Is what the Metaverse is going to replace the real world or the internet world?
In previous technological innovations, the previous generation of giants was often embarrassed. And the competition in the Metaverse will be the “hereditary” of the overlord, or the “transition” of the rookie?
If it is said that there is a “singularity” moment in the Metaverse, is this process of infinitely close to qualitative change fueling the industry, or is it “burning money” excessively?
Every business innovation is accompanied by draughts and traps, ideals and secularism, morality and evil.
Whether the giants can achieve industry leadership in the Metaverse competition depends on their ability to handle these three core issues.
When Facebook changed its name to Meta, and demonstrated the vision of the future virtual space at the press conference.
When Microsoft invested 68.7 billion US dollars to acquire Blizzard, recharge the Metaverse, and declared to the world with “money power”: “Heroes are immortal”.
When Nike began to use a pair of digital sneakers to describe its own virtual business empire.
Some people see bloody capital, some people see a living future.
Few people remember that 20 years ago, Bill Gates was asked by the media what was the difference between watching a football game on the Internet and listening to the radio, his embarrassed but polite smile.
“Avalanches” appear time and time again, but they never destroy the Internet. On the contrary, it brought a new world: an era of rapid progress, and gave birth to countless wealth-making myths, advanced formats, business models and lifestyles.
In the face of huge changes, hedging risks and inspiring people to forge ahead are both opportunities and responsibilities for giants.
This time, the giant is facing the Metaverse. It’s more complicated. It is not only necessary to build consensus with real money and silver, but also to give a clear choice and response between the “red pill” and “blue pill” for the industry and the public.
The essence of Metaverse competition is a “time war”
The Metaverse masterpiece “Avalanche” came out in 1992.
That year, Jack Ma founded Haibo Translation Agency, and he began to think about “running a bank”. Liu Qiangdong had just become the top student in the college entrance examination in Suqian, and the deputy county magistrate personally sent red flowers into his home. Li Yanhong, who was studying in the United States, was questioned by the professor: Does China have computers? Ma Huateng designed a software to analyze the stock market and earned the first pot of gold in his life. Zhang Yiming just turned 10 years old, Zuckerberg is only 8 years old.
10 years later, Jack Ma conspired with 12 Arhats to launch a website called “Taobao” in the building in the lakeside garden.Liu Qiangdong sold CDs in full swing in Zhongguancun. Robin Li and his Baidu have just secured the number two spot in the global search engine. The QQ show is still in preparation, and Ma Huateng may not be aware that it is about to become Tencent’s most profitable business. Zhang Yiming has just switched from microelectronics to software engineering. While programming at Nankai University in Tianjin, he helped girls repair computers while taking on outsourcing projects to start a business. Zuckerberg started Facebook to find out how many beautiful women Harvard has.
30 years later, everyone “gathered together” to hunt the Metaverse.
Drawing: Yibang Power Source of information: Media public information
What kind of arena is the Metaverse? Why did the giants enter the game at all costs?
The words of Luo Yonghao, who successfully repaid debts with goods at the end of the universe, may be more sexy than the description of the Metaverse in “Avalanche”:
Humans have misunderstandings about the Metaverse. Most people think that the Metaverse is a virtual world, but the real Metaverse is not a space, but a singular moment. For example, the moment when artificial intelligence is smarter than human beings, the moment when people’s digital life is more valuable than physical life.
He even did not forget to make fun of Zuckerberg and Meta, as he said to the “subsidiary” Apple:
Shaan Puri’s understanding of the Metaverse is much more reliable than Zuckerberg’s. From this perspective, much of what we do in the tech industry in the future will inevitably lead us to this Metaverse, whether we like it or not.
This unique cognition has led the giant to see a novel competitive route. That is, the Metaverse is a “singularity” moment.Before the arrival of the singularity, people were more willing to believe that there was a boundary between the real world and the fake world. After the singularity, it will be difficult for people to separate the real world from the virtual world, and it is more likely to devote more time and energy to the virtual world.
Yes, in order for the Metaverse to become a revolution, it must first aim in the direction of “revolution”.
This direction is the user’s stay time in the Metaverse.
Moreover, the Metaverse essentially preempts or replaces PC and mobile phone time, not real-world time.
Obviously, the way to enter the virtual world is different, and it is most likely not a computer or a mobile phone, but a VR or other wearable device.
