TikTok Competitor Triller Delves Into Metaverz

US-based TikTok competitor Triller said it is launching a metaverse offering this week aimed at providing a virtual way to engage with events such as live music and sporting events.

The Triller platform, which launched in its current form in 2019 and saw rapid growth in mid-2020 at a time when TikTok was at risk of being banned in the US, provides a music library for users to automatically sync to short videos.

The firm moved into event promotion with the acquisitions of live-streaming music platform Verzuz and combat sports brands Bare Knuckle Fighting and Fite.tv.

Hybrid events

It also owns Fangage, Julius and Amplify.ai, which provide techologies to help creators monetise their fan base.

Triller said its Metaverz platform would kick off with an electronic dance set by DJ Sam Feldt from the Netherlands on Saturday, 22 October. Feldt is to join a virtual nightclub after the concert to mingle with fans, Triller told Reuters.

More events are planned, including the Bare Knuckle Fighting Championship and Triller Fight club, as well as opportunities to interact with artists and other fans, Triller said.

It said it and its subsidiaries have some 2,000 events planned for the next year, most of which are hybrid events taking place in the real world and the Metaverz.

Virtual environments

Christopher Taurosa, head of interactive media at Triller, said the events were carefully planned to foster user engagement.

The firm has reportedly constructed virtual environments including a sports arena, a beach environment and a nightclub with projection screens, laser lights and marble floors for the Metaverz.

Unlike the Horizon Worlds platform offered by Facebook parent Meta, Triller’s Metaverz can be accessed from any device through a web browser.

Meta has spent billions to develop digital metaverse environments meant to be accessed primarily through a virtual reality headset, but the Wall Street Journal recently reported the flagship Horizon Worlds environment has attracted only 200,000 users.

Public offering

Triller recently raised $310 million (£277m) from Luxembourg-based investment group Global Emerging Markets ahead of a planned initial public offering in the fourth quarter.