In the eyes of investors, Metaverse is not “what”? Which eight areas should you focus on?

With the continuous development of 5G, artificial intelligence technology, blockchain technology and other technologies and the continuation of the epidemic, many people’s life scenes have changed from offline to online, and the concept of “Metaverse” has also attracted more and more attention.

From 2021 to 2022, the Metaverse will be popular at home and abroad, from digital people to VR/AR, from Metaverse social to games, from marketing to NFT digital collections, there will be more start-up companies emerging, and many investors will deploy this field.

What is the Metaverse? What business and investment opportunities are there? What are the potential risks? How far is the Metaverse from the real life of the wider population?

IT Juzi invited Zhu Chuntao, a partner of Chuangxiang Investment, to participate in the salon event of “Metaverse Entrepreneurship Opportunities and Risk Exchange”. Mr. Zhu has more than ten years of experience in the entertainment industry, six years of self-employment experience, and more than eight years of early investment experience. He has worked in such first-line Internet companies as Kingsoft, Tencent, and NetEase. His industry and channel resources are very deep, and he has a deep understanding of games, cultural and creative industries and the Internet industry. He is good at digging out some potential projects and integrating resources in the field of cultural and creative industries.

The following is the original speech:

This time, I mainly talk about these things from the perspective of investment, especially such as VR and offline IP authorization. We invest more in these. For example, there are quite a lot of products on PSVR and QUEST. The project works that we have invested in, they have also made their debut on PSVR. The companies we have invested in include the VR offline store of the relatively large chain in China – Immersive World , IP licensing, including Dunhuang, National Museum, Shanghai Bo, Subo, and the IP of the Hermitage are actually the companies we invested in that operate behind the scenes. The main market investment is still investing in cultural consumption and technology plus industry. We are a sub-fund invested by Shenzhen Angel Fund of Funds, and it can be regarded as an early investment institution that has been commended by the government.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

In fact, I think the Metaverse is still a matter of the new generation of mobile Internet. When did the mobile Internet start?

In fact, it is very early to start counting from 2G, because it is a digital wireless network. If it is done from wireless applications, in fact, we started with the wap browser. At that time, we may have the impression of using a wap mobile phone to surf the Internet. At that time, it may not be as convenient as today’s smartphones to surf the Internet. It may be a browser, Symbian or Blackberry, or Nokia, but in fact, none of the above are the mainstream devices at that time.

Most people may think that the mobile Internet started with the iPhone, but in fact, the iPhone that everyone knows may have come out more than ten years after the emergence of the BlackBerry, that is, eight years after the emergence of the web. 2G networks have been around for almost 20 years. In fact, basically the mobile Internet has passed (if it starts from mobile phone calls) more than 30 years; if we look at the 2G network, our basic vector data communication, it is actually more than 20 years.

The logic of this matter is that we can actually determine the generation time of a certain technology, and the investment, testing and deployment time of some technologies are certain, but it is difficult for us to determine when and how the era came into being. Because the era requires multiple technological changes to be finally realized, it cannot be produced by a single technology.

As shown in the picture below, Big Brother was actually considered mobile at that time, then to BlackBerry, and then to iPhone. Because the era involves many independent technologies, including its industrialization process, it is only after the wave of transformation in all aspects arrives that it may have a new era, and a new era will come, and there are many understandings and applications of technology, and The development of this kind of interdisciplinary is actually due to a large number of related innovations, such as smart screens, line intelligence, Corning’s glass, and then adding 5G signals, plus this powerful enough computing power, you can complete the era ; It is actually determined by hardware, software, and all production processes, as well as the technological literacy and processes of personnel.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

If we go back to the Internet, the picture above is the iPhone 1, but in fact, the iPhone 3G is probably the most impressive one. This may be the time when everyone really realizes that there are so many people using it on the mobile Internet.

In 2010, when I was working on mobile games, I could clearly see the number of new players entering the game every day, and the devices it used had changed from Saipan to Android. The proportion of touch-screen Android is updated every day, and the number of touch-screen Android users is increasing at several times the speed every day. So in fact, the iPhone 3G may be the symbol of the mobile Internet that everyone remembers. The iPhone 3G sold more than four times more than the previous iPhone 2, and the iPhone 3G was also the first mobile phone to include a 3G network. Another important thing in the 3G era is the emergence of the App Store.

In fact, the App Store also makes the application possibilities of the entire wireless network and smart phones reach a very high level. But in fact, neither 3G nor the App Store was created by Apple itself, because the iPhone is actually making its own chip M1M2, but in fact, when the iPhone was used, it used the logo of infineon, using the standard of ITU or GSMA. Make a connection, then go to a cellular tower built by a tower company like at&t Crown Towers.