As we all know, the Internet economy is the attention economy, also commonly known as the “eyeball economy”. When your eyes are “monopolized” by a pair of glasses or a helmet, you naturally have no time to take care of other terminal devices.
Here’s an obvious example. Metaverse game company Roblox launched a program in 2020 to pay developers rewards based on user stickiness based on the time players spend in the game experience.
Roblox was Wall Street’s well-deserved fried chicken last year. Riding on the rise of the Metaverse, the digital entertainment company debuted on the New York Stock Exchange in March 2021, up 129% for the year. With a current market value of around $51 billion, the stock is the No. 1 gaming company in the United States.
Roblox’s business model is that developers use the engine and tools provided by the Roblox platform to continuously create content, attract players to play on the platform, and build social relationships with other players. Developers need to create more application scenarios to improve the user stickiness and usage time of the entire platform, so as to obtain more benefits.
What Roblox embodies is just one of the Metaverse scenarios. From the current plan of Meta, the Metaverse is a three-dimensional digital space that is closely related to the real society.
Not only entertainment, as long as the technology is mature, it may include a person’s social interaction, work, study, and consumption behaviors that may be realized in the Metaverse.
Mouse and touch screen were once the proud applications of Jobs in IT products. As great as he is, he is constantly innovating himself at the interactive level to return to his nature and free his hands. And when you put down the mouse and touch screen, and put on the VR headset, it also means goodbye to the past terminal.
Can no longer interact with users, this is probably a tragedy that all giants do not want to happen. Yes, Nokia is still staring at you every day from the old crooked neck tree behind the palace.
Therefore, regarding the definition of the Metaverse, aside from those disturbing concepts, we prefer to understand it as:the process of users’ work and consumption time in the virtual world surpassing the traditional Internet world.
First of all, in this new definition, the importance of users as the core participant is introduced for the first time. Instead of repeatedly entangled in “virtual or reality”.
Second, notice two key time dimensions – working time and consumption time. Yes, in the Metaverse, there are bound to be two formats of toB and toC, that is, a production-oriented Metaverse and a consumption-oriented Metaverse. Both formats revolve around user time. It is nothing more than the difference between prolonging the consumption time and improving the efficiency of use.
Finally, it’s about the “singularity” or “tipping point”. It’s a process that doesn’t happen in one step. Certain conditions must be met in order to pass through.
And if the giants want to continue to maintain their leadership in the Metaverse, they must have such conditions. We will explain this later.
Well, let’s get back to the point: the essence of Metaverse competition is that giants continue to occupy user time.Does it sound familiar?
Yes, Luo Zhenyu, the founder of Get, put forward the concept of “total national time” a few years ago. You can understand the war in the Metaverse as a continuation of the national total time war. However, this time, the scope will be larger, and it will affect users around the world, rather than a certain country or region.
This is also why the outside world is always controversial and vigilant about the Metaverse.
Because it does have the potential to be old wine in a new bottle, and no one wants to wear new shoes and go the old way.
But the urgency of the fact is proclaiming to the world: what is dragging the world into the battlefield of time war step by step? No matter how vigilant companies and individuals are, they still inevitably go to the center of the vortex. What is the root cause? Is this a self-directed and self-acted destruction, or a reborn rebirth?
The “Justice” of Metaverse War
War in the Metaverse is imminent, but it lacks a “sense of justice”.
Thirty years after the release of the masterpiece “Avalanche”, the Internet is becoming ordinary, losing its magic power, and even becoming the public enemy of the whole people.
Therefore, when the Metaverse begins to step into the vision of the big guys, let’s take a look at the voices on the Internet: “The Conspiracy of Sin Capital”, “The Real Matrix”, “The ‘money game’ of anesthetizing young people””…
This is the era of digital equality, where people can express their opinions on tech giants, and the “elites” have to learn to make friends with their audiences, not look down on them. However, how to find rationality among the various opinions is a necessary condition for the giant to become famous.
So, what is the significance of this war on “future time” in the Metaverse?
Turn off the noise, let’s focus on the analysis: Does the Metaverse bring stock or increment?
Among the many debaters on the pros and cons of the Metaverse, science fiction writer Liu Cixin’s remarks were widely circulated.
