STEM Metaverse plans to launch NFT marketplace for students eyes net revenue of Rs 1 crore in FY23

STEM Metaverse Plans to Launch NFT Marketplace For Students, Eyes Net Revenue of Rs 1 Crore in FY23

STEM Metaverse aims to cloak a net revenue of Rs 1 crore in FY23, Ritika Amit Kumar, CEO, co-founder, STEM Metaverse told FE Education Online. The company declined to comment on profit or loss for FY23. The company plans to launch a Non-Fungible Tokens (NFT) marketplace for students by the end of September, 2022. Further, the company aims to raise fresh funds. “Our aim is to supplement the school education system to bridge the learning gap of children. We aim to make learning customized, experiential and world class,” Kumar said.

According to regulatory files accessed by business intelligence platform Tofler, the company’s revenue from operations declined 32% to Rs 73,376 in FY21 from to Rs 1.9 lakh in FY20. While the company’s net loss too declined 66% to Rs 76,169 in FY 21 from Rs 2.2 lakh in FY20. The company refused to comment on the financials of FY22. “We are at an early traction stage. Just started operations this year, and growing at a CAGR of 16%,” Kumar said.

STEM Metaverse claims to monetise through partnership with schools, corporates and distributors. It further earns by providing services directly to customers through its website and e-commerce. The average ticket price per course on the website is Rs 5,000. Kumar explained that the platform provides multiple intelligence-based STREAM learning courses to students. These courses include science, technology, reading, engineering, art, math, and mental health.

He further explained that the programmes are built using metaverse, virtual reality (VR), Web3.0 and NFTs which help students connect their learnings with reality and build for themselves by performing activities independently. “STEM Metaverse provides an end-to-end practical learning platform for students right from early years to grade 12,” Kumar said.

Further the company claims to have created a marketplace to provide courses, teachers, and other learning related products in an effort to cater to customised needs of students. Currently, the company claims to be partners with Trinity College London, Standards and Poor, Learn N Grow, Thinkstratup, Unitar, Wonder Lab, Curious Kids, Auro Scholar, among others. The company further claimed that schools such as Vasant Valley, Delhi Public School (DPS), Sushant Lok, are among its customers.

Courtesy : Financial Express

Leave a Reply

Your email address will not be published. Required fields are marked *