We can download APPs on the iPhone because there are many developers who have developed APPs and put them on it. Java, HTML, and then we’ll use Unity, and we’ll use the engine like UNREAL to develop and maintain these products.

App Store payment is a digital payment system built by banks, such as WeChat Pay, Alipay, and Yunshan Pay. It can only be purchased on the APP when the digital transaction period is valid, otherwise we have to Go buy a point card like in the old days, use the point card to pay, or talk to the windowsill to spend money shopping.

In addition to these software technologies, the iPhone also needs Samsung’s CPU. Of course, at the beginning, it is the license price purchased from ARM, and it also needs semiconductor accelerators, because it needs to make gyroscopes; then it needs to buy communication components, such as BROADCOM, and also There are components from National Semiconductor, and then go to the Red Sea for assembly and production.

It is all the processes, hardware, software, and developers that make the iPhone possible and truly start the era of the mobile Internet.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

From the perspective of the changes of the iPhone, the latest is not the most suitable, and the core is the breaking of user habits. Then from the logic of the mobile Internet that we just briefly reviewed, let’s take a look at what is the logic of the Metaverse.

There are three paths to share the logic of the mobile Internet. I think it can be referred to in the future Metaverse, or in the era of Web 3.

The first point is that technological diffusion will change human culture. For example, because we have a car, we accept shopping from the second ring road, the third ring road or living further away. Because of the proliferation of technology, new changes will occur in our daily activities from living to life.

The second point is that every so-called industrial revolution or industrial transformation relies on many different non-primary innovations and inventions. These innovations and inventions are interdependent and mutually driven. For example, no one thought that drop-resistant glass could be used on mobile phone screens as the main mobile phone components.

Third, even with a good understanding of new technologies, it is difficult to pinpoint which specific innovations and inventions they require to achieve large-scale applications. How to change the world, through a simple technology, or a set of general technologies, is actually less known.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

So we shouldn’t have a single or heuristic definition of the Metaverse, I think it’s too early to look at this, especially when the concept is just beginning. Because technology-driven itself is an organic and unpredictable process, of course, it is also because of this cross-border situation that it will lead to the current large-scale destruction and the destruction of the rules.

So if I have to define the Metaverse, then I understand it as the evolutionary form of the mobile Internet. Because the Metaverse will not fundamentally replace the Internet, it is based on the Internet, doing some superpositions and doing some transformations.

Analogy to the mobile Internet, the mobile Internet is actually an upgrade of the traditional fixed Internet. From the 1960s to the 1990s, the information superhighway was basically the previous generation of the Internet, and then evolved into the mobile Internet. Now it may go backward and become a The next generation of the Internet.

The Internet has the underlying architecture of the Internet, including most of the current traffic. The data transmission method used is also infrastructure. It needs to be connected to the central tower through our WiFi, and then the nodes are placed in the central computer room, and then the data is transmitted.

Because we have the mobile Internet, the location, time and reasons for surfing the Internet have all changed. For example, if you think back now, maybe ten years ago when there was no WeChat, you probably wouldn’t keep your phone open at all times, and then wait for when you can check WeChat.

In the future, I think the Metaverse should be similarly transformative, and it will gradually change the role of the computer Internet in our lives. We get used to mobile phones quickly, because all industries will revolve around the mobile Internet to change our work, change our business flow, and change our product line. This change is actually an engineering change, and this change is as important as hardware innovation. of.

Because of the mobile Internet, new business cases have emerged; for example, Pinduoduo, Xiaohongshu , and Douyin, these are all business case innovations brought about by the mobile Internet.

This should happen again in the Metaverse Age. Essentially, I think there will definitely be many opportunities in the next wave. We can’t be sure what the Metaverse is, but what the Metaverse is not, I think it’s actually very important. Many people will say VR or AR, I think virtual reality is just a way of experience. Metaverse, not just virtual reality.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

You can’t say that VR is the Metaverse, just like you can’t say that Douyin is the mobile Internet. Because there are hundreds of millions of people who do not have these devices and participate in the virtual world every day, such as playing the glory of the king, such as playing Minecraft. For example, when chatting on WeChat, the identity is also a virtual identity, so in fact VR is not a Metaverse. Just like whether it is Android or Apple, the mobile phone will not be the mobile Internet.

