Metaverse: After the capital carnival, what is left behind?

All the rising logic without “real materials” will eventually be returned to the prototype by the market.

A few days ago, Luo Yonghao, who lives in Tieling, “the end of the universe”, announced in a high-profile manner that he will return to the technology industry next spring, and he will return the day he pays his debts.

And the first stop for Mr. Luo to return to the technology industry is Metaverse. Earlier, it stated on Weibo that “our next entrepreneurial project is a so-called meta universe company.”

As we all know, after successively chasing blogs, mobile phones, social software, e-cigarettes and other outlets, after losing one battle and becoming a debtor, Mr. Luo has gained the title of “industry light lamp” and “outflow killer” in the industry. This time he is ready to enter the game. The operation of “meta universe” has naturally attracted widespread attention from the outside world.

According to the Zhitong Finance APP, the “meta universe” that Mr. Luo plans to enter this time is a hot topic that is highly sought after by capital.

In March 2021, Roblox, an interactive game development company, was listed on the New York Stock Exchange with a market capitalization of more than 30 billion U.S. dollars. Its stock price rose 54% on that day and was known as the “Meta Universe’s first share.” Subsequently, Facebook, such as Tencent , byte beating , and many other well-known enterprises at home and abroad have announced the Bureau, to expand their business on the territory yuan universe.

At the same time, many concept stocks have soared because of the hot spot of “Meta Universe”: On November 3, A-share listed company Yi Shang showed that it announced that it would increase its investment in Meta Universe business and would like to mention three Daily limit; since September 7th, the share price of Zhongqingbao , the leader of the universe, has risen from 8.2 yuan to nearly 33 yuan, which is about three times higher.

In the Hong Kong stock market, some of the meta-universe concept stocks have also risen all the way because of the “Meta-Universal”: Since October 29, the stock price of Baneng Group (01263) has risen by more than 40%; and the stock price of Digital Kingdom (00547) has risen more than 20%…

At this point, the meta universe has completely exploded, and 2021 has also become the “first year of the meta universe” in a short period of time.

However, in view of Teacher Luo’s “dark lantern attribute”, the outside world generally holds a half-trusted attitude towards the sustainability of the concept of meta-universe.

Therefore, let us further analyze the current situation of the industry: What the hell is Metaverse?

From science fiction movies to reality, what is the meta universe?

The concept of “meta universe” was first born in the science fiction novel “Avalanche” in 1992.

In the novel, the writer Stevenson described a virtual world parallel to the real world-“Metaverse”. Here, each user can have his own virtual avatar and do whatever he wants in the real world according to his own ideas.

Subsequently, the concept of meta-universe was quickly finalized in science fiction movies. In 1999, “The Matrix” portrayed a “brain in a tank” virtual world. In 2018, the virtual world oasis depicted in “Ready Player One” is generally considered to be the representative of the final form of the meta-universe.

Metaverse: After the capital carnival, what is left behind?

However, after breaking away from the imagination of science fiction movies, what is the metaverse?

Yi through- popular explanation is that “meta-universe” is a collection of a virtual space of time, a series of augmented reality (AR), virtual reality (VR) and the Internet (Internet) composed. Generally speaking, the “meta universe” is a virtual world parallel to the real world and highly interoperable, including AR/VR, cloud computing, AI, 5G, blockchain and other technologies.

According to relevant research reports, Metaverse needs to have six characteristics, namely, continuity, real-time, compatibility, economic attributes, connectivity, and creativity. These six characteristics are indispensable, and only those that meet these six characteristics can be called meta universe. The industrial chain is divided into seven levels: experience layer, discovery layer, creator economy layer, decentralization layer, human-computer interaction layer, and infrastructure layer.

Metaverse: After the capital carnival, what is left behind?

So according to six characteristics above to determine, the moment is considered yuan universe products ” My World (Minecraf)”, “Roblox” is a meta-universe of products is not really the point?

“Minecraft” is an open world game developed by a Microsoft company. In the game, players can freely roam in a virtual world and freely choose the time point and method to complete the game task. Does it seem to fit the meta-universe? Concept, but because this game does not have the economic attributes of linking with reality, it cannot be counted as a “meta universe” in the true sense.

