Virtualtech Frontier aims for RM16M revenue and 10K subscriptions
Virtualtech Frontier, the popular virtual space and metaverse development company, recently revealed its plans for 2023.
The company announced its aim to accrue over 16 million dollars in revenue. Moreover, Virtualtech Frontier is looking to score 10,000 subscriptions on its metaverse this year. The primary target to achieve these goals is the growing demand for solutions in Asia.
Jason Low, the CEO and co-founder, and Kendrick Tan, the CFO of Virtualtech Frontier, recently discussed the development. The duo shared the news while discussing the release of Mitoworld, their latest metaverse platform.
Low stated that the company has almost tripled its growth to RM3.6 million, compared to RM1.1 million in the previous year. Thus, the team is trying to further the growth even more, setting the goal of quadrupling it.
When it comes to revenue contribution, Virtualtech Frontier is expecting 40% to emerge from Mitoworld. The remaining 60% is likely to come from customized projects. After launching in 2021, the company has grown from its initial venture of creating virtual solutions for corporations.
Low even cited Mark Zuckerberg for popularizing the metaverse, elevating its global demand and interest across global corporations. Similarly, Tan also talked about the technology’s potential in the market.
Virtualtech Frontier is all about solutions and experiences. This will eventually become a big industry, with several players across the globe offering multiple solutions.
According to Low, the features developed in Mitoworld are enterprise-focused and enterprise driven. They will enable companies to achieve better engagement with their customers.
More and more businesses are looking for exciting and unique ways to reach a wider audience without being limited by borders. Many of them are adopting digitalization through social media and websites.
Since Virtualtech Frontier has already helped 250 brands, it is likely that its latest metaverse will also be a success. Thus, many experts think that the goal set by the company seems achievable.