Mumbai: Shemaroo, an Indian media and entertainment major has partnered with Seracle – a blockchain technology company to drive Web 3.0 initiatives.
Seracle is a Web 3.0 full stack infrastructure company, building decentralised applications globally.
With Seracle‘s enterprise blockchain expertise, Shemaroo will be unleashing the value of intellectual properties (IPs) to democratize creativity, ownership, and applications in the new frontier using blockchain technology.
According to Shemaroo Entertainment CEO Hiren Gada, Web 3.0 provides limitless opportunities, especially for the entertainment industry. Shemaroo’s expansion into this space is a strategic decision and to be the innovator which will lead the transformation in the ever-evolving M&E industry.
“We are happy to partner with Seracle for our Web 3.0 expansions and keep the brand future-ready to capture this emerging space by creating a fresh alternative for our tech-savvy consumers,” added Gada.
“With this partnership, we look at cementing our position as the chosen entertainment platform at the national and global level and extend the value-added experience for consumers in the Web3.0, NFT, and Metaverse,” informed Rahul Mishra, Head – Web 3.0 Initiatives, Shemaroo Entertainment.
Further, “With evolved virtual-reality experience, we aim to connect the traditional fandom with the Web3.0 ecosystem and uncap the huge growth potential for the brand,” commented Mishra.
“We are proud to partner with Shemaroo in realising their vision and business goals in the Web3.0 space,” said Shrikant Bhalerao, CEO of Seracle, Web 3.0 Infrastructure.
“Web3.0, NFT, and Metaverse will open avenues for the entertainment sector – keeping up with the digital burst, elevating the individual experience in personalised entertainment content space. We are happy to be instrumental in levelling up the industry standards through this partnership,” added Bhalerao.
As per recently published data, the global Web 3.0 market size will reach $ 81.5 billion in 2030 with a compound annual growth rate of 43.7%. Another research data predicts the NFT transaction will rise from $24 million in 2022 to $40 million by 2027, globally.
Web 3.0 and Blockchain market is projected to add $ 1.1 trillion to India’s GDP by 2032 and most certainly media and entertainment industry will be a key player in driving this growth.