Virtualtech Frontier (VTF), Malaysia’s leading metaverse and virtual spaces development company has launched its very own no-code metaverse building platform, Mitoworld. The new platform is specifically designed to help businesses create their own metaverse without the need for complex coding or significant financial investment.
With the launch of Mitoworld, VTF aims to empower global brands to tap into this growing market to connect with audiences online in new and creative ways through a highly engaging and accessible template-driven metaverse-building platform.
“We are excited to introduce Mitoworld and provide a platform that is able to ease businesses in achieving their virtual dreams through metaverse integration," explains Jason Low, Chief Executive Officer of Virtualtech Frontier (VTF).
"The platform offers a no-code solution that simplifies the process of creating a metaverse, making it accessible to businesses of all sizes and industries. We’ve created the platform to be as beginner-friendly as possible, allowing users to create their own avatars and virtual worlds through ready-made blueprints and world-building tools”.
Mitoworld directly addresses major hurdles of entering the metaverse space including concerns over time, investment and resources required to set up an effective virtual world. From there, businesses can fully customise their world through in-platform tools as well as the ability to upload external visuals, videos, music and 3D assets. With that, the metaverse is ready to launch and can be integrated into the brand’s website.
The launch of the platform is timely, aligning with the “E-Commerce Trend Radar: Envisioning the Next Decade in E-Commerce” report by The Malaysia Digital Economy Corporation (MDEC) which estimates that businesses will soon enter an era of hyper-personalised commerce due to fast-changing consumer behaviour and technological advancements - such as metaverse.
MDEC commemorated the platform's entry into the market with its CEO, Ts. Mahadhir Aziz, praising the platform as an innovative solution that can facilitate the digital transformation of the local industry.
“Mitoworld aligns with MDEC's vision of fostering digitalisation and enhancing the competitiveness of local businesses. It is a shared responsibility to ensure that a metaverse is a place where everyone can thrive with clear standards for data privacy, security, and accessibility, while also fostering innovation and encouraging the development of new, immersive experiences. By working together, we can help shape a metaverse that reflects our shared values and priorities and offers new opportunities for social and economic progress,” Mahadhir Aziz shares.
Businesses can leverage Mitoworld to build sustainable online virtual worlds that can become long-term hubs for its fans and consumers to interact with the brand and each other. Metaverse can also be used to host virtual campaigns or hold digital exhibitions without having to consider the high cost of hiring, upskilling, and device upgrades.
Primarily, the metaverse serves as a hyper-personalised virtual platform that can become a new revenue stream for businesses thanks to NFT, increased demand for social commerce, and consumers’ ever-evolving shopping behaviour that opts for convenience and exclusivity.
"The metaverse brings broader opportunities that should not be overlooked due to apprehension brought about by change and innovation. With Mitoworld we want to break down this barrier and give the thousands of enterprises and SMEs in Malaysia and from all around the World an accessible and affordable route to the nearly trillion-dollar potential of the metaverse,” added Jason.
Envisioned to be the next unicorn from Malaysia, VTF is also part of 100Soonicorns, a programme by MDEC and Penjana Kapital to help groom the next business unicorns of Malaysia. The Metaverse market is projected to hit $936.6 billion by 2030.