Many people will also say whether the Metaverse is a virtual world or a generation platform. Such words are like saying that WeChat is the mobile Internet, which is not quite right. I think the social experience, or this kind of virtual experience, the gaming experience, is actually just one of many experiences on the Internet.

The Metaverse is not exactly a tool either, because a tool only provides technical support for the realization of the Metaverse, so it is certainly not a tool.

In addition, can Metaverse be called a game? I think Metaverse itself is not a game, but we can play games in the APP. We feel that the entire vision of the Metaverse is still decades away.

The word Metaverse is very popular, but there are many popular words every year. The word that was very popular last time may be graphene. If graphene moves forward, it may be astaxanthin. If astaxanthin moves forward, it may be nanomaterials. In fact, every year there are very new and very popular words of their own, but I don’t think it matters. When the words are very popular, they can actually create a certain social voice and social force, and at least a part of the attention and the investment of some resources will be attracted.But I think the whole time point will be longer and not so fast, so I will briefly share the aspects that we focus on as investors.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

There are about eight core categories that we focus on. The first is hardware support. VR is not a Metaverse, but an interactive facility for the next generation of mobile Internet. This kind of interactive facility is just like the generation of mobile Internet without the generation of mobile phones.

If there is no VR, or other hardware, such as haptic gloves, hardware for body feedback, etc., then the full-real simulation of the next-generation Internet, or some better feedback will be difficult to achieve. And now the entire development progress and advanced nature has been relatively good. So we are looking at some of these similar hardware products, including its physical technology and equipment, including its sales and support, we will look at it,

To C and To B will also read. ToC may be more about hardware or some companies in the hardware supply chain, and then To B may be more about applications that have demand for the B-side, such as industrial cameras, large-scale industrial projectors, and as Canada did two days ago With the fast 3D scanning product in hand, basically a relatively accurate image and 3D model can be generated within two minutes after scanning. This product is what we are looking for.

The Metaverse has strong requirements for technical underlying support. We will not specifically limit this category to computing hardware, including GPUs, GPU chips or servers, or including optical fibers, or wireless chipsets. We feel that technology and production are equally important. If you have the technology to be unable to produce, or have the production capacity but do not have a good technical implementation, it is actually useless.

The second direction is the network. The network is the backbone provider, the network switching center, and the last mile of data transmission to the terminal. We feel that this piece of data transmission like high bandwidth and high dispersion is something to be concerned about.

The third thing we see is computing power. The Metaverse or the next-generation Internet has very high computing power requirements, so we will look at physical computing, rendering, data verification and synchronization, and then AI, motion capture products. However, in terms of motion capture, we will pursue diversification or more demanding functions, but the number of motion capture is not enough now, whether it is point position, binding, sensitivity, or in fact, there are quite a lot of them. certainty.

Secondly, we will also pay attention to the virtual platform. In fact, we will look at it a little more, including general environment and world 3D simulation development and operation. Basically, we should have swept all domestic engines once, and then we also hope that the product can help users or Helping enterprises to create some immersive digital platforms has economic and economic benefits in the short term, but we are pursuing long-term things.

On the virtual platform side we focus on some large ecosystems of developers and content creators like this. We think the system is meaningful, including some moral ecology, we are also looking at it, but we are not looking at talker now. It morphs too quickly for instrumentation, and we don’t really like something that’s too close to the money because things are inherently long.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

The fifth block is the exchange of tools and standards. We look more at tools, protocols, formats, and service engines. These are actually pretty hardcore. But at the core, we still hope to provide some support for the creation and continuous improvement of the next-generation Internet. This includes knowledge rendering, physics engine, AI activities, as well as material management, process tools, and forward compatibility management and updates, which we all want to see. After all, we are now making digital assets, and the resolution of this wave of assets will be useless.

The sixth block is payment. Payments we see more may be from legal data entry, that is, some more applications of digital renminbi. In China, don’t think too much about financialization, don’t want to speculate, many things can be speculated, shoes can be speculated, blind boxes can be speculated, other NFTs can be speculated if you want, but don’t make things too complicated It is too chaotic. We are now mainly focusing on some applications of the digital renminbi, financial services, as well as some such chain generation and chain-related infrastructure.

Then the seventh block is content services and assets. We will look at the design, creation, sales, transfer, storage, security protection, and financial management of assets. At present, this piece may have a lower priority, because the front end is not finalized. We’ll look at some new ideas or ideas of this kind, including ethical organizations that we support.

The last piece is user behavior. Based on some changes in consumer and business behavior of new Internet users, how to allocate investment, expenditure, attention, and decision-making ability, these products may be more like the fashion industry, we hope that these products can be Have high enough influence to seize the interest of users.

