Metaverse layout of Bilibili

Metaverse has recently attracted attention at the corporate level, and many domestic and foreign companies have entered the game. Among them, the “All In” Metaverse is regarded as the next growth point; Microsoft, NVIDIA, Unity and other companies hope to become the basic builders of the Metaverse; Tencent hopes to start with games and develop the Metaverse market; the previous Jidong and Tencent even Fight for VR maker Pico. In the end, ByteDance successfully won Pico for $9 billion; Baidu is exploring the Metaverse in many ways. So Bilibili, which started with content, will obviously not let go of the big cake of the Metaverse. Today, let’s take a look at the Metaverse layout of station B.

BilibIli seems like a good fit for the Metaverse

On November 17, 2021, Bilibili released its financial report for the third quarter ended September 30, 2021. Bilibili executives will accept questions from analysts after the release of the financial report.

Today is the era of Metaverse fiery, and analysts are naturally asking questions about Bilibili’s Metaverse. In this regard, Chen Rui, CEO of Bilibili, said that Bilibili is one of the most suitable companies in China to realize the concept of the Metaverse.

Bilibili’s third quarter financial report shows that Bilibili’s game live broadcast and value-added services based on major members increased by about 95% year-on-year, with revenue of 1.91 billion yuan, accounting for 36.7% of total revenue, becoming the largest source of Bilibili’s revenue. The advertising business revenue was 1.17 billion yuan, a year-on-year increase of 110%, making it the fastest growing business segment. E-commerce and other business income was 730 million yuan, a year-on-year increase of 78%. Bilibili recorded a net loss of 2.686 billion yuan, a record high, with a loss of 144.01% year-on-year.

As the most popular new outlet in 2021, the Metaverse also seems to have become the new hope of Bilibili, drawing a big pie and considering it as a driving force for future growth.

The “2021 Yikai Capital Metaverse Report” believes that the short-term breakthrough points of the Metaverse are games, social and immersive content. At the same time, the starting point of the Metaverse is not the platform, but the content that can be independent, self-iterative, and multi-dimensional to attract users to participate in the experience and even participate in the creation. NFT and Defi are the main applications of blockchain in the Metaverse world, and can effectively support the economic system of the Metaverse. The three elements of NFT include: creators and cultural IP, technical support and platform publishers, community communication and collectors. As a game company, Bilibili also has a large number of self-circulating original content, classified community sections and virtual idol business.

High-energy chain is launched on Bilibili

Half a month after the financial report was released, Bilibili officially entered the Metaverse with practical actions.

On December 6, 2021, Bilibili is testing the high-energy chain. High Energy Chain is a digital native community for new applications, cultures, games and digital assets. The high energy chain will also support community governance in the future. At present, the high-energy chain has launched a blockchain browser tool, which is mainly used as an information query tool on the chain. High Energy Chain aims to create an open, innovative and all-encompassing digital native community.

The three major application scenarios of the high-energy chain are digital collection (NFT), digital identity, and copyright.At the same time, it can provide users with services in six directions: original works on the chain, NFT collection exhibition hall, virtual pets, idol interaction, digital identity, and low-key display of identity to others.

6 major directions of high-energy chain services:

1. On-chain original works can prove the uniqueness and legitimacy of the creator’s content, similar to the copyright deposit function jointly created by Tencent ISUX Original Museum and Tencent Blockchain.

2. Create a digital collection exhibition hall, which can show your digital collection to others. Similar to Ali’s Ant Chain digital collectibles and Tencent’s magic core.

3. Low-key revealing your identity to others. The exact form of the service is currently unknown.

4. With virtual pets, the experience may be similar to QQ pets, providing users with unique virtual cats.

5. Interact with idols, generate virtual space for users, and allow users and idols to have zero-distance interactive experience in a specific virtual space. It is not ruled out that virtual idols will also be added.

6. Digital identity, creating digital identity for users through blockchain technology, identity information and other data are permanently stored on the chain, and the ownership of the data is completely owned by the user.

At present, Bilibili High Energy Chain has proposed 3 technical solutions. The current public key is a private key storage scheme. In order to help ordinary users improve the security level of private key management, High Energy Chain adopts a design scheme that replaces users to centrally manage private keys. Two technical solutions, smart contracts and trusted cross-chains, are still being tested.

