. These source files can be used in games, videos, images and much more. The quality of our NFTs will set a new standard in the industry.

How does the platform work? Who is your target audience?

Lepasa is one of the most promising upcoming NFT and Metaverse Marketplace projects. Our target audience is so large that it ranges from gamers primarily, to brands looking to establish their presence in the metaverse, to tech enthusiasts looking to stay ahead of the game when it comes to the latest technological advances. Our Digital Art NFTs are available on our website.

Please let us know your funding status and your attendance.

We are a homegrown, self-funded project so far, we recently started inviting/onboarding VC/investors.

Can you please shed some light on upcoming future expansion plans? Do you also plan to expand your product portfolio?

Based on a Bloomberg analysis and data from Newzoo, IDC, PWC, Statista, and Two Circles, Metaverse’s global revenue opportunity could be $800 billion in 2024, up from approximately $500 billion in 2020. The key factors expected to drive the growth of the Metaverse market include strong growth opportunities in the adjacent technology markets such as virtual reality (VR), augmented reality (AR) and mixed reality (MR), blockchain, digital assets and others.

Lepasa Metaverse is building a sustainable ecosystem with tremendous opportunities for content creators. Lepasa aims to be a captivating immersive experience. Our vision is to set an example for the world of futuristic, state-of-the-art Metaverse architecture.

Our roadmap for the next 12 months consists of extensive tech-based development, community growth, more industry partnerships, and greater brand awareness. We are also in talks with some of the industry’s leading VC/investment firms to support our massive development efforts.

How is the Real East sector setup utilizing the Metaverse and NFT?

While the majority of NFT use cases to date have been associated with digital art and collectibles, we have yet to realize the potential of NFTs in the digital asset-based economy. Thanks to Metaverse, the blockchain sector now has a new, exciting dimension. We are in the early stages of its development and now is the best time to lay the foundations for an entire digital asset based economy.

What is the current market size and opportunities available to players?
Based on a Bloomberg analysis and data from Newzoo, IDC, PWC, Statista, and Two Circles, Metaverse’s global revenue opportunity could be $800 billion in 2024, up from approximately $500 billion in 2020. The key factors expected to drive the growth of the Metaverse market include strong growth opportunities in the adjacent technology markets such as virtual reality (VR), augmented reality (AR) and mixed reality (MR), blockchain, digital assets and others. Lepasa Metaverse is building a sustainable ecosystem with tremendous opportunities for content creators. Lepasa aims to be a captivating immersive experience. Our vision is to set an example for the world of futuristic, state-of-the-art Metaverse architecture.

Our roadmap for the next 12 months consists of extensive tech-based development, community growth, more industry partnerships, and greater brand awareness. We are also in talks with some of the industry’s leading VC/investment firms to support our massive development efforts.

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