Metaverse Company Records Strong Growth In First Half Of FY25; What Drives Performance?

Hyderabad, India, November 2024 - String Metaverse Limited (Bio Green Papers Ltd, BSE 534535) has reported impressive revenue of ₹137.82 crores and a profit after tax (PAT) of ₹12.13 crores for the first half of FY25. The PAT figure includes a one-time expense of ₹2.45 crores related to merger stamp duty and authorized capital fees. These results reflect the company's successful pivot to cutting-edge domains such as Web3 gaming, artificial intelligence (AI), and blockchain technology.

Key Highlights:

• Revenue: ₹137.82 crores in six months
• Profit After Tax: ₹12.13 crores (includes one-time costs)
• Global User Base: Over 2 million active users across gaming platforms
• Attention Economy: Captured 126 billion seconds of engagement in six months (Source: Google Analytics)

Building digital communities through String Metaverse's Ecosystem for the attention economy, which is valued at an estimated $7 trillion.

Through its UAE subsidiary, String Metaverse, the company has secured strategic licenses, including an AI license, blockchain node license, digital asset trading license, and e-sports license in RAK DAO. These licenses position String Metaverse as a formidable player in the blockchain-enabled gaming and digital commerce space.

Innovation with Project MidEarth

The company is advancing Project MidEarth, a revolutionary initiative to create an "Army of AI Agents" that integrates blockchain technology for AI monetization.

These AI agents are designed to perform roles such as:

• Managing digital assets
• Facilitating payments between agents and humans
• Providing liquidity as a service
• Enhancing digital asset security
• Driving data-driven decision-making in trading

The project aims to pioneer the AI agent economy, enabling real-time settlements and fostering trustless, truth-based systems through blockchain integration.

Future Outlook:

Santosh Althuru, CEO of String Metaverse, stated, "We are building an agent economy that will grow alongside the human economy, enabling commerce and monetization across multiple blockchains. We anticipate achieving a CAGR of 70% to 100% over the next three years, driven by innovations in AI and blockchain commerce."

With its focus on technological advancements and strategic global partnerships, String Metaverse Limited is set to redefine the future of AI-driven commerce and blockchain gaming.