On the Value of NFT: Why Tencent Can’t Play the Meta-Universe

The metaverse may be able to generate digital economy model innovation in the middle ground of industrial blockchain and crypto economy.

A few days ago, the Ministry of Industry and Information Technology and the Central Network Information Office released an important document about blockchain technology application and industrial development, proposing to cultivate a number of well-known products in the fields of product traceability, data circulation, supply chain management, etc., cultivate 3~5 internationally competitive backbone enterprises and a number of innovation-leading enterprises, and create 3~5 blockchain industry development clusters in these years. The document also proposes the need for technical research, including distributed computing and storage, cryptographic algorithms, consensus mechanisms, smart contracts and other key areas to build the underlying blockchain platform.

With some thunderous governance expectations for cryptocurrency trading and bitcoin mining, the direction given by the government for the industrial blockchain is encouraging – blockchain technology foundation and blockchain technology application, pointing to the promotion of digital economy model innovation.

You may feel a bit ripped off to discuss the value of NFT and how Tencent plays with the meta-universe, so why start with the government’s document – Mars Investment Research believes that if Chinese industry embraces the blockchain era, it must not avoid the crypto economy. This, we see the cautious wording and enlightened attitude of the government, they think blockchain technology can help digital economy model innovation, which leaves room for the industry level; and Ma Huateng is forward-looking, he has long included the gist of the next era of digital economy model innovation in the concept of the all-true Internet, their layout in the meta-universe may also be one that can be in the industrial blockchain and crypto The middle ground of the economy, generating digital economy model innovation.

On the Value of NFT: Why Tencent Can't Play the Meta-Universe

Let’s sort out the story of Tencent and the meta-universe:.

  1. Ma Huateng once wrote in his annual special issue “Three Views”, “Now, an exciting opportunity is coming, a decade of mobile Internet development is about to usher in the next wave of upgrade, which we call the All True Internet ……” From the expression, “All True Internet ” and meta-universe is the same.

2、Develop a game masterpiece to benchmark the virtual world “Oasis” in “Top Gun”.

  1. Tencent is the shareholder of Roblox, the first stock of metaverse, and also the shareholder of Epic, which “has the phase of metaverse”, with 40% shares of Epic.

4, byte jumping with nearly 100 million yuan of investment in the Chinese version of Roblox code Qiankun. When this news was broken, people realized that Tencent had also long invested in the competitor of CodeQiankun, Mini Play.

On the Value of NFT: Why Tencent Can't Play the Meta-Universe

The concept of metaverse is so big that we think it will be a new economic and social ecosystem. David Baszucki, CEO of just-launched Roblox, gave several definitions of the characteristics he has in mind for the metaverse: identity, friends, immersion, low latency, diversity, anytime, anywhere, economic system, and civilization.

Baszucki said there are eight different characteristics of a true metaverse. You need to have an image of a virtual identity, which can be a rock star and a fashion model, which is a big selling point of the metaverse. You can make friends with real people and socialize in the metaverse. It has to be “immersive” or make you feel like you’re somewhere else and lose your sense of reality. You should be able to log in from anywhere, regardless of country or culture, and you need a low-latency link, whether you’re at school or at work. The metaverse must be low latency, meaning you can be anywhere at any time. If you’re studying ancient Roman history at school, you can teleport there in a second and start a journey through ancient Rome with your classmates. It has to have a lot of differentiated content to support people’s long-term interests, and you need a great economic system to ensure that people can live in the metaverse, and not just programmers, but also artists and game planners. Ultimately, you need security and stability so that people can come together and improve digital civilization.

So, the anxious Pony brother offers the concept of the full Internet, but must not avoid the identity of the digital world (NFT), and the economic system and digital civilization in the next economic and social ecology (whether it is the full Internet or the metaverse).

The metaverse is not just a game anymore, the “metaverse” is the next stage of Web 2.0 and will become the representative technology, platform and service in Web 3.0. The metaverse in its chaotic state has already led to the emergence of new economies: land owners or speculators (Land owner/Fipper), gamers (Player), metaverse builders or contractors (Metabuilder/Contractor), virtual wearable manufacturers (Metawear), and a number of services The NFT brings not only material uniqueness, but also transfer across time and space. Only, it’s just beginning ……

In the past, large game developers have funded crypto-native developers for NFT games primarily through incubation labs (such as Ubisoft’s Entrepreneur Lab) – the development cost of a AAA game is high, so large developers will only take the risk of a big-budget project once NFT games become mainstream. But as crypto-native indie developers lay the groundwork for mainstream adoption, large developers will become directly involved in the production of large AAA games, including Tencent’s placement in this ecosystem already visible to the naked eye.

The problem is that if Tencent’s meta-universe is unable to complete elements of economic forms such as the NFT mentioned above, we can foresee the next era without Tencent. Mars Investment Research is concerned about blockchain investment and financing opportunities, the investment logic of crypto economy and the creation of post-investment value, but we do not recommend projects, so all descriptions of projects in this article are not recommended as a basis for investment decisions.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/on-the-value-of-nft-why-tencent-cant-play-the-meta-universe/
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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