Inke’s entry into the Metaverse, is it a hot spot or a real skill?

Originated from live broadcast, good at social networking, and fire in the Metaverse?
On June 15, Inke held a brand upgrade conference, officially announcing that it changed its name to “Ying Universe” and entered the “Social Metaverse”.
For a listed company with national recognition, brand iteration can be regarded as a “thrilling leap”. The last company that received much attention and even controversy due to its name change was Facebook, but it is undeniable that it changed the company name to Meta Platforms, which directly promoted the popularity of the concept of “Metaverse”.
This time, Yingke’s name change was not unexpected, and there were expectations and doubts from outside voices: Why did Yingke want to do the Metaverse? Can Inke make a Metaverse?
In this regard, Feng Yousheng, chairman of Ying Universe, responded to Shen Ran, “Seven years ago, we were thinking about how to make live broadcast a mainstream way of life. At that time, people were not optimistic, but now live broadcast is closely related to all aspects of life. I think The same is true of the Metaverse, so we have to step into it bravely.”
Inke's entry into the Metaverse, is it a hot spot or a real skill?
Inke renamed Ying Universe
Some voices believe that the Metaverse is still in the early stages of development, not only Yingke, but the existing Metaverse social products on the market are just upgraded scenes and characters based on the original social products.
However, before the official name change, Inke had already taken the lead in business and launched a variety of social Metaverse products to test the waters. What the outside world is now curious about is whether Inke can successfully enter the Web3.0 era and explore with the R&D and operation concepts of the Web2.0 era? Is it a good time to enter now with a high profile?

Inke's entry into the Metaverse, is it a hot spot or a real skill?

From Web2.0 to Web3.0,
Did Yingke understand social play?
In the first half of 2020, as live streaming has become a new trend, the growth rate of the show live streaming industry, which is the originator of live streaming, has slowed down. Inke and other leading live streaming platforms seem to be gradually disappearing.
Facing doubts from the outside world, Feng Yousheng told Shen Ran that he realized the danger of live broadcast of the show in 2019.” You can’t wait until the live broadcast of the show has challenges before you can do the next exploration . Any company has a life cycle, and it is necessary to start exploring the second and third growth curves before the product enters the mature stage.”
Inke’s exploration began in 2019, the first year after its listing. According to reports, as of now, Yingke has built a full-scenario social product matrix, including “Jimu”, an interest-based dating software, and “Duiyuan”, which covers the dating needs of the sinking market, as well as a platform for vertical outdoor operators. “Looking for the Wild”, etc.
Inke's entry into the Metaverse, is it a hot spot or a real skill?
Feng Yousheng introduces Inke’s social products
Online social tools can solve the problem of information asymmetry and promote matching efficiency, but Yingke found that if people want to develop further, they must eventually return to offline meetings. To this end, Inke opened an offline experience store of the same name in Wangjing SOHO, Beijing in September 2021 while developing the social software “Super Likes” for young people in new cities. In the same year, Jimu began to hold simultaneous offline events to undertake various needs such as performances and script killings covered by the online “same city organization” function.
Up to now, these applications may still be considered “niche”, and the popularity and user volume are not high. There are also voices that Inke is thankless and has been pushing new products, but it is difficult to attract the attention of the market.
In fact, Inke’s internal logic is based on social networking, building a product matrix that integrates online and offline scenarios for people of different circles, ages, cultures, and interests, and forms a product matrix other than live broadcast. Stable growth point.
It can be seen from Inke’s 2021 annual report that Inke’s current products mainly cover three major sectors: live broadcast, blind date, and social networking. Among them, social products bring 5.74 billion yuan in revenue, accounting for 62.6% of revenue, and blind date products bring in 614 million yuan. Yuan revenue, revenue accounted for 6.7%.
“At present, Inke has more than 20 APPs, all of which are supported by a middle-stage support system. This way of constantly incubating new products may not have a particularly large user scale for a single product, but they all have relatively accurate social media. Crowd .” An investor in the social track said.
In strangers’ social interaction, users will pursue differentiation and freshness. Li Yunfan, investment manager of Xianfeng Evergreen, said that Inke’s continuous new and iterative product approach can continue to provide freshness. Advance preparation and multi-point layout are a magic weapon to maintain an advantage in the fierce competition.
It can be said that Inke has met the social needs of vertical people with products from the Web2.0 era, and laid the foundation for its smooth transition to the Web3.0 era. Whether it is a new product or a previous social product, the understanding of human nature and the grasp of human needs are in the same line.
Inke's entry into the Metaverse, is it a hot spot or a real skill?
Beginning in May this year, Inke first launched the industry’s first Metaverse K-song gameplay “Panorama K-song” in the APP, and subsequently launched the Metaverse love APP “Couple Planet”. One of the most prominent features of Metaverse Social is the sense of immersion, which is also the greatest feeling of many users about the above-mentioned products.
Wu Cheng, the person in charge of Plus One Times, said that Inke has been building relationships between people in various ways, andnow entering the Metaverse, he also hopes to use technology and product capabilities to build relationships between people in another world. , In this regard, Inke has experience and advantages.
“Social networking is the underlying infrastructure of the Internet, and Yingke insists on the right social direction.” Zhou Wenjing, a partner of Chunni Capital, said to Shen Ran, from QQ in the era of social networking 1.0, to short videos and live broadcasts in the era of social networking 2.0, to social networking The Metaverse of the 3.0 era is essentially building more dimensional and deeper links between people.