The vision of the high-energy chain is to provide a channel for digital assets to be put on the chain. Diversified applications are welcome to join the ecology, to realize the cross-application circulation of digital assets, and to provide users with a variety of usage scenarios and display stages. Become a “sovereign identity authentication + asset repository” for organizations or individuals. At present, the high-energy chain has launched a blockchain browser tool, which is mainly used as an information query tool on the chain.

A rich ecosystem of games, streamers and other content

Since 2013, Bilibili has invested in nearly 21 game companies, covering the entire industry chain including game R&D companies, production companies, service companies, and distribution companies. BilibIli also currently has more than 32,000 virtual people. In 2020, more than 60% of the world’s well-known virtual anchors will start broadcasting on Bilibili.As the most abundant virtual anchor platform in China, the content creation attributes of virtual images have been formed. Bilibili’s content creation system is the natural landing scene of NFTs in the Metaverse.

The Metaverse is likely to start landing in industries such as games and virtual humans in the short term. BilibIli’s previous layout was perfect for the Metaverse. Creators, community exchanges, and collectors are all available, and the exclusive IP of the second dimension is one of Bilibili’s business sectors. In the Metaverse, Bilibili has a dominant position.

BilibIli also clearly recognizes its strengths. Chen Rui said in the conference call that the concept of the Metaverse includes some product elements, such as virtual reality, closed social systems, and self-circulating ecosystems in games. These elements are not new per se, and some companies have already implemented them, such as Meta and Tencent. In fact, Station B also implements some of these elements.

Bilibili believes that if there is really a Metaverse world, it will definitely need a lot of content to keep users lingering, so a self-circulating content ecology is needed. At present, Bilibili already has such an ecology, and a community of 270 million people has been formed, so Bilibili is indeed one of the more suitable companies in China to be a Metaverse. Chen Rui said on the conference call that the most important thing about the concept of the Metaverse is to have a self-circulating ecological supply of content. This is not something a company can do. After all, to build a new Metaverse world, there must be a lot of creators who can make money in it. This is the concept that the ecology of station B has always been adhering to. For example, this is the case with virtual anchors, where the anchor becomes another image through motion capture.

Test avatar-related functions

On December 2, 2021, Bilibili began to test the virtual character development function (Kanbanniang test project), which is regarded as a step in continuing to enter the Metaverse. The Kanbanniang test is a big plan for Bilibili in the near future.Users can put Bilibili’s Kanban girls on their personal homepage to support custom items such as changing clothes and checking the weather.

Users can switch between Bilibili’s two Kanban girls (22 and 33) according to their preferences. Different Kanban girls have different personalities and will communicate with users in different tones.

In terms of payment, similar to QQ Show, the main payment point of this virtual character development function is the purchase of Kanban girl clothes. Users need to use B coins (Bilibili’s paid currency, exchanged 1:1 with RMB) as a Kanban girl to buy clothing and customize it.

Netizens called the test “bilibili version of electronic chicken, QQ show”. Obviously, Bilibili wants to observe the usage and enthusiasm of its users first, and when the time is right, it will implement the products related to the Metaverse concept into Bilibili’s own ecology and application.

BilibIli launches digital collectibles

On January 5, 2022, Bilibili’s official certification number, Bilibili Digital Collection, announced that its first digital collection avatar “Geide” was officially opened for registration and collection, with a limited number of 2,333 pieces. Avatars in this series are not for sale. User needs to register. The conditions for receiving it are that the user level of Bilibili reaches level 6. Users who use Bilibili every day in 2021 must be at least 14 years old and need to complete real-name authentication. This collection condition is clearly aimed at young users.

Digital Collectibles Avatar “Dove”

For this digital collection, BilibIli defines the digital collection series as the incarnation of digital collections, and there is no word “NFT” in the introduction. According to Bilibili, the series is collectible and can be used for research, viewing and as an avatar for social media. In addition, “Pigeon” has added two new functions: derivative production and online secondary creation. In the introduction, the user has the right to make, sell and promote the physical environment based on the collection while holding the avatar of the digital collection. Therefore, users can have certain commercial development rights, which is different from the digital collectibles launched by other platforms. This series of digital collections can be given away, but any form of digital collection avatar hype is discouraged.

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