Tech giants and ordinary players are in the Nuggets “Metaverse” world

When explaining the concept of “Metaverse”, the movie “Number One Player” is always mentioned. The virtual world of “Ready Player One” is called “Oasis”. In the Oasis, “The only thing that limits you is your own imagination.”

In general, the meta universe is a virtual universe that transcends reality. People can live with a brand new identity, make friends, and live in this universe parallel to the real world. This is the “meta universe” we know from the movie.

The concept of the future of the meta universe was once hyped, and was once considered too illusory and full of bubbles. However, several recent events have suddenly shortened the distance between the meta universe and reality.

Recently, it is the American smart chip giant NVIDIA. Nvidia disclosed that at its April conference, CEO Huang Renxun’s speech included 14 seconds of a digitally synthesized “dummy” on his behalf, and this short 14 seconds deceived everyone.

After revealing the secret, the audience picked up Ang Lee’s emoticons one after another, “I can’t understand, but I was shocked.”

In the field of blockchain, another missionary position of the meta-universe concept, projects related to the meta-universe are also constantly out of the circle. This year’s Defi game representative, and now the representative of Metaverse, Axie Infinity, has a single-day revenue that has surpassed “Honor of Kings” several times. In reality, there has even been an “IOI” gold mining company, which has organized and premeditatedly plundered the “resources” in the game. “.

At the stage when the meta universe is still in the concept of popular science, a group of explorers with a keen sense of smell and fast action have already begun to dig money in the meta universe world.

Why is the meta universe so hot?

The word “meta universe” comes from the novel “Avalanche”, a cyberpunk classic. In novels and movies, the meta-universe can have the realism of the real world, or the imagination of the virtual world.

Compared with the traditional Internet, Metaverse puts forward higher requirements in terms of immersion, participation, and sustainability. Therefore, many independent tools, platforms, infrastructures, protocols, etc. are required to support its operation.

Video games are considered to be the most likely entrance to the meta-universe. At present, players can already play various roles in the game, and can complete life, work, and make friends in the virtual world.

In March of this year, Roblox , the parent company of the meta-universe concept, went public in the US on the first day of issue. The stock price rose 54% on the first day of issuance, and the market value reached 38.3 billion U.S. dollars.

Roblox claims that it connects the world through games, allowing anyone to explore tens of millions of immersive 3D games created by developers in the global community.

Tech giants and ordinary players are in the Nuggets "Metaverse" world

In April, Epic Games, the parent company of the game “Fortnite”, received a new round of $1 billion in financing with the concept of meta-universe. Prior to this, “Fortress Night” has held an “immersive” interactive virtual concert.

Technology companies are also actively deploying meta universe.

In addition to Nvidia, Zuckerberg also mentioned in a media interview recently, “Maybe in 5 years, or 7 years, people will mainly treat us as a meta-universe company, not a mobile Internet company.” Zuckerberg hopes that Facebook will become a meta-universe company within the next five years.

And Facebook’s Oculus also recently launched Horizon Workrooms, a remote office application with a meta-universe concept. With the help of VR/AR technology, users who participate remotely will have a virtual cartoon avatar.

According to Xinzhiyuan, Workrooms has realized a mixed reality (MR) experience. “People can interact on shared whiteboards or documents, use physical keyboards to communicate, take notes during meetings, bring files to virtual reality, and even Choose to share screen with colleagues”.

Domestic giants are also actively entering the meta-universe world.

At the end of last year, Ma Huateng wrote in the annual special issue “Three Views”: “Now, an exciting opportunity is coming. The ten-year development of the mobile Internet is about to usher in the next wave of upgrades. We call it the “True Internet”. ‘. The door to the virtual world and the real world has been opened. Whether it is from the virtual to the real, or from the real to the virtual, we are committed to helping users achieve a more real experience.” The concept of “True Internet” and “Meta Universe” The concept is very similar.

In February 2020, in Roblox’s G round of financing, Tencent also participated in it, and the exclusive agent for Roblox product distribution in China.

At the Tencent Games Annual Conference in 2021, Mr. Ma Xiaoyi, Senior Vice President of Tencent, mentioned for the first time the concept of “super digital scene”-Meta Universe.

ByteDance has invested 100 million yuan in the “Chinese version of Roblox” code universe. According to the official website, Code Qiankun was established in 2018. The company’s products include youth creation and social UGC platform “Reworld” (Reworld).

At the beginning of this year, iQiyi provided a partial realization of the “Meta Universe” through THE9 “City of Virtual and Reality” immersive virtual concert: creating a set of universal solutions and technically expanding the existing content IP, so as to Create an experience comparable to the “meta universe” in a specific scene.

In addition to Internet giants, Capital has also shown curiosity about exploring the “meta universe” world.

Among them, the domestic sandbox platform (similar to the open world game platform) developer MetaApp received a $100 million C round of financing led by SIG Heiner Asia Capital and co-invested by its founding partners CCV and Yunjiu Capital, which became a domestic dollar. The case with the highest amount of financing on the Universe Track.

Although the domestic social platform Soul failed to go public, it kept up with the trend of the times and changed the slogan to “the social meta-universe of young people.”

