top of page

Reality's Next Frontier

Plunge into the fascinating realm of what's heralded as the 'future of digital connection' – the Metaverse. While this term has recently taken center stage, its roots can be traced back to the captivating pages of Neal Stephenson's 1992 novel, "Snow Crash." Since then, the Metaverse concept has evolved in harmonious sync with the march of technological progress.

With the landscape of global video gaming in perpetual ascent, the Metaverse concept seamlessly meshes with the likes of Oculus, PlayStation, Samsung, and industry giants racing to pioneer the ultimate VR headset and gaming experience.

Roblox, an influential gaming player in the Metaverse scene, made its debut in 2006 with a strong emphasis on virtual reality. By July 2023, it boasted a remarkable 66.1 mn daily active users, valuing the platform at $23.77 bn. Roblox allows users to create, develop, and publish experiences on its platform. Impressively, three out of four Americans engage with Roblox, showcasing its widespread popularity and influence.

Whereas in the cinematic world, the significance is exemplified by The Mandalorian series production. Throughout the years, many have tried projecting dynamic backgrounds for actors, revamping virtual production through technology synergy.

This time it is executed seamlessly with Stagecraft, a colossal 20-foot-tall, 270-degree, 75-foot-wide virtual filmmaking setting. Half a portion of The Mandalorian scenes were filmed here, requiring minimal post-production work.

These examples offer a preview of the future collaboration among Augmented Reality, Virtual Reality, and Artificial Intelligence, as they embed themselves into our daily lives. Much of the advancements are not entirely novel; instead, it involves complementing and improving existing technologies to achieve enhanced functionality.

Let's turn our head to the forefront of immersive technology software solutions in Indonesia, PT WIR Asia Tbk (WIRG). We recently had the privilege of visiting their office a few days ago, where we had the opportunity to meet Jimmy Halim, one of the co-founders, and his exceptional team.

WIRG initially harnessed bespoke tech marvels like AR and VR development. Gradually, it evolved into a trusted consultant for its clients, strategizing on how to leverage this latest technology for product marketing and branding.

Having clientele spanning across more than 20 countries and unique skill set instils a sense of trust in WIRG, making them a reliable choice for renowned brand names.

Source: Company

In 2015, DAV was established, with its inaugural collaboration being with Alfamart. This partnership led to the deployment of 2000 machines throughout Alfamart stores. The model involves a commission-based approach per transaction, without any added rent fee to Alfamart. DAV significantly reduces payment queues and facilitates purchases of pulsa and vouchers via its kiosks.

Notably, these DAV kiosks generate additional revenue for WIRG through advertising, boasting an enticing profit margin. A projected 10% contribution from from advertising across WIRG platforms ecosystem is anticipated this year, with the potential for this revenue stream to constitute ~20% of the total revenue by 2026. Furthermore, potential future enhancements could encompass features like self-checkout options.

The DAV machine's projected BEP is 24 months, but with full monetization, it could potentially be reduced to around 12 months, with expected lifetime ~5 years.

Source: Company

In 2018, WIRG embarked on a new endeavor in partnership with Alfamart, giving rise to Alfamind – a virtual store offering individuals the opportunity to own their own Alfamart outlet with a mere Rp 200,000 investment without the risk of inventory. Adopting the reseller concept and capitalizing on the reputable Alfamart brand, this platform empowers individuals to resell Alfamart products, from groceries to electronics and jewellery.

Almost 70% of their revenue stems from the sales of digital products through their interactive platform. Given that its potential has not been fully realized, there remains ample opportunity to introduce new features and cultivate additional revenue streams.

What once appeared beyond imagination just a few years ago is now made possible by technological advancements. At Bandara Soekarno Hatta, immigration procedures involving passport and fingerprint checks are efficiently managed by arrays of machines with just one officer overseeing the process. The future holds the promise of even faster check-in procedures through facial recognition software, while banks are also set to reap the benefits of streamlined account opening processes through extended immersive technology integration and adoption.

Their diverse product lineup also includes a geo-location tech fashioned as a game – perhaps you recall the Pokemon Go game? In this variant, you embark on a hunt for vouchers, enhancing the gameplay experience with the reward of spendable vouchers. WIRG ingeniously monetizes this app through both advertising and commissions.

WIRG's technology and intellectual property present a diverse range of usage possibilities. Among WIRG's recent projects is the creation of interactive billboards for the new Samsung flip model. Keep an eye out on the road – when you spot one, get ready to scan it with your phone!

Their most recent addition, Nusameta, a Metaverse web 3 space + blockchain, represents a significant leap forward in Indonesia's exploration of the Metaverse. Set to launch in 4Q23. This platform facilitates an elevated experience of virtual world where new interactions between brands and users. This platform also enables its users to meet and do phletora of activites together within the virtual world of their own.

To conclude, if digitalization in Indonesia is in its early days, then artificial intelligence is at its infancy stage! With rapid global advancements in this domain, a wealth of opportunities is on the horizon.

Get ready for an insightful report from our tech analyst, Paulus Jimmy as he delves more on WIRG!


bottom of page