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String Metaverse Limited, following its merger with Bio Green Papers Limited (BSE: 534535) approved by the Hon’ble National Company Law Tribunal (NCLT) under the Scheme of Arrangement of the Insolvency and Bankruptcy Code (IBC), has reported strong financial results for the first quarter of FY 2025. The Company achieved consolidated revenue Rs 50.02 crore and profit after tax (PAT) Rs 5.38 crore
supported by Spacenet Enterprises Ltd ,NSE: SPCENET) And 63 Moons Technologies Limited ,NSE: 63Moons) Step Down Subsidiary 3.0 VERSE LIMITED With the investment, String Metaverse will be the first Web 3.0 venture to start trading on the BSE main board.
String Metaverse has global offices in GIFT City, Hyderabad, UAE, and Hong Kong.
The merger has strengthened the company’s position, leading to increased consolidated revenues. 151.21 crores and a pet 10.82 crores For FY 2024Highlighted the successful integration and growth potential of the combined entity.
The Evolution of Web 3.0
Web 1.0: The focus was primarily on email and messaging, laying the foundation for digital communications.
Web 2.0: Marked by centralized social communities such as Instagram, Facebook, and WeChat, where monetization is primarily controlled by large companies such as Meta, Microsoft, and Google.
Web 3.0: Digital communities are built for and by the people, enabling users to share, create, and transact within decentralized communities.
“In this new era of the Attention Economy, individuals are rewarded for spending time online, converting their attention and time into digital assets”
“New technological innovations are set to dominate the global equity market cap. Disruptive technologies such as Web 3.0’s ‘public blockchains’, energy storage, artificial intelligence and robotics currently have a combined market cap of around $19 trillion. This is expected to grow to $220 trillion by 2030, as opposed to non-innovative companies whose combined market cap is forecast to grow from $98 trillion to $140 trillion, according to a research report by ARK Investments.”
“With Web 3.0 and next-generation technologies growing at an unprecedented pace, we are confident of achieving 100% CAGR growth for the next 3 years,” said. Krishna Mohan MeenavalliFounder of String Metaverse Ltd.
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