It seems that when most people still don’t understand the concept of “meta universe”, the big guys have already seen the potential of “meta universe” in the fields of social networking, games, blockchain, etc., and just put forward the concept of “meta universe”. Won the favor of capital.

Blockchain games and meta-universe

In addition to technology giants and capital in the meta-universe, ordinary people can already participate in the meta-universe world. The blockchain game Axie Infinity is representative.

Axie Infinity is a turn-based battle game. Players can collect fantasy creatures “Axie” to participate in the battle. The gameplay is similar to “Pokemon” and “Hearthstone”. In addition, Axie has a land system, Lunacia mainland.

Axie Infinity combines the concept of meta-universe and NFT. Although compared with other blockchain games, Axie’s graphics and gameplay have been greatly improved, but if you compare it to the entire game world, Axie’s game mode is not outstanding.

Tech giants and ordinary players are in the Nuggets "Metaverse" world

But the “players” of Axie Infinity do not come for the game experience. Their slogan is “play to earn”. By completing daily tasks, breeding and selling Axies and other game modes, players can get tokens SLP, and Axie Infinity also AXS tokens, tokens can be traded directly in the game or on cryptocurrency exchanges.

It can be said that in the financial system, the design of Axie Infinity is the best. AXS and SLP can be traded at any time on all major crypto exchanges, which attracts countless crypto asset investors, bringing higher liquidity and a larger market size.

Axie Infinity has attracted many players and brought great wealth. According to media reports, Axie Infinity’s single-day revenue is close to 20 million U.S. dollars, while TokenTerminal data shows that Axie Infinity’s total revenue in the past 30 days has reached 368 million U.S. dollars.

Even in Southeast Asia, there are already tens of thousands of people breeding Axie virtual elf, and using it to participate in battles in the game to win virtual currency to “make gold” operations.

Axie Infinity players formed the “Yield Guild”, a community of games like the “Gold” team. Gabby Dizon, the co-founder of Yield Guild, said in an interview that Axie Infinity can bring players three to four hundred dollars in revenue per month.

The popularity of Axie Infinity has even attracted the attention of the government. On August 23, the Philippine Ministry of Finance stated that income from games such as Axie Infinity is subject to income tax. The Philippines is the largest market for Axie. According to media reports, the official attitude of the Philippines is that it has not yet determined whether Axie is a currency or a security. “However, it is subject to income tax.”

Traditional games also have a “golden” team. In the documentary about the virtual economy of online games, domestic young people have already cashed in by playing World of Warcraft and other games, winning virtual coins and equipment in the game and then exchanging US dollars from foreign players.

However, the virtual economy in traditional games is a closed market. Although there will be some third-party gray industry exchanges for games that bring asset realization transactions in different games, they are also small-scale activities.

However, blockchain games such as Axie are different. The ownership of players’ virtual assets is recorded on the blockchain in the form of NFT. You can also make money and trade in the game, and have the right to vote on the use of the game’s financial vault and major upgrades of the game.

This is closer to the meta-universe concept, where players are not only participants but also creators.

Technology bubble

Ethernet Square co-founder Vitalik Buterin said in an interview, hope Ethernet Square in the next 5 – 10 years to run the universe after the yuan.

Although blockchain games such as Axie Infinity are popular, they cannot escape speculation and hype. To start the first year of the meta universe and realize the seamless connection between the virtual world and the real world, more hardware capabilities are needed.

From games, technology blockbusters to meta-universe worlds, visually, people can’t help but think of the hot VR products of 2016.

At that time, the VR concept from the future became popular all over the world as soon as it appeared on the market, and a company that successfully IPO based on the future VR concept appeared in the domestic market—Baofeng Technology.

At the initial stage of the listing of Baofeng Technology, the stock price soared from 7.24 yuan per share to 327.01 yuan per share, an increase of 45 times, and the market value once exceeded 40 billion yuan. However, as the concept failed to land, Baofeng Technology’s stock price shrank sharply until it was delisted.

It can be seen that Metaverse, like VR, can harvest financing and rise in stock prices based on concepts alone, and there is no lack of suspicion of capital “cutting leeks”.

Relevant senior practitioners said that the first entrance to Metaverse is AR/VR terminal, and it needs the support of 5G, cloud computing and other technologies.

At present, AR and VR devices on the market still have shortcomings. In terms of experience, clarity and refresh rate still have room for improvement. How to solve the problem of real somatosensory, how to establish the same physical experience and continuous operation in the virtual world as our real world? The rules established in the virtual world require a long time to study and realize, and the business model of Metaverse still has a long way to go before mature applications.

I still remember Zuckerberg mentioned in the media interview, “This may be one of the biggest technical challenges our industry will face in the next 10 years, and even’one of’ can be removed.” It can be seen that Meta Universe is difficult to land.

From the visions and explorations of the big guys on the future, it is conceivable that “XR” (new entrance to the digital world) + finance, entertainment, sports competitions… each combination may become one of the “meta universe” components.

VR, blockchain, and games are trying to open the door to the meta-universe world. With the continuous improvement of the maturity of AR, VR, 5G, cloud computing and other technologies, one day in the future, when you wake up, you can hear “Welcome into the meta-universe world” like in a movie. The future is still worth looking forward to.


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