Netcracker Technology announced today that it has received the Best Moonshot Catalyst – The Web3/Metaverse Challenge award from TM Forum. This prestigious award, presented during DTW23 in Copenhagen, recognizes the project “Closing the Metaverse Chasm: Monetizing the Ecosystem,” which addressed the challenges of delivering extended reality immersive experiences to the market.
The objective of Moonshot Catalyst projects – which were new for 2023 – was to solve the biggest industry challenges with ground-breaking and commercially viable solutions. The Catalyst team led by Netcracker featured participation from service providers and partners including AWS, du, Juniper, NTT, NTT QONOQ, Related, SLT Mobitel, stc and Zain.
The project highlighted the creation of an open and replicable metaverse foundation that supports any extended reality experience over any channel. This type of metaverse ecosystem-as-a-service solution can give CSPs the potential to increase B2B revenue growth by 25%, increase B2C revenue growth with B2B2X business models by 16% and reduce costs by 20%.
“Our judges were very impressed with the real-world potential of this particular Moonshot Catalyst and what it means for bringing together communities within an ecosystem through immersive experiences,” said Aaron Boasman-Patel, Vice President, AI, Labs & Innovation at TM Forum. “As CSPs look to these types of offerings as the next wave of services and opportunities for their customers, projects like this are paving the way with a rich ecosystem, new business models and the security required to deliver these experiences at scale and turn them into revenue generating opportunities.”
“We are extremely honored to be part of this pioneering Moonshot Catalyst that explores innovative ways to bridge the gap between platforms and unlock the potential of metaverse monetization,” said Bob Titus, CTO at Netcracker. “Netcracker continues to be committed to working closely with our customers and partners to develop solutions for industry challenges, and we thank TM Forum for this distinguished recognition.”
About Netcracker Technology
Rapid digitization is disrupting the status quo of today’s communications markets. Constantly evolving customer needs and behaviors require service providers to adapt quickly and diversify their businesses to deliver the outcomes that their customers expect. Building digital ecosystems, anticipating customer requirements and delivering a digital-first experience are essential for service providers to accelerate innovation, expand into new markets and become the disruptors in the 5G era.
Netcracker Technology, a wholly-owned subsidiary of NEC Corporation, has the expertise, culture and resources to help service providers around the world transform their businesses to thrive in a digital economy. Our innovative solutions – including our flagship cloud-native Netcracker Digital Platform – value-driven services and unbroken delivery track record of three decades help service providers to achieve their digital transformation goals, drive the telco to techco evolution within their organizations and realize business growth and profitability. For more information, visit www.netcracker.com.
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