“The Metaverse will lead humanity to a dead end.” Thrilling enough, and compelling enough. This sentence was later interpreted by the media as “the Metaverse will be an involution of the entire human civilization”.
Liu Cixin’s remarks obviously expanded the battlefield of the Metaverse to the realm of human destiny.
In his view, the Metaverse is a very seductive, highly hallucinogenic “spiritual opium”. He worries that many people will be immersed in the virtual world and rest on their laurels.
Liu Cixin’s radical evaluation is that he advocates human beings to explore the real world. he thinks:
The future of human beings is either to move towards interstellar civilization, or to indulge in the virtual world all the year round. It would be a disaster if humans achieved a highly realistic VR world before they went to space civilization.
The same opinion leaders also include Elon Musk, the new richest man in the world. He tweeted bluntly that the Metaverse now looks more like a buzzword than a reality.
However, is there really no point in exploring the virtual world compared to exploring the Martian universe?
In fact, Musk was the first to adopt digital twin technology, which opened the era of the aerospace industry Internet. In layman’s terms, it is to use virtual digital technology to simulate the operation results of spacecraft in the real world.Measure first in the virtual world, and then practice in the real world. This methodology reduces the trial-and-error cost of XSPACE rocket launches to 1/10.
It can be seen that the giants will not exclude new technologies and new concepts. They only care about how to effectively integrate with the industry they are engaged in and bring about increments. If the industry wants to innovate and change, digital technology is indispensable.
Therefore, in the exploration of the Metaverse, we should clarify the direction of the mainstream opposition. rather than outright denial.
In the Metaverse, what we should be wary of is the way capital and giants pursue growth, not the direction in which it continues to seek growth.
For example, in the current virtual reality, audio-visual entertainment and games are widely used. It seems that the market has broad prospects, but it is more the migration of the original traditional Internet, not the increment. As for speculative behaviors such as mental hypnosis, money speculation and property speculation, not to mention.
Correspondingly, from the level of the natural expansion of the Internet, the real increment can be traced.
Spatially, the Metaverse transforms the flat internet medium into an immersive, multi-dimensional scene. This is the inevitable result of the development of Internet technology and digital twin technology. Creating a new virtual space can further break the limitations of physical space. For example, in the Metaverse conference, friends from all over the world can conduct meetings in virtual space through virtual images, which is obviously more advanced than video conferences or teleconferences.
In terms of time, the mobile Internet makes a person’s work time and life time more inseparable; the next step of the Internet must be to further break the boundary between the two. The production Metaverse and the consumption Metaverse also further penetrate into the user’s moment.
From the perspective of the crowd, the simulation of the Metaverse to the real world determines that the interaction cost is lower. For example, eye tracking and gesture operations will become mainstream, which will allow more people to accept them.
The above dimensions reveal that the Metaverse is the embodiment of the higher development stage of the Internet, and its emergence is inevitable for expansion. The expansion also brings the emergence of incremental.
For example, some of the innovations in the fields of social networking, office, virtual consumption, and content IP are indeed beyond the reach of the original traditional Internet. This is the increment in the consumption Metaverse.
At the same time, in the production-oriented Metaverse, applications such as collaborative office, virtual design, and digital twinning can generate greater output value.
In addition, the decentralized intellectual property structure brought by Web3.0 technology makes production, circulation, transaction and consumption more fragmented, thus creating more new opportunities for efficient matching. The fusion of the Metaverse and the real economy can also generate larger increments.
Therefore, the sense of urgency in reality is not as simple as the fact that giants do not have traffic dividends.
The internet has to go to the Metaverse. The time competition around the Metaverse is a new incremental space opened up after digitalization goes deep into the application layer.
Looking back 10 years ago, we entered the mobile Internet unconsciously. While we admire the beauty of Apple’s mobile phones and envy the sense of superiority that the rich have in their hands, we despise the Nokia and the damn Symbian system in our hands.
Back then no one chanted to be wary of the mobile internet pitfalls.
Take a look at the industry’s praise for Apple at that time: it was epoch-making, it was recorded in history, and it was revolutionary. Just like the rebelliousness of “Big Brother” in the “1984” commercial, the call to smash the old world and enter the new world pours out from the screen.
