Eros Investments, a leading global media, entertainment and technology portfolio of ventures, has announced the launch of  IMMERSO, its much-awaited metaverse project.

IMMERSO is a unique virtual universe inspired by ancient mythology, imagined through the lens of pre-historic sci-fi, adventure and fantasy. It is an expansive universe filled with 14 realms (lokas in Hindi), scalable through planets across each realm.

IMMERSO offers a unique multi-user experience, where decentralized interactions will help build communities to pave the way for virtual socialization, entertainment, and commerce, Eros Investments said in a media statement.

The project is embodied with mystery, wisdom, and advanced technologies where users can play, create and dream like never before. IMMERSO’s economics will be driven by ‘in-world virtual currency’ called $IMSO and users can create avatars to represent themselves, play games, engage in social activities and much more.

Further, digital assets within IMMERSO will be tokenized as NFTs that can be created and traded with other users.

Commenting on the launch, Ridhima Lulla, Founder, IMMERSO said, “The Indian entertainment industry has greatly influenced the evolution of global culture. With technology evolving our lives and virtual reality emerging as an alternate life form, it is pertinent that we pass on the learnings and wisdom of our culture to the new world in a language that they understand.”

She added, “We are living in the most interesting times because we are transitioning to a future where virtual and augmented reality are blending with the real-world environment in a shared digital space.”

Readily available fast Internet, a growing focus on integrating the digital and physical worlds using the Internet, and increasing adoption of Mixed Reality (MR), Augmented Reality (AR), and Virtual Reality (VR) are all contributing to rapid metaverse market growth.

According to Verified Market Research, the metaverse market size was valued at USD 27.21 billion in 2020 and is projected to reach USD 824.53 billion by 2030, growing at a CAGR of 39.1 percent from 2022 to 2030.

Eros Investments is a venture with assets in media, sports, blockchain, digital commerce and gaming. Its portfolio companies include Eros Media World, Eros Now, Xfinite and IMMERSO.