“Roblox” is a sandbox game developed by Roblox, “Meta Universe First Unit” . Compared with “Minecraft”, Roblox has connectivity. At the same time, the virtual currency Robux owned and earned by users can also be used in reality. Converted into real money (economic attributes) in life, so “Roblox” can be said to have the primary form of meta-universe. But because it has not yet achieved a complete projection of the real world, and the entire environment is still relatively rough, the degree of immersive experience is low.

Therefore, to be honest, returning from science fiction movies to reality, the current so-called meta-universe products are still far from the ideal meta-universe in movies.

Under the capital carnival, not just “moved” after waking up

Although the technical barriers urgently need to be broken through, the metaverse has indeed begun to move from a fantasy to reality.

At the same time, based on the characteristics of Metaverse’s permanent online, virtual and real 3D space, people-to-people or people-to-things interconnection, and virtual currency system, with the continuous development of VR, AR, artificial intelligence and other technologies, the outside world can still Try to build the prototype of the meta universe. Among them, social networking and gaming are undoubtedly the two major tracks that best meet the above characteristics.

In view of this, companies in the social and gaming category are preemptively rushing crazy.

In foreign countries, on April 13, American game developer EpicGames, which created the world’s most popular game “Fortnite”, announced that it has completed announcing the completion of a $1 billion financing. The financing amount is used to help the company build the meta universe business.

In mid-July, Facebook bluntly stated that the company will transform into a meta-universe company in the next five years. Then at the end of October, Facebook announced that the company officially changed its name to “Meta”, trying to get closer to Meta universe from the brand image, and CEO Zuckerberg even pointed out at the meeting that the company’s future focus is to focus on the realization of Meta universe.

Domestically, relevant companies are not far behind.

As of October this year, Tencent has directly or indirectly invested in 67 game companies, including an investment of US$520 million in Roblox in January this year, and games are considered to be one of the entrances to the meta universe. At the same time, Tencent founder Ma Huateng also put forward the concept of “True Internet” at the end of 2020. The content of “from reality to virtual” in the concept can be said to overlap with the concept of “meta universe”.

In addition to BAT, in April this year, ByteDance invested in “Meta Universe” game developer code Qiankun , with an investment amount of nearly 100 million yuan. Soon after, Code Qiankun launched the meta universe game “Restart the World”. On August 29, ByteDance reported that it had spent huge sums of money to acquire the VR company Pico. According to media reports, after ByteDance acquires Pico, the two parties will form a strong alliance in VR-related businesses.

According to the data disclosed by Tianyancha, as of November 8, nearly 700 companies have registered Metaverse-related trademarks.

But what needs to be pointed out is that when the veil of capital enthusiasm is lifted, it is not difficult to find that because the current meta-universe is still in the exploratory stage, even the early-layout companies have failed to come up with some substantive products and technologies, so this industry The current enthusiasm is more about conceptual hype.

On November 4, the “5 daily limit on the 6th” Tianxia Show received a regulatory letter from the Shanghai Stock Exchange. Since then, it responded to the concept of Meta Universe that the “Rainbow Universe” social product developed by the company is currently in the testing phase, and the official launch time is uncertain. The technical support comes from company-level R&D reserves, which realizes 3D-based social scenes, and has not yet connected to VR, AR and other technologies. The product has not yet generated revenue and will not affect the company’s performance at this time.

It can be seen that with the end of supervision, after a capital carnival, Yuan Universe is not only “moved” after waking up, but also left a lot of “slots” for conceptual hype.

How to look at the development opportunities of Metaverse?

Although the current meta-universe is still in the stage of exploration, which is far from the “meta-universe” in science fiction movies, it is undeniable that the “meta-universe” is undoubtedly a major forward-looking direction in the future.

CITIC Securities bluntly stated in a research report: “Metacosm is the next generation Internet in the next 20 years, and is the digital survival of mankind in the future.”

