In an Exclusive Conversation with Alok Joshi, Co-Founder, Lepasa Metaverse

With the growing footprints and the popularity of Metaverse, many digitally connected universes are taking the shape. These ecosystems claim to open new avenues of opportunities for stakeholders by bridging the gap between physical reality and virtual reality. In fact, today entrepreneurs, companies, financial institutions, and tech giants are increasingly making their foray into the segment and this trend is expected to drive the next leg of the growth for the metaverse. No wonder, the digitally connected universes are poised to grow at a CAGR of 47.6% to reach $1528 billion by 2029.

Metaverse is fast catching the imagination of stakeholders with both users and investors waking up to the enormous potential this emerging category of digital assets brings to the table. Reflecting the true spirit of web 3.0, the Lepasa is a brainchild of Ashish Agarwal and Alok Joshi. Lepasa Metaverse was launched in 2021 to take the revolution of the metaverse to the doorsteps of the masses. Built using web 3.0 space, Lepasa offers a mesmerizing 3D experience to users which is cut above the regular two-dimensional interactions offered by other projects in the virtual space.

“The primary objective behind launching Lepasa is to offer users an immersive and holistic metaverse ecosystem while taking the creator’s economy to a next level,” says Alok Joshi, Co-Founder of Lepasa, “Our platform allows users to ideate, create, and trade digital assets and helps them experience the transformative potential of Non-fungible assets (NFTs) in a way that is simply unheard of in the past.”

Lepasa Metaverse

There are many first-in-segment features offered by Lepasa that include its immensely popular virtually-real metaverse. The ecosystem of digital properties on Lepasa includes land developers, owners, buyers, and service providers, and this holistic approach of bringing all stakeholders together is proving instrumental in establishing real estate on metaverse platforms. Digital Properties, just like their physical counterparts, can be leased, flipped, and developed further and thanks to their fully programmable characteristic, owners can customize the space to meet, greet, interact, and do transactions in a manner they do in a real-world scenario.

“Lepasa is unique in terms of offering enthralling virtual realty projects on its metaverse built on next-gen Web 3.0 space. Unlike other metaverse projects, virtual realty on Lepasa metaverse is conceptualized by world-class architects, designers, and planners who have invested themselves to come up with this virtually-real experience,” Alok tells Business Standard.

Lepasa NFTs

NFTs are playing an instrumental role in boosting the prospect of the creator's economy. NFTs are short for Non-Fungible Tokens and this category of digital assets has already become a billion-dollar industry worldwide. The segment has seen the participation of artists, politicians, celebrities, sportspersons, and leading fashion and consumer brands and is expected to clock a CAGR of 33.9% between 2022 and 2030.

Lepasa offers state-of-the-art NFTs and importantly, the digital assets offered by Lepasa come with a unique distinction of having the source file. “Unlike other platforms that offer NFTs which are merely images in JPG or PNG formats, Lepasa offers NFTs with source file,” Alok explains, “This enables users to use NFTs in a wide range of formats such as videos, music, games, and metaverse among others.”

Future Growth

With digital transformation sweeping the world, companies cutting across sectors are investing every in Metaverse, creator economy, digital tokens, and NFTs. "Retail Industry, the gaming, music, and entertainment sectors are well-poised to leverage metaverse to connect with their target audiences,” Alok explains, “The companies in the consumer marketing space, tech sector, and fashion segments are also making a beeline for digital properties. In addition, firms catering to the segment of consumer electronics, physical realty, and banking and finance are also expected to make investments in digital assets in future."

The Team

The founders Alok Joshi and Ashish Agrawal have worked extensively in the domain of technology across business segments and industries. Both have been instrumental in bringing new-age innovations to life and importantly, share the optimism for the transformative potential of blockchain and metaverse to enhance customer experience. This core belief and their quest for bringing excellence in the metaverse domain brought them together and finally led to the incorporation of Lepasa in 2021.