As you can see, I did not put encryption technology and blockchain technology together, because encryption technology and blockchain technology are actually parallel across many products, especially they will be split into things like computing, delivery tools and standards, and payment. something.

Among these categories, I think they are all important to the development of the Metaverse. But we don’t really know how to recommend breakthroughs in the development direction of each project, and we are still looking for better ways to solve them. For example, the refresh rate and resolution of VR, PSVR may require a higher resolution, maybe 50, maybe 60, some may require 70, including network delay, there is no way to solve it.

For such a large-scale VR product, the network cannot support it, and this IO device is not enough, but these products will always be combined in the end. Because of technological progress and hardware progress, we really don’t know what will happen in the end. , but we suspect that going backwards will certainly disrupt all industries and functions, including from medical care to consumption, to entertainment, to payments, and may also change labor and production relations.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

We have seen some changes in recent years. The biggest change we can see in 2020 and 2021 is that people spend more and more time online and in a virtualized world. People will spend more time online, including the current Internet Seminars are very developed, like two years ago, there may not be two online meetings every day that need to be attended.

But the most important thing is to de-stigmatize the Internet. In the past, everyone would think that playing games and surfing was very bad, or not mainstream, and felt that you were less motivated, but in fact, it is not a big problem for everyone to go online now. No matter if you are playing in Dongsen or robots, or participating in the live broadcast of Douyin, whether you are watching or buying, everyone will think it is a very normal thing.

The advantage of this is that more people can participate in the mobile Internet. The more users of the mobile Internet, the more the next generation of Internet users will be. A major injection of Metaverse income is currently the legalization and investment of virtual assets, especially the popular cryptocurrency or NFT.

It is normal for NFT to decline a bit in April and May. I think it should also be sorted out and restricted, because there is no particularly practical application in the current form. At present, there are still many fund disks, although in the long run there should be some value. In addition, investment in non-game brands and talents, virtual live broadcast has actually taught many new users this product, and the accumulation of a large amount of funds will also help the virtual platform to further diversify.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

In terms of hardware, the ink core we originally cast is a video processing chip, which can be more than ten times faster and more efficient than the original video processing chip. Because I believe that there will be more video content in the future, it will be helpful for computing power. Sirius Core actually makes MCU and some third-generation semiconductor chips. The logic of Lituo Technology is the same, mainly to improve computing power. These companies are actually developing very well now, and after we invested, it is estimated that it has increased by more than ten times.

Tibo Technology is basically working with Lenovo on some high-performance computing units.

In terms of content, Immersive World just mentioned that it is mainly an offline VR experience store. At present, it should be the largest chain store in the country. It can be found on Dianping, and luck is also good; MUTA is a virtual engine that focuses on sound. It is an acoustic research institution; the products of Internet Star Dream , in fact, Internet Star Dream is already the second one of Sony, and its products are also directly issued by Sony.

At present, the animation universe is relatively leading in the industry. Previously, it was mainly engaged in the distribution of expression packs, and it should also be the number one operator of expression packs in China. Aojia mainly produces VR game products, two Aojia products have been released on PSY; Jishi Technology is currently the world’s largest board game platform, and we are working hard to promote the electronicization of board games. In addition, the authorization of the blood-stained clock tower in China is also in the hands of Jishi.

The Douyin account made by Gravity Yuhua called me not for nothing. It is also an early attempt to live broadcast of virtual people in China. At present, it is also a very profitable company; blooming cultural and creative, in fact, is more about the curation of IP culture. Or the transformation of virtual space, we have launched an offline high-tech experience hall with Aoya’s listed company in Shenzhen, which also combines technology and art authors. The domestic bloom that Bloom did like team lab before should also be the highest-grossing offline event in China so far. We have generated 60 million in revenue, and it should also be the highest-grossing event in China at present. Yuanlang Culture is mainly based on IP operations. We mainly make traditional Chinese cultural IP in the sea direction, and we do some push from content and hardware.

In summary and outlook, we feel that if the foundation is not stable, how can we go to high school? It must be oblique, so I think that for now, we need to make more breakthroughs in technology and make more real things. In terms of content, it is possible Slightly slower, because the products are not very clear at the moment.

In the eyes of investors, Metaverse is not "what"? Which eight areas should you focus on?

The president of Nintendo is also not very clear about the form of the Metaverse. I think we still have to think about how to serve our final users well when we make all the products, and providing users with surprises and fun is what we really need to think about.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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