Business
Tripping Balls in the Metaverse – New Startup Wants to Make Psychedelic Trips in the Metaverse Reality
Would you want to be tripping on mushrooms and put an Oculus headset on?
The metaverse is the in-thing at the moment and it seems like everyone is getting their bit of it. A Miami-based psychedelic startup called Ei. Ventures recently announced that it will be getting in on the act. In its announcement, it disclosed that it had acquired a virtual land estate in The Sandbox. This space will be used by clinicians as they look to host therapy sessions on psychedelics in the metaverse.
This is definitely novel in a sense and there is much background to this new announcement. Read on as we expatiate on the background story about the announcement and what we can be expecting.
Overview
For those that are not familiar with The Sandbox, it is a virtual world where players create, own and monetize items on the Ethereum blockchain. Examples of items and experiences used in this world are NFTs and it is done over the Sandbox marketplace. The Sandbox itself is a branch of the popular gaming venture Animoca Brands which is based in Hong Kong. Virtual lands for meetings are also available on the platform for different groups to actively engage their audience which is what Ei. Ventures are keying into.
Ei. Ventures made the purchase of the 12-by-12 estate in The Sandbox alongside its parent company Orthogonal Thinker. The deal goes down as the third-largest virtual land sale in the metaverse and it is valued at $2.22 million. The parcel is set to be called PSLY.COM, which is the purported name of the merged company of both Ei. Ventures and Mycotopia Therapies. The estate consists of 144 pieces which makes it a sizeable investment by the companies and it looks set to be a monumental feat.
In an email, David Nikzad, the CEO of Ei. Ventures describes PSLY.com as an upcoming utopian space in the metaverse. He believes it will be important towards empowering people in a unique and dynamic way. The metaverse in itself is the future of interactions and communications and David believes it will help to improve how psychedelic therapy is rendered. Many moguls across different strata are already pitching their tents with The Sandbox and this is seen with some of their investments. Several land purchases on the Sandbox have followed the trend of Ei. Ventures. Atari purchased a record land of $4.3 million on the Sandbox metaverse which made headlines across mainstream media last November. Rapper Snoop Dogg and Hong Kong property tycoon Adrian Cheng have also recently made announcements about their plans to acquire lands to create their own worlds on the platform.
According to Nikzad, the decision to move over to the metaverse didn’t take long as just after a week on the Sandbox, he started seeing the future of psychedelic therapy on the platform. This is what birthed the move to take the combined effort of Ei. Ventures and Orthogonal Thinker onto the metaverse. This move by the two firms will give billions of people access to psychedelic therapy which many have been craving for. It also comes at an opportune time for Ei. Ventures as they are moving into a new phase of production. The firm is set to develop a psilocybin transdermal patch for clinical therapeutic applications. This is just one of the latest developments of the firm as it looks to scale up as the CEO has explained.
What to expect
The plans for the therapy sessions to hold on the platforms are still in the formative stage but there are some things that we can take away and hold on to for now. Nikzad explains that the company hopes to create a tremendous virtual reality experience for its intended audience when the program kickstarts. It will also feature virtual experiences of Hawaii, healing modalities, positive psychedelic trips and so on. Proper information and interactive sessions from experienced users will also be available.
A standout feature that the company plans to use the metaverse to achieve us guided therapeutic trips alongside the therapist in the virtual world. This will be a unique application of psychedelic medicine which is yet to be tapped into in recent times. This feature is intended to be applied in areas with legal psychedelic drugs such as Oregon and Jamaica. You can be sure that this new feature will attract the interest of many psychedelic users across different regions. This is because many have been victims of bad therapeutic trips due to the fact that they had no one to properly guide them and help them through it. With this new feature, those days can now be a thing of the past for most.
Economic opportunity in psychedelics
Gone are the days when people look down on psychedelics as a meagre and substandard sector in the economic view of things. Now it is classified under health and wellness following its growing acceptance along with that of cannabis. This health and wellness industry as we know is a trillion-dollar market for which psychedelics such as therapeutics based on psilocybin are gradually carving out their own niche. COVID showed us that there are abundant potentials in these markets and many are still leveraging on it till now. This is why a merger between Ei. Ventures and Mycoytopia, a research company focused on developing new therapeutics based on psychedelics is in the works. The company formed from the merger will also be called PSLY.COM and it will set the tone for many future endeavours by the companies.
Bottom line
The move by Ei. Ventures show that many firms and entrepreneurs believe in the potential and promise of psychedelics. It is only a matter of time before billions key into it and we have another replica of the cannabis industry on our hands. Truly, much of this is dependent on the presence of more clinical research and psychedelic therapists to promote the goodness of the natural drug. Till then, we can only hope for more positive moves like this both for psychedelics and its integration into the metaverse.
Business
Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light
Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.
India’s Indigenous LEO Satellite Vision
Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.
The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.
According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.
The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.
Regulatory Process Moves Forward
Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.
The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.
Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.
Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.
Broadband, Mobile Connectivity, and Strategic Applications
Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.
The company also intends to establish 20 to 22 ground stations across India to support network operations.
Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.
Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.
Major Step for India’s Space and Telecom Sectors
Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.
The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.
Business
Alleged Crores Pharma Scam Mastermind Arrested from Surat
After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.
Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.
Fake Business Deals and Dishonoured Cheques Used in Fraud
Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.
In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”
Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.
Multiple Identities and Repeated Fraud Pattern
Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.
Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.
Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.
Multi-State Surveillance Leads to Arrest in Surat
A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.
Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.
Growing Threat of Corporate Identity Fraud
The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.
Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.
Experts Urge Stronger Due Diligence in High-Value Transactions
Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.
Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
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