Qihuo Technology announced that it has received tens of millions of yuan in angel round financing. This round of financing was led by Linear Capital, and the listed company Aoya Design followed the investment. After this round of financing, the company will focus on the research and development of underlying technologies, expansion of market operations, and construction of ecological scenarios, which is also the company’s re-financing success following a multi-million-dollar seed round.
Qihuo Technology was established in November 2020. It is the first batch of NFT technology research in China, and the first to build a Metaverse company that integrates trusted digital commodity casting, programming and virtual space construction overall solutions. As of May this year, it has served more than 1,000 companies, brands and individual art studios.
NFT (Non-Fungible Token) stands for irreplaceable warrant, which is the underlying technical protocol for encrypted digital commodities. Unlike virtual currency, NFT has real digital content as value support, and does not have any payment function and currency attributes, but it opens up a new market opportunity for digital content, so that digital content can be confirmed, protected and traded. In China, the most widely known and most popular form of NFT is digital collections, that is, content products such as music, pictures, videos, etc., whose rights are confirmed by blockchain technology.
In the first half of this year, digital collections showed a boom both on the market side and on the platform side.According to data from Caitong Securities, in January 2022, the total monthly issuance of the domestic digital collection market was only 45 million yuan. By April, the market’s monthly total issuance had jumped to 300 million yuan. At the beginning of May, China’s Li Ning spent 2.43 million yuan to join hands with foreign NFT boring monkeys and launched a number of co-branded products, which further heated up the market.
Up to now, there have been more than 100 digital collection trading platforms, and Alibaba, Tencent, Baidu, JD.com and other major companies with underlying blockchain technology capabilities have participated in them. The total monthly sales volume of collections often ranks among the top five in China. Its current customers cover IP, trendy games, music, sports, clothing and other fields, and help these users achieve continuous growth in digital content sales. Channels (Alipay, WeChat and digital RMB), blockchain payment oracles, intelligent sorting systems and virtual space technology provide users with a complete set of underlying infrastructure.
(Picture: Digital record confirmed by NFT)
“We are like Shopify, which provides website building tools for small and medium-sized e-commerce companies. Creators can concentrate on content creation. The one-stop NFT building tool developed by Qihuo Technology, Rarefy Rarefy, can help users complete a series of technical support. Let users simply drag and drop to achieve the desired effect.” Mars, founder of Qihuo Technology, told 36Kr that at present, the data storage market is more concerned about short-term price fluctuations, but they are more concerned about the programmable software created by this NFT technology protocol. Digital commodities, enabling the long-term benefits and future applications of the real economy.
(Picture: One-stop NFT tool Rarefy built by Qihuo Technology)
Mars said that foreign financial markets and NFTs are deeply bound, making the content creation ecology that should have been cultivated first give way to frenzied price speculation. He believes that the domestic market is more pragmatic and has more opportunities to return to the commercial value of NFTs, forming a rich Metaverse ecology. The current digital collections that have attracted much attention are just the beginning. In the future, more content creators and enterprises will realize the value that NFTs can bring. NFTs are digital collections now, and more programmable digital goods in the future.
A representative example is that Qihuo Technology has currently served more than 500 creative groups such as artists and studios. Most painters have the experience of serving Party A’s company, but in the encrypted space, they can freely distribute the created works of art, and can quickly obtain benefits through NFT technology confirmation. Moreover, its works are given ownership rights to the creators at the beginning of release, and even if they are transferred again in the future, the rights and interests of the creators can be guaranteed. This can be said to be a subversion of the traditional business logic that art can only obtain income through physical sales.
(Picture: Recommended works on the homepage of the crypto space platform)
In addition to the technical services for individual creators, the important business of Qihuo Technology also comes from the B-end market, including Shenzhen Symphony Orchestra, AW2022 Shenzhen Fashion Week, Red Star Macalline, World Illustration Competition, encrypted salted fish, virtual online Concerts and many other B-end enterprises and business scenarios. While completing the realization of online traffic through NFT data collection, you can also use offline scenarios to punch cards to obtain Metaverse medals and other gameplay drainage. These B-side landing cases further expand the practical commercial value of NFT data collection.
It is worth mentioning that Qihuo Technology will also cooperate with this round of financing and investor Aoya Design to conduct in-depth exploration of Metaverse content creation. In May of this year, Dream City·Qianxi City was released by Aoya. As the infrastructure technology side of the Metaverse, Qihuo Technology provided it with a large number of underlying technologies. This year, Aoya Design will also officially open the first online and offline gathering place of the Metaverse in China – the big silo, which will also use the Rarefy platform technology of Qihuo Technology.
(Picture: Aoya Design Big Silo)
Investor’s point of view:
Liu Mu, Executive Director of Linear Capital: Based on the OpenDID architecture, Qihuo Technology is committed to realizing NFTaaS: a SaaS tool that helps digital commodity issuers build NFT independent stations, allowing users to quickly manufacture digital commodities, program scenarios, and configure virtual bearing spaces. Development efficiency has been reduced from months to hours, and development costs have been reduced from 100,000 to 1,000.
At present, the domestic market for IP authorization, IP adaptation, and digital goods has reached a scale of 100 billion.Brands and consumers have rigid needs for new channels, new products, and new experiences. The market lacks a platform for casting, trading, and using digital goods that are technically democratized. Regional policies at home and abroad vary greatly, and conforming to national conditions is the key. Qihuo Technology has various major compliance license certifications such as the national blockchain information service filing, and its products are compatible with digital RMB payment in the future.
We believe that Qihuo Technology provides NFT as a service in a low-cost and efficient way to all brands or the best startups in the enterprise field that want to use NFT technology, which is an important linearity in the Metaverse and Web3 fields cornerstone investment.
Li Fangyue, founder of Aoya Design: At the first Hong Kong-Macao Greater Bay Area Metaverse Forum, Aoya Design and Qihuo Technology met. After listening to Qihuo Technology’s sharing of the Metaverse, Ms. Li Fangyue, founder of Aoya Design, was in less than half It took a month to conduct in-depth due diligence on Qihuo Technology, and found that Qihuo Technology has a high degree of synergy with Aoya’s subsequent digital transformation at the business level and exerting its creative design capabilities in the Metaverse industry. The two parties quickly reached an equity investment. Willingness to cooperate.
Since the beginning of this year, both the business volume of Qihuo Technology itself and the overall market of NFT data storage have shown a blowout growth trend. In a short period of time, the products of Qihuo Technology have made outstanding progress, and focus on the research and development of underlying technologies, expansion of market operations and construction of ecological scenarios. We also hope that we can join hands with Qihuo Technology not only in the field of digital collections, but also in the entire Metaverse industry.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/get-tens-of-millions-of-yuan-in-angel-round-financing-from-linear-capital-qinghuo-technology-wants-to-be-a-metaverse-infrastructure/
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