Bharti Airtel rises on launching India's first multiplex in the metaverse

Bharti Airtel rose 1.12% to Rs 678.70 after the company said it launched Xstream multiplex, an extension of Airtel's Xstream premium offering, on the Partynite Metaverse platform.

Airtel's Xstream premium offering recently achieved a 2-million subscriber milestone within 100 days of its launch.

Xstream multiplex will be a 20-screen platform with access to content portfolios from leading OTT partners available on the application. The multiplex will enable sampling of original shows and movies with content pieces such as the first episode of an OTT original or initial minutes of a movie in regional languages, besides English and Hindi. Viewers can get complete access upon subscription of a plan.

The Xstream multiplex will also offer an immersive content experience allowing its users to interact on Partynite metaverse. The idea was conceived by Essence, Airtel's integrated media agency of record, and developed by Gamitronics, the creator of Partynite, a blockchain-powered digital parallel universe.

Speaking about the Airtel Xstream multiplex on Partynite metaverse, Shashwat Sharma, director of marketing at Airtel said, "Airtel's Xstream multiplex provides a larger-than-life experience, which brings together Web 3.0 apps and immersive storytelling, and an assortment of content from our partners. We all know people's love for movies and entertainment in India. Through the metaverse, we are looking to tap into a larger audience, giving content enthusiasts an opportunity to sample Airtel's Xstream Premium offering and, thus, aiding in driving higher adoption."

Rajat Ojha, founder of Partynite (Gamitronics) said, "We are delighted to partner with Airtel and bring alive India's first multiplex in the metaverse. Airtel Xstream premium's multiplex experience is one of the most scalable use case scenarios for the metaverse. Future opportunities here include movies, music, live events and premium sports streaming. Apart from the robust scope, it will also allow social engagement, open up newer methods of content delivery and, of course, provide an immersive experience at the core of it."

Bharti Airtel is a global communications solutions provider with over 491 million customers in 17 countries across South Asia and Africa.

The company's consolidated net profit surged 164.5% to Rs 2,007.80 crore on 22.3% increase in net sales to Rs 31,500.30 crore in Q4 FY22 over Q4 FY21.

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