Inke's entry into the Metaverse, is it a hot spot or a real skill?

Old products bring new products, and the horse racing mechanism is innovated
The three years after Inke’s listing is also a window period for social and live broadcasts to change. In the past three years, short videos have sprung up, and live broadcasts have been attacked by cross-border attacks. Compared with the bloody storms of the outside world, Inke has the meaning of “invisibility”.
In fact, from the perspective of creating more than 20 social products, as well as making products in the Metaverse world and releasing NFTs and digital collections, Inke is secretly working hard.
Almost at the same time as the listing in 2018, Feng Yousheng started the company’s internal entrepreneurship . The company has twenty or thirty entrepreneurial teams. In recent years, Inke has launched the “internal entrepreneurial partner” mechanism to encourage internal innovation more vigorously.
“We have a project leader for each project. When the person in charge has a strong sense of ownership of a thing, he can take the initiative and do not need to worry about the management. The team will have incomparable enthusiasm for their own things, and will also Really get into the crowd, constantly understand their pain points and needs, and iterate processes and products according to needs.” Feng Yousheng believes that “maintaining an entrepreneurial mentality” is very important.
Inke's entry into the Metaverse, is it a hot spot or a real skill?
Organization and management are decentralized, but opportunities are limited by time, so Inke has implemented “segregated horse racing” competition . If a team fails, it may not be possible to verify whether the direction is right or wrong, so different teams compete to do one thing at the same time, and the fittest will be eliminated. Feng Yousheng introduced, “Different teams in the same project don’t even know that they are competing with each other. After 6 months, according to the user’s retained data and the closed-loop degree of the business model, keep the best one, and then let it go outside.” “Duo Yuan” is the winner of the internal horse race.
The competition mechanism has given birth to pipeline innovation. Inside Inke, a new product can be launched for a week at the fastest and a month at the slowest for testing, and there is even a record of “making a product in 4 days”.
Feng Yousheng mentioned that there are two advantages of internal horse racing: one is the role of “model”, some teams have really run out of the platform, and the team will continue to learn from and move closer to it. The other is “encouraging failure”. When you do any project, there is a possibility of failure for the first time. You can train the team through the project and let talents grow with the project.
But in the Internet world, innovation also means burning money. Inke has been profitable for seven consecutive years. According to its financial reports over the years, Inke has been profitable since its first year of establishment in 2015. In the first half of 2019, there was a brief loss due to the acquisition of Jimu, but by the end of the year, it still reported profits. In the past two years, Inke’s profit has maintained a relatively high growth rate. In 2020, the profit will be 200 million yuan, a year-on-year increase of 285%. In 2021, the profit will be 430 million yuan, a year-on-year increase of 113.1%.
Inke’s innovation is a subtractive innovation, and its products focus on social and marriage tracks. In this way, it can not only accumulate a strong understanding of the needs of the crowd, but also accumulate technology and mid-stage capabilities, saving the cost of innovation.
Feng Yousheng introduced that the product experience of the past 7 years has precipitated the industrialization module capabilities, audio and video, commercialization, traffic operation and other capabilities of the Internet for Inke’s middle-office system; it has also accumulated a large number of AI recognition for Inke’s technical modules. , dynamic beauty, VR, AR, MR, XR and other technical capabilities.
To a certain extent, Inke is actively choosing to make “small and beautiful” products . Compared with first burning money for scale, and then considering the path of business closed-loop, Inke’s logic is that when the product scale is small, it should think about how to survive.