Mainstream tech circles, Internet circles, celebrities, celebrities and other high-level people have always been fans of technology. Apple, Product Manager, User Experience, The Guide to Becoming an Entrepreneur. Until recently, I could even see the new energy vehicle brand “Ideal” packaging its boss as a Jobs-style “product tyrant”.
Jobs and his Apple, because of the iPhone4, stood at the intersection of technology and humanities, and took the crown of the mobile Internet.
Today, Apple’s market cap tops $3 trillion. Become the industry leader and one of the most profitable giants, and also announced the release of AR glasses and entered the Metaverse. Will it also bear the infamy?
The key element of giant competition: VR! Entrance! Social ecology!
On Christmas Eve 2021, Facebook finally let out a bad breath.
Meta (Facebook)’s VR headset app “Oculus” topped the App Store’s free download list in the US on Christmas Day, surpassing TikTok.
Image source: App store
This is Facebook’s most powerful counterattack against TikTok at the market level since it changed its name to Meta.
Before that, the existence of TikTok had given Facebook a thorn in the back.
Putting aside the competitive environment between China and the United States, TikTok already has 1 billion global active users in 2021, and it surpassed Google in one fell swoop in December to become the world’s first platform with annual traffic. According to a recent report from analytics firm App Annie, TikTok has upended the streaming and social ecosystem. The data shows that in the US and UK, users spend more time on TikTok than YouTube on average.
Such growth has made Facebook uneasy.
Therefore, the Metaverse has actually allowed the giants to alleviate the anxiety of growth to a certain extent, and even brought new hope.
The data also shows that the Oculus Quest 2, a VR headset acquired by Facebook, became the most popular gift this Christmas, surpassing even the Xbox and PlayStation.
That’s why Apple is also joining the “Metaverse” bandwagon. Not just Apple, Google, Microsoft, Nvidia, Huawei, Xiaomi, Alibaba, Tencent, ByteDance, Baidu, and even Luo Yonghao, no one among the super giants wants to miss this round of competition.
However, the focus of the competition turned out to be the “resurgent” VR, AR and MR.
Is this frying rice?
Let’s start by looking at why the Oculus Quest 2 is so popular.
This product has now shipped more than 10 million units worldwide. It is also the VR all-in-one headset with the highest market share in the world.
What is a VR all-in-one machine? Here we have to focus on explaining this product concept.
Earlier VR devices had to be operated through a built-in mobile phone or by connecting to a PC for streaming. This also means that VR is just an immersive display without independent computing power.
With the maturity of chip performance, gesture capture, 6dof tracking and other technologies, devices that integrate display, computing, data, interaction, system, and software have begun to appear.
The Oculus Quest 2 is one such product. As long as users wear the VR title, they can run the applications in it independently, and are no longer limited by the link restrictions of other terminals, and can even operate directly through virtual hands. The emergence of all-in-one PCs marks that VR is no longer an enhanced display for mobile phones and PCs. As an independent computing terminal, it has to be torn, cut, and even replaced with the “parent”.
This is why, as mentioned above, we think that the war waged by the Metaverse is first and foremost a time grab for mobile phones and PCs, rather than a direct grab for real world time.
Because VR equipment is very likely to become a replacement for mobile phones and PCs. Just as mobile Internet terminals such as mobile phones and tablets gradually swallow up the usage time of PCs.
It’s not just about logic. Facts are happening. ByteDance invested 9 billion to acquire Pico, the first brand of domestic VR all-in-one machines. Huawei smart VR glasses will come out at the end of 2021. In a secret R&D base in the San Francisco Bay Area, Google CEO personally took the lead and led 300 Google employees to prepare for AR projects directly against Meta. Apple also plans to release AR headsets in the fourth quarter.
Drawing: Yibang Power Source of information: According to public reports, the core information of Apple AR products
Drawing: Ebang Power Source: Apple CEO Cook’s public remarks
While Cook doesn’t say a word about the Metaverse, it’s clear that Apple is the tech giant least willing to lose the war.
Because we all know who it killed.
Clearly, tech giants need to know exactly what they’re fighting for to ensure their leadership continues.
Whether it is a VR all-in-one machine or AR glasses, its essence is the flow entrance of the Metaverse.
Therefore, “VR is the next generation of terminals! It is also a revolutionary product!” You may soon be able to hear such a voice.
In addition, the operating system and content ecology will also become a point of contention for technology giants.
