Press release
PRICE RELEASE DUBAI, UAE: MContent has announced the arrival of the Cineverse to the world whereby they aspire to bring Cinema to people anywhere, anytime – MContent and their launch was enabled due to a collaboration with PwC Middle East Teams in emerging technologies
A high-end launch event was attended by notable guests at Palm Jumeirah Dubai where MContent premiered their original co-productions titled “Ripple vs. SEC Saga” and “El Salvador vs. World Bank”. However, the Cinema premiere was different than the usual. Participants were seen gazing at the sea while wearing VR headsets and engaged in an immersive Cineverse experience.
Gargash Group (the UAE’s leading conglomerate) had earlier announced in January 2022 that they were closing. major investment in MContent, the world’s first tokenised content ecosystem that aims to Global content management will be revolutionized. This tool is designed to transform content viewers into content creators Owners, this platform is the first of its kind and allows crowd financing for film production. Cryptocurrency, NFTs, and the Cineverse are used by capital-intensive content producers. It has funded eleven film productions on 4 continents. Now, the platform plans to accelerate the deployment of decentralised funding in content creation through the parallel Cineverse economic.
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. The Cineverse will be made available to all countries. audience, MContent wants to increase funding & screening opportunities for thousands of Global independent filmmakers. MContent, part of the ecosystem decentralised, is Launching the first of its kind, fully-monetized content consumption platform. This will help content creators as well as viewers to make sustainable income. I would like to thank our Co-Production Partners “Insight TV” & “Villain Studios” from 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, PwC Middle East’s Emerging Technology Leader believes that “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 created a practical application for emerging technology that incorporates 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”.
GCC’s business community, stars, and film crew attended the premiere event. makers, influencers, NFT artists, movers & shakers, blockchain enthusiasts as well as some Gargash Group senior staff were among the first to see the MContent. Cineverse is a virtual beach with two original productions.
At the event, Dr. Lamees Hamdan was also present. He is a leading Emirati entrepreneur as well global opinion leader. On the vision of MContent Dr Lamees comments, “I like the MContent’s disruptive nature.“,The ability to make people’s dreams a reality. MContent removes all obstacles that previously made it nearly impossible for small-scale creators with big dreams to get funding and production. 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 $100 million on more than six centralised and decentralised exchanges & the platform plans to fund 100 global projects by the end of 2022.
www.mcontent.net
PwC provided advice and implementation services to organisations in all industries regarding virtual reality (VR). Augmented reality (AR), and Blockchain technology are the core components of this system. metaverse. Additionally, the firm invested on metaverse in virtual real property The Sandbox uses virtual world technology to address business challenges. Jeremy Dalton, Head of Metaverse Technologies for PwC UK, said, “We now have a more immersive way to Experience virtual worlds, and transact in them transparently. Convergence of There are many opportunities for VR, AR, blockchain and blockchain that enable the metaverse concept. challenges for businesses across a number of industries”.
PwC
PwC’s purpose is to help solve problems and build trust. We’re a network of firms in 156 countries with over 295,000 people who are committed to delivering quality assurance, advisory and tax services. You can learn more by visiting our website and telling us about your priorities. www.pwc.com.
PwC is a multinational accounting firm that has been established in the Middle East over 40 years. It currently operates 22 offices in 12 different countries. A region of approximately 7,000 residents. (www.pwc.com/me).
PwC is the PwC network, and/or any of its member companies. Each of these firms are a PwC. separate legal entity. Please see www.pwc.com/structure for further details.
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Gargash
Gargash Group of Companies was established in 1918 as a major business conglomerate. Its portfolio includes investments, finance, investment, automotive and real estate. Gargash successfully introduced leading global automotive brands into the UAE such as Mercedes-Benz, Alfa Romeo, GAC MOTOR, SIXT Rent a Car in addition to presenting an industrial line of lubricants, construction equipment & power systems. The group’s investment sector operating since 1998 provides financial services and has invested in a diversified portfolio across different industries with a global investment outreach. Gargash’s real estate sector offers its valued clients expert residential, commercial and industrial property management assistance.
Media inquiries? Please contact:
Somair Rizvi – Chief Operating Officer MContent
Tariq Naser
PR Partner
ZEXPRWIRE
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