Inke's entry into the Metaverse, is it a hot spot or a real skill?

Metaverse social, not so easy to achieve
The Metaverse has yet to take shape, and the Metaverse has become a new battlefield for many manufacturers to compete for.
Among them are not only big manufacturers, such as Tencent’s Super QQ Show, Baidu’s launch of China’s first Metaverse platform Xiyang, Bytes also tested Party Island, and Cyber ​​Elephant Group’s Yidian Information produced “Jel”. There are still many small and medium players. According to the report of the data company Sensor Tower (2022) , since the concept of “Metaverse” broke out, an average of one “Metaverse” APP has been added every day.
Looking at the gameplay of these Metaverse social concept products, the same feature is that it creates an online virtual space for users, allows users to build their own Avatar-like 3D avatars, and multiplayer online real-time interaction.
In fact, the overall industry perception is that the Metaverse social track is still in a very early stage, and there are still many problems facing the industry.
Feng Yousheng said that it is almost impossible to complete 3D rendering in products now, and neither equipment nor broadband speed can support it. The real infrastructure of the Metaverse has not yet been built by companies at home and abroad. The real large-scale development of the Metaverse must wait for the release of the top hardware terminals. What Inke is doing now is innovation at the application level.
Inke's entry into the Metaverse, is it a hot spot or a real skill?
Zhou Wenjing also holds the same view that the explosion of the Metaverse is based on a perfect hardware layer and software layer.Hardware such as VR glasses is becoming popular, but in terms of software, some underlying real-time rendering, 3D modeling, holographic motion capture and other technologies still have difficulties in large-scale application, and the underlying infrastructure of computing power and bandwidth needs further breakthroughs. “The current Metaverse social network is equivalent to the ‘big brother’ era of mobile phones. When the technology has reached a new level, things at the application level can be done well .”
There is a saying in the game circle, “From the perspective of the development of the game industry, the first important thing is the gameplay, the second important thing is the world view, and the third is the technology.” This sentence is also applicable to the Metaverse. Users can only use the technology because of the first two things, but the first two things have not been solved at least yet.
In any case, this does not delay the development of the Metaverse, especially in the social product track. Zhou Wenjing believes that it is difficult for classical Web2.0 social products to innovate in pure product functions. With the evolution of technology, Manufacturers large and small are slowly entering the world of the Metaverse.
In this battle for the Metaverse that is about to go on, what Inke is pursuing is to “maintain a strong pursuit of the Metaverse and keep iterating on products”. Feng Yousheng said frankly that social interaction in the Metaverse requires patience, and now it is only the first stage of its infancy, and it is necessary to take a long-term view into the next 10 or even 30 years.

The Metaverse may be the most expansive track in the next decade, and it represents a new world. “The good thing about the new world is that it can tell a big, long-term story,” said Chronicle. As for the form of social networking in the new world, how the product functions, and how well it can be integrated with Web 3.0, manufacturers are all trying.

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