Memorandum of understanding entered into by Metaverse developer Metalok And Sustainable Distributed Computing Entity 5ireChain

Metalok Solutions Private Limited has entered into a Memorandum of Understanding with 5ireChain Techno Private Limited, a fifth-generation blockchain technology company with a mission to bring a shift from for-profit to a for-benefit economy as of August 10.

New Delhi [India], August 22 (ANI/GPRC): Metalok Solutions Private Limited has entered into a Memorandum of Understanding with 5ireChain Techno Private Limited, a fifth-generation blockchain technology company with a mission to bring a shift from for-profit to a for-benefit economy as of August 10. Talking about the collaboration between the two companies Mohit Goel, CEO and Co-Founder of Metalok, a metaverse developer, says, "As we can see, more and more industries are transforming into a more sustainable model through innovation and disruption. This also holds true for collaboration, gaming, and off-site entertainment. We're excited to be partnering with 5ire, who is wholly and solely committed to sustainability through innovation."

CEO of 5ire, Pratik Gauri, on the occasion of the MOU signing, said, "We're very excited to be getting technical help from Metalok, who has extensive experience in developing web3 solutions for the marketplace, online gaming, and e-commerce, and committed to making those industries more sustainable through the use of Metaverse and web3 technologies." Subject to subsequent agreements, Metalok will provide web3 solutions and services for the 5ire products such as smart contracts including Defi, Blockchain token standards, etc. Dapps such as Marketplace, online gaming and e-commerce, retail segments and contract audits, UX/ UI on a contract basis.

Metalok will also help to develop a metaverse for 5ireChain by providing services such as graphic designing, 3D modeling, AR, and VR. Adding additional value, Metalok will also act as a service provider to 5ireChain to strengthen 5ireChain's offerings to partners and vendors. 5ire is a fifth-generation blockchain with a mission to bring a shift from a for-profit to a for-benefit economy. 5ireChain's primary goal is to create a user-centric sustainability-driven ecosystem. This is achieved by embedding sustainability in the consensus mechanism architecture. 5ire uses Machine Learning to track +700 ESG data sources in real-time to form a Sustainability Score for the Validators of the chain. 5ireChain's transparent on-chain governance mechanism allows everyone to participate in the network democratically and propose changes which assure a justified fair representation of all the stakeholders

Metalok is a company paving the way into the Metaverse, run by tech enthusiasts passionate about the futuristic technologies of AI, VR, AR, mixed reality, digital currency, and blockchain. Being built on Blockchain technology, Metalok offers its customers a secure platform that can be experienced as an evolution on the internet. This story is provided by GPRC. ANI will not be responsible in any way for the content of this article. (ANI/GPRC)

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