The first is the operating system.
Like Windows and Lunix, iOS and Android, the system war is as exciting as hardware.
It must be known that although Facebook is the largest social application in North America, it is limited by the mobile Internet operating systems controlled by Google and Apple, and has to pay more than 30% of the fees to the latter each year.
A Financial Times investigation found that Facebook, Snapchat, Twitter and YouTube will collectively lose about $9.85 billion in lost revenue in 2021 due to Apple’s tightening of user privacy and data oversight. According to Beluga’s survey report, before and after the iOS update, Facebook’s return on ad spend decreased by 29.53%, while the CPM cost increased by 28.30%.
Image source: Beluga go to sea
But Facebook couldn’t do anything about it. Faced with the world’s two largest mobile operating systems, it has no right to bargain at all.
To this end, Facebook is working hard to create an operating system that can adapt to the Oculus quest series, because it is still using the open source version of Android.
Therefore, giants do not have absolute advantages in all fields. In the field of cross-border e-commerce that we are familiar with, Facebook is the traffic hegemon, but at the operating system level, Xiao Zha is really a “scumbag”.
This is why Zuckerberg does not hesitate to invest more than 10 billion US dollars every year, all in the Metaverse. Its purpose is not just to create new business empires and money-making tools. He must first use the rise of VR all-in-one machines to get rid of the control of Google and Apple, and then achieve self-reliance and control his own destiny.
Of course, the battle and competition between technology giants at the application level will be more intense. The production Metaverse and consumer Metaverse we mentioned earlier will have multiple applications in social, office, design, education and other scenarios.
Among them, social and content applications are destined to become new battlegrounds.
In fact, on the mobile phone side, the value and influence of the social content ecosystem is surpassing the mobile operating system itself.
Some powerful apps, such as WeChat, Douyin, Facebook, TikTok, etc., are operating systems. These applications are no longer just a social tool or a content publishing platform, but a whole of the user’s clothing, food, housing and transportation, and the most “killing time”.
In the words of Zhang Xiaolong, the product manager closest to God: WeChat is a way of life.
Therefore, social networking and content are the two major traffic portals of the mobile Internet at the application level, and they are also the all-encompassing infrastructure and underlying architecture for building the underlying ecology.
Judging from the two ecological applications currently built by Oculus – Horizon Workrooms and Horizon World – they are basically built around users’ social interaction in office scenarios and daily life scenarios.
It is especially important to remind that users in Oculus must log in with their Facebook account. As long as it is authorized, during the use process, Oculus will recommend various interest applications to you based on your data behavior on Facebook. You can also add Facebook friends to each other in the virtual office space or playground, and know which Metaverse application scenario your friends are in at any time.
User IDs and social relationship chains are constantly migrating from PCs and mobile phones to the Metaverse. Next, each user can take photos and videos in the Metaverse, and even build the “world” and “city-state” they want.
All business opportunities are built on a honeycomb-like chain of social relationships.
Remember the early days of shakes and drift bottles? Let’s take a look at the hottest micro-business, social e-commerce, private domain traffic, short video, applet, and live e-commerce.
Who would have thought that was the beginning of an “empire” when your hormones were constantly pumping up?
How can giants achieve industry leadership in the Metaverse?
In 2014, when Nokia’s then-CEO Jooma Ollila announced at a press conference that he agreed to Microsoft’s acquisition, he finally said:
“We did nothing wrong, but somehow we lost.”
In hindsight, it seems like all of us know where Nokia lost. Only Nokia doesn’t know that.
As the banner and benchmark of the industry, giants must be able to maintain the industry leadership for a long time. In a day of precariousness and increased uncertainty, it’s even harder.
But the giants must be sober and accurate to find the right path.
If the Metaverse is an advanced form brought about by the expansion of the Internet, then, for giants, at least six core strategies are still valid.
1. Establish a world-class Metaverse entrance. As described in the previous section, the importance of the battle for entry is unquestionable.
Meta’s current market value is around $1 trillion, while Apple’s peak has reached $3 trillion.
This is the gap between a social application and an ecological entrance.
The success of Apple’s business model has been described as a “vertical integration” strategy.
The so-called vertical integration is not only after Jobs returned to Apple and cut off countless product lines, focusing on Mac, iPhone and iPod. More importantly, Jobs asked to independently develop Apple processors, build Apple stores, and independently develop Apple operating systems and core apps.
Vertical integration has actually been the norm since Ford pioneered standardized industrial production. The reason why Apple is so powerful is that it has developed the “reverse blade + knife holder” model. That is, it boldly adopted the profit model of selling hardware products at high prices and providing services and software at low prices, thereby overturning the traditional manufacturing model of “blade + tool holder”.
It is Apple’s integration of user experience, hardware, software, and operating system that enables this master to become the overlord of the mobile Internet era, and to become the “culprit” of Nokia, which also makes software services such as Microsoft and Google feel uncomfortable.
But Apple’s attitude toward the Metaverse is more ambiguous. In contrast, Meta went all out, and Zuckerberg looked like “I won’t come back if I don’t get along well”. Therefore, in the competition and confrontation for the ecological entrance of the Metaverse, these two big factories are probably the most likely to stage the drama of sky thunder and earth fire in the future.
2. Seize the window of opportunity for domestic replacement. China’s market is large enough to develop the Chinese version of intelligent hardware, software and ecology as soon as possible to become a national user-level product.
Lei Jun once successfully played the Chinese version of “Jobs”, capturing the entry-level and ecological-level changes in the popularity of smartphones in China. At the VR level, just as Xiaomi, Huawei, OV, and Hammer mobile phones have replaced Apple in domestic mobile phones, the opportunity to replace Oculus and other overseas all-in-one machines still exists.
In China’s VR all-in-one machine market, the company that runs at the forefront is the famous “Pico”. It has now been wholly-owned by ByteDance.
Judging from the current layout of Pico, it has its own equipment, as well as its own content ecology and user community.But it lacks Facebook’s social ecology. This also means that the user has to re-establish a new connection in Pico.
This is the same logic that Xiaomi’s Mi Chat was killed within 3 months by Tencent’s blessing of WeChat.
Of course, ByteDance’s involvement may make Pico different. After all, Byte is one of the most growing internet companies in China right now.
3. Take the road to drive and do the application of the Metaverse. In the existing Metaverse system, build your own software, content, IP, digital assets, and user assets, and apply them to the business itself.
It’s not that you have to rely on others and look at people’s faces when you make application software. WeChat and Douyin are still national-level apps, with more than one billion users and huge influence.
Drawing: Ebang Power Data Description: The data comes from the compilation of public data at the end of 2021
Drawing: Ebang Power Data Description: The data comes from the compilation of public data at the end of 2021
In the Metaverse, because a lot of development energy has been invested in the two stock markets of games and entertainment. Therefore, top apps such as WeChat and Douyin have not yet appeared, and even in the Metaverse, even the most basic functional software is not very complete. It can also be called “Blue Ocean”. WeChat doesn’t want to miss it, Douyin doesn’t want to miss it, and all the tech giants don’t want to miss it.
4. To strengthen the Metaverse social. Needless to say, become WeChat or Facebook in the Metaverse.
5. Create brand digital assets and target new business monetization models. If social traffic is the source of all traffic, then e-commerce is the end of all traffic. But e-commerce in the Metaverse is definitely not just virtual shelves, or virtual anchors live streaming.
The most likely business explosion in the Metaverse is to combine new technologies such as Web3.0, blockchain, and NFT to establish a new business model around “decentralized logic”.
Web3.0, blockchain, and NFT will bring about a new situation in which everyone is a producer, owner of property rights, and holder of commercial interests. This breaks the Web 1.0 era, where portals produce content in one direction, and users accept content in one direction; in 2.0 era, users produce content, and the platform owns the basic model structure of content. After the chain, no matter how small an individual may have their own digital property rights.
Therefore, e-commerce transactions will not only revolve around the right to use, but also around the ownership .
Correspondingly, IP design creation will become an important productivity of the Metaverse.
In December last year, sports brand giant Nike Inc (Nike Inc) settled in Roblox to build a virtual world “Nikeland”. In this Metaverse community, there are a variety of Nike sneakers, apparel and accessories, including Air Force 1, Nike Blazer, Air Max 2021, Mercurial, and more for players to try on.
According to public information, Nike’s layout for the Metaverse began as early as November. Nike has filed seven trademark applications for digital products.
In addition, Nike announced the acquisition of virtual fashion brand startup RTFKT.
Where is RTFKT sacred?
You can understand it as “Nike” in the Metaverse.
RTFKT gained fame last February when a photo of Musk wearing CyberTruck-style sneakers went viral. Many people are amazed by this pair of very sci-fi style sneakers.
In fact, the sneakers were synthesized by RTFKT’s design team on Musk’s feet through PS. RTFKT auctioned this pair of sneakers on the NFT trading platform SuperRare at a price of 30ETH. When the bidders realized that this pair of shoes was PS, the bidding once reached 65ETH.
Not just Nike. Adidas has also reached cooperation with digital virtual companies such as BAYC, PUNKS Comic and Gmoney.
In the field of beauty makeup, L’Oreal Paris collaborated with 5 female artists to create and launch an NFT lipstick, Reds of Worth NFT, which was auctioned on OpenSea, with a minimum starting price of $1,500 for each NFT. Earlier, international brands such as Clinique, Givenchy, Givenchy, and Nivea, as well as domestic first-line brands such as Natural Hall, also launched a series of NFT products.
It can be seen that the Metaverse is not necessarily just a feast for platform companies, and brand companies should also think about how to enter the game.
They may not be the main entrance to the Metaverse, but they can still recombine and re-operate their own assets through digital means, increase user stickiness and usage time, and fill in the platform giants’ deficiencies at the content and scene levels.
Therefore, it is necessary for brand owners to explore early in the fields of intellectual property, IP derivatives, data assets, and 3D design. This also means that consumer goods companies have stronger content development and operation capabilities in the Metaverse than in the era of short video live broadcasts.
6. Seize the opportunity to produce the Metaverse. ToB products and services provide solutions for the digital transformation of enterprises.
Yes, there are many hidden opportunities around the Metaverse.
For example, in the industrial design unit, many production, manufacturing, design, and testing links can be realized in the Metaverse. In the office scene unit, a large number of tools and solutions based on conference scenes will also be deployed rapidly as competition intensifies. Even including the aforementioned – Musk used digital twin technology to start a wonderful journey in the aerospace industry.
Just in January this year, a VR technology service provider called “Feitian Yundong” tried to become the first stock in the domestic Metaverse. Seen in its prospectus:
By cooperating with media platforms or their agents, it provides customers with solutions such as placing AR/VR interactive content advertisements. Feitian Yundong charges customers according to service results (such as marketing performance). So far, it has served more than 40 advertisers.
For example, Feitian Yundong has used virtual reality technology to restore the official store of a well-known international sports goods retailer. The display and layout are 1:1 restoration, which effectively reduces the training cost of brand store design.
Since the Metaverse is still far from the application level in terms of technological maturity, that is to say, there is still a window period in each of the above fields.
Giants have absolute opportunities to dominate and speak. Even Nokia, who doesn’t know how to lose, should see how to win in the future.
How can the dominance of the giants in the Metaverse not be overthrown?
This label that makes the giants talk about it will be the first to be attached to Meta in 2022.
Who would have thought that the advocates of this Metaverse would be investigated by the US Federal Trade Commission for suppressing and plagiarizing developer applications.
Coincidentally. On December 22, 2021, in Horizon World, a Metaverse application built by Meta, a woman in North America was touched by other male users in a virtual space – even though it was an avatar – but this still made She felt threatened and uncomfortable.
After receiving the complaint, Meta immediately launched a protection function for users to avoid similar embarrassment from happening again.
Technology does not necessarily bring civilization. In the new world opened up by the Metaverse, all the rules are vague. It also made all parties anxious. How is the policy regulated? How are laws made? Will the original values be destroyed? Will the moral system collapse?
In today’s public opinion environment, being a giant is not something worth showing off.
Whether it is global anti-monopoly or the people’s desire for common prosperity, giants become cautious in everything they do.
In the Internet age, giants also feel the embarrassment of the end of the road. Therefore, how to handle the relationship with all new things and advanced technologies such as the Metaverse has become more delicate.
Fortunately, in reality, all parts of the world have gradually figured out how to get along with the Internet. Giants have also begun to reflect on their own significance.
After 2021, giants need to find new missions and create new value.
