Jack Ma’s Prophecy Comes True Again
Notice! Jack Ma’s prophecy comes true again: At the post-covid19 times, the most profitable business is not stocks, not real estate, but…
Those who pay attention to the capital market will surely find that the stock market bustling in the past few years, the real estate business that has attracted much attention for a long time and most other traditional market fields have gradually less popular than the past. Instead of these traditional industries, a new stars rising in the market is the crypto field based on blockchain technology, such as Metaverse, NFT, Web3, etc.
The title of this article may sound headline-grabbing: Aren’t Jack Ma, stocks, and real estate all stunts? To be honest, it dose, but you can find something meaningful after reading it!
Following the agricultural economy and the industrial economy, the digital economy has become a new form and new driving force for the global economy — high-tech, mainly including 5G, big data, artificial intelligence, VR, AR, MR, blockchain, cloud computing and so on, not only gave the birth of massive data but also promoted the transformation of social economy to its digital form.
At the same time, the further convergence and integration of information technology and social production, the rapid development of the Internet, changes in industrial forms and changes in user needs, etc., all promoted the process of deepening the transformation of various industries in the direction of digitalization. In this process, the sense of smell of the capital was the sharpest.
Although Jack Ma retired, he still have the control of Alibaba after all and his business strategy and long-term vision can be reflected by the fact that all Alibaba’s series of plans for the Metaverse are at the forefront of all Internet giants in China.
Not long ago, Alibaba led an investment in mixed reality (MR) technology startup Nreal, with an investment of over 300 million yuan. Earlier investments in the metaverse field can be traced back to 2016 — the C round and D round of AR unicorn MagicalLeap, in which Alibaba led the investment of about 700 million US dollars.
After that, Alibaba’s layout of the Metaverse became more and more clear and recognizable: the establishment of Hangzhou Shudian Technology Co., Ltd. (a layout of VR equipment hardware and XR laboratory, focusing on 3D modeling and holographic technology research and development, Yunjingshengsheng (a service provider of the integration of research and operation for the cloud games), WhaleTalk (the largest digital collection platform in China) and application for registration of many Metaverse trademarks, such as “Ali Metaverse”, “Taobao Metaverse”, “Dingding Metaverse”, “METAMEETING”, “METALEARNING” and so on.
At the blockchain sub-forum of the World Artificial Intelligence Conference on July 10 last year, Jiang Guofei, vice president of Ant Group and president of its intelligent technology business group, said: “With the arrival of the digitization of industrial collaboration, the integration of blockchain and AIoT, privacy computing and other technologies will become the future trend of intelligent technology.” He then showed the Ant Chain hard-core blockchain technology at the meeting — an all-in-one conception machine, a 5G communication module and the first European blockchain trophy.
As Ali has moved from the digitization of the enterprise by itself to the digitization of industrial collaboration, it applies blockchain technology to financial services such as data information mutual trust and leasing in the new energy vehicle industry chain and launches an IP business platform with the application of Ant Chain which makes IP upