Cineverse, was designed to convert content viewers into content owners.

MContent has announced the launch of the Cineverse, a platform that aims to deliver cinema to anyone everywhere, at any time. MContent's launch was made possible thanks to a partnership with PwC Middle East emerging technology teams.

According to a report, Gargash Group, a leading UAE conglomerate, had made a major investment in MContent, a tokenized content ecosystem that aspires to revolutionize the global content landscape, earlier in January 2022.

The platform, which enables crowdfunding of film production and capital-intensive content creators utilizing Cryptocurrency and the Cineverse, was designed to convert content viewers into content owners. The network has previously sponsored 11 well-known film productions on four continents, and it now wants to use the parallel Cineverse economy to accelerate decentralized financial deployment in content creation. By the end of 2022, the platform expects to have funded 100 global initiatives.

"The immersive cinema experience - created in conjunction with PwC and demonstrated to our guests today has global scalability and mass adoption capability," Umair Masoom, Founder & CEO of MContent, stated at the event. MContent hopes to enhance funding and screening chances for thousands of independent filmmakers around the world by bringing the Cineverse to a worldwide audience. MContent is establishing a monetized content consumption platform as part of the decentralized ecosystem, with the goal of generating long-term earnings for content providers and users."

"This is a brilliant example of the region's movement towards digital transformation and is very much in line with major wider initiatives such as Dubai Vision 2030," says Reza Essop, PwC Middle East's Emerging Technology Leader.

With the convergence of blockchain and extended reality, MContent has established a realistic use of developing technologies (XR). We are ecstatic to have aided this work and helped to bring this vision from concept to reality, as well as to a sustainable commercialized economy that will benefit many people and pave the path for additional out-of-the-box initiatives." the leader added.