As one of the models of the new economy, technology giants need to re-evaluate and design the sense of participation and voice of the community of interests. In addition to business success, it is also necessary to consider the boundaries of technology, the diverse roles of society, and policy risks. Prevent the CEO moral hazard and CEO cognitive hazard that often arise in corporate governance structures so that they do not get out of control in the exploration of new areas such as the Metaverse.
In this process, giants need to stay awake and know what role they should play in the entire chain. They are not necessarily technology stars, the proud of the sky, they do not need to assume the image of subversives, and they should not pretend to be bigwigs.
Only by maintaining awe and humility towards the unknown can it be possible to maintain the justice of the Metaverse.
The Metaverse is giving the future a new sense of business order. The result of the reorganization of the order should be to let more companies and consumers feel the inclusive benefits of new technologies, rather than being self-reliant.
If the giants continue to show a strong offensive momentum, it may cause global vigilance and disgust. In the end, it will also be counterattacked by its own power.
We have seen a possibility from past business changes. That is the power of business de-neutralization and the innovation of technological equality.
Drawing: Ebang Power
Vertically integrated companies such as Ford and Apple are symbols of greater efficiency in the market. However, with the advent of the Internet, the transaction costs of various services have been reduced rapidly, and the scale of enterprises has also begun to gradually shrink.
Today, whether it is social e-commerce, live broadcasters, or new consumption, they are all atomic deconstruction of traditional business formats. These emerging formats often originate from grassroots and move from the edge to the center of the stage.
Of course, lowering the threshold for business participation may not necessarily bring high-quality business results. Both the likelihood of entry and the risk of failure are growing systematically.
In this regard, the giants should have a keen insight into this. Actively support the innovation and cultivation of small, medium and micro enterprises, and use existing capital, resources, capabilities and organizations to guide high-quality growth, thereby forming a benign ecology that promotes and restricts each other. This may be the new meaning of the Metaverse.
On the other hand, the Metaverse is currently more enthusiastic among the elite and younger consumers. In the face of global diversity and complexity, the Metaverse also needs to play a role in bridging. How many developing countries and regions can enjoy the dividends of the Metaverse and participate in the construction of the Metaverse to stimulate economic growth will also become a new topic.
Giants need to lead the Metaverse in dialogue with this world
In 2013, Apple decided to do away with the classic skeuomorphic design.
You know, Steve Jobs and iOS founder Scott Forstall were fans of skeuomorphism. Instead, Apple chief designer Jony Ive advocates flatness. The intensifying debate continued until Jobs died and Foster stepped down.
Drawing: Ebang Power
As for what should be closer to the truth? Or is it closer to virtual?
Such debates have never ceased since ancient times. Whether it is the “Shadow of the Cave” in Plato’s “Republic”, or the man-machine war in “The Matrix”. It is both a philosophical myth and a scientific conjecture.
The Argentine poet Jorge Luis Borges once described in his work:
The Empire created a map whose size, shape, and level of detail were the same as the Empire itself, almost a replica of the Empire. Years later, the empire crumbled and fell apart, but the map remained intact.
Will the Metaverse really disintegrate the real world step by step?
It makes us both excited and uneasy. In fact, we are concerned about the risks and uncertain benefits of new technologies.
If people believe that risks will occur in the short term and benefits can only be obtained in the long term, they are likely to oppose new technologies. Tensions are greatly exacerbated when it is believed that innovation benefits only a small number of people and risks are widely distributed.
Therefore, the public needs to have a clear understanding of the value created by the Metaverse, especially the incremental value, and the roles of giants and different companies in it.
This is the value of business leaders, who can represent more stakeholders, brave new worlds, draw new territories, and create new species. At the same time, it also bears corresponding responsibilities and risks.
More importantly, business leaders must make effective risk communication in order to ease tensions in all sectors of society.
Drawing: Ebang Power
The public needs to know:
Is the Metaverse dominated by giants innovation or restoration?
Is the competition in the Metaverse a stock involution or an incremental explosion?
The giant wants to ensure the industry leadership of the Metaverse, what should it inherit? What should be changed? What to break through?
This is also the meaning of this article.
As Schumpeter once pointed out in The Theory of Economic Development:
“Innovation is not incremental improvements in the same curve, but a new combination of curves from one curve to another.”
The Metaverse is both the past and the prologue.
Image source: An interview with Zhang Chaoyang of China Business News in 2004
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