Coforge opens new research facility for metaverse and Web3

IT company Coforge, formerly known as NIIT Technologies, announced the opening of its centre of excellence (CoE) for the metaverse and Web3.

The idea of the metaverse refers to a shared, round-the-clock digital environment, sometimes making use of augmented and virtual reality. Web3 is used to describe a potential next phase of the internet: A decentralised internet run on the record-keeping technology blockchain.

The facility will promote inter-disciplinary research and identify various use cases by using the metaverse and its intersection with digital technologies including blockchain, smart contracts, artificial intelligence, machine learning, data & analytics, and integration with other enterprise systems.

Sudhir Singh, CEO and executive director of Coforge, said: “We are excited to engage with the metaverse, Web3, and related technologies to tap the countless opportunities for innovation they offer in our core verticals of banking, financial services and insurance, and travel & hospitality, and in new verticals like retail, manufacturing, healthcare, and public sector.”

The announcement was made at Coforge’s annual technology conference #TechCon2022 which itself was held in hybrid mode.

It used the Virbela metaverse platform and demonstrated many use cases in action through virtual booths.

The company also plans to train and upskill over 1,000 employees to deliver on the metaverse and Web3 requirements of its customers.

The firm’s shares closed down 4.13 per cent or Rs 151.30 at Rs 3,511.50 on the BSE in the previous trading session. Moneycontrol