In his view, games and social interactions may be the starting point for Metaverse investment. In terms of application layer, the first breakthroughs may come from giants such as Tencent, Bytedance (Tik Tok), Facebook, and Baidu in gaming, social networking and other fields. Of exploration. On the technical side, the areas with the most investment value are still key areas where the leading companies have strong technical and market advantages, such as Nvidia in the GPU field and graphics engine company Epic. In addition, meta-universe infrastructure companies such as cloud computing, IDC, 5G, and other fields have also benefited from the long-term digitalization process.

Compared with the benchmarks in the Hong Kong stock market, it is not difficult to find that there are not many concept stocks in the Hong Kong stock market. Most concept stocks are composed of application-level and technical-level stocks. Among them, the application level mainly includes game stocks such as Tencent Holdings, Xindong Company, and China Mobile Games, while at the technical level, it includes stocks such as Baineng Group and Sunny Optical Technology.

For example, at the application level, in recent years, Tencent (00700) has continued to invest in companies and products related to the meta-universe concept. Among them, Roblox and Epic, which are recognized as “proto-universe products”, have been included under its command. In addition, the four technical capabilities necessary for Metaverse (platform entrance, e-commerce, blockchain, social media) are also invested. This also means that with the support of abundant financial and material resources, Tencent is very likely to become the leader of the domestic “metauniverse”, and this will also prompt it to be the first to taste the development dividend of the metauniverse.

Metaverse: After the capital carnival, what is left behind?

On the technical level, the Berneng Group, which has recently recorded a lot of gains, is also worth mentioning. Founded in 1997, Poneng Group is a well-known manufacturer of computer graphics display cards. Its main customers are Nvidia and AMD, which have leading advantages. At the same time, its own brand ZOTAC (ZOTAC) is one of the most popular products in the Amazon graphics card rankings.

In the first half of 2021, the company’s RTX3000 series graphics cards were in short supply. Due to the imbalance between supply and demand, the average selling price of this product increased by about 103.5% from the first half of 2020 to the first half of 2021. Thanks to strong demand, during the period, Boneng Group’s revenue increased to 6.85 billion Hong Kong dollars year-on-year, and its net profit attributable to its parent soared by 2800% year-on-year to 933 million Hong Kong dollars. It can be seen that as Nvidia continues to advance in the meta universe, it has established a good cooperative relationship with Nvidia and is expected to further increase its future performance.

In addition, the authentic “VR concept stock” Digital Kingdom (00547) on the Hong Kong stock market also seems to benefit from the positive development of Metaverse. It is reported that the company formerly known as Aoliang Group Co., Ltd. was established in 1992. Since the acquisition of Digital Domain (formerly Digital Domain) in 2013, it has transformed into a diversified investment holding company integrating the cultural and entertainment industry, digital visual effects, co-production of film business, and property investment. Current business mainly covers the special effects, virtual human and VR three businesses.

Don’t underestimate DigitalDomain. The company was founded by the famous James Cameron in 1993. Since its establishment, it has produced digital visual effects for more than 100 movies. Representative works include the award-winning “Titanic” and “Rejuvenation”. , And the popular “Ready Player One” and “Avengers” series. It can be seen that the digital realm wearing the dual aura of VR virtual reality + Hollywood special effects is naturally expected to take the lead in seizing the development opportunities of the meta-universe.

However, it should be noted that a hard currency deposit have both sides of. While this tuyere of Meta Universe has given birth to development opportunities, it has also brought many challenges.

The first is that due to the constraints of technological progress, the initial prototype products of the metaverse are often controversial, and the commercialization effect is highly uncertain; the second is that based on the establishment of digital assets and economic systems such as blockchain and NFT, they are still in conflict with each other. Digital currency prices are related, and may face currency fluctuations and the risks of national supervision; third, AI, graphics engines, high-speed wireless charging and even batteries may affect the development process of Meta Universe; in addition, Meta Universe and the digital world have an impact on electricity energy. The consumption of energy also brings challenges to the future energy structure.

Opportunities and risks coexist. This may be our attitude towards Metaverse. At the same time, we also need to be alert to the current capital hype. After all, all rising logic without “real materials” will eventually be returned to the prototype by the market.

Posted by:CoinYuppie,Reprinted with attribution to:
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