String Metaverse Reports Robust Financials, Pioneers AI and Blockchain

String Metaverse Limited announces strong financial results, reporting Rs137.82 crore revenue in H1 FY25. The company advances in AI and blockchain, with 2 million global active users. Key initiatives like Project MidEarth are set to redefine AI-driven commerce and gaming. Strategic UAE licenses strengthen its market position.

String Metaverse Limited, formerly known as Biogreen Papers Ltd (BSE 534535), revealed its Q2 FY25 financial outcomes, highlighting a consolidated revenue of Rs87.8 crores along with an EBITDA of Rs7.91 crores.

The financial report showcases substantial growth, with total revenue hitting Rs137.82 crores and a profit after tax (PAT) of Rs12.13 crores in the first half of FY25, inclusive of Rs2.45 crores incurred as a one-time merger-related expense. The company's pivot towards Web3 gaming, artificial intelligence (AI), and blockchain technology underscores this financial prowess.

With a global user base exceeding 2 million on its gaming platforms, String Metaverse dominated the attention economy by capturing 126 billion seconds of user engagement over six months, as per Google Analytics. Through its UAE-based subsidiary, the company has strategically secured critical licenses, including AI, blockchain node, digital asset trading, and e-sports licenses within RAK DAO. These acquisitions render String Metaverse a formidable entity within blockchain-enabled gaming and digital commerce sectors.

As part of its innovative ventures, Project MidEarth seeks to establish a revolutionary 'Army of AI Agents,' using blockchain for monetization. These agents are tasked with managing digital assets, facilitating payments, providing liquidity services, optimizing security of digital assets, and spearheading data-centric decisions in trading. This initiative aims to cultivate an AI agent economy that enables real-time settlements and fosters trustless, truth-anchored systems via blockchain integration.

CEO Santosh Althuru remarked, "We are constructing an agent economy to co-evolve with human commerce, enabling multi-blockchain monetization. We expect a CAGR of 70% to 100% over the next three years, propelled by AI and blockchain commerce innovations." Focused on technological progress and global strategic collaborations, String Metaverse is poised to revolutionize future AI-driven commerce and blockchain gaming industries.

(With inputs from agencies.)