Source Digital, Inc. and Metaverse Investments Ltd. have formed a strategic partnership to relaunch Sansar as the leading social and events-based metaverse platform in the rapidly expanding Web3 industry. Source’s solution will layer into Sansar’s immersive 2D/VR experiences to provide unlimited advertising and monetization opportunities within the metaverse. This strategic partnership provides the first truly monetizable VR metaverse experience optimized for creators, merchants, and advertisers.
Sansar was first developed by Linden Lab – the inventors of the original metaverse, Second Life. The platform now has its own economy and a loyal community dedicated to creating the most realistic metaverse experiences with thousands of immersive worlds and advanced avatars. Earlier this year, Sansar was acquired by Metaverse Investments with a focus on delivering a unique blend of metaverse-formatted social events and experiences intersecting with traditional mainstream video.
The resulting platform provides a mixed reality landscape that can be scaled across a wide array of traditional media and brand environments. Now, the Source Digital-Sansar partnership provides for the most advanced monetizable metaverse geared towards providing users with amazing experiences while offering brands infinite consumer touchpoints.
“The issue with the metaverse has always been how to accomplish monetization without creators bearing the cost,” says Sansar Chief Executive Officer Chance Richie. “Our partnership with Source Digital provides myriad revenue streams outside of in-world commerce, allowing Sansar to minimize fees charged on Creator Generated Content (CGC) and be the destination of choice for creators who make a living selling virtual merchandise/experiences. Our users will also benefit from the personalized experiences made possible with Source Digital’s technology.”
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“When we originally conceived of Source – while our original focus was unlocking the value of in-video moments viewers – we knew that our IP would also be extremely relevant to VR and AR landscapes,” says Source Digital, Inc. Co-Founder/Chief Executive Officer Hank Frecon. “At that time, we did not know of buzzwords like ‘metaverse’ and ‘Web3,’ but we knew that everyone in any digital-rich media landscape would want information – and subsequently transactions – in real time simply through clicking, touching, talking, and listening.”
Source™ built its patented platform to enhance video/metaverse content through a real-time intersection of social engagement and personalized content delivery, making the viewer/user experience more immersive and relevant. The current Source™ platform already boasts significant revenue, scaling rapidly by allowing users to unlock their relationship with brands/advertisers, commerce, crypto, and sports wagering on the user’s terms. The result is a more immersive and personal relationship completely agnostic to the video format.
Now, through their new strategic partnership, Source’s patented metadata-based ad and content technology converges with Sansar’s almost limitless metaverse – currently 20,000 worlds and growing – to support a range of formats that will provide Sansar with the Web3 initiatives and capabilities currently underway in the industry. Source™ will lead the core technological development while Metaverse Investments will focus on the further development of Sansar Studios – its creative team focused on building amazing metaverse experiences, plus avatar enhancement and design. The partnership also aligns the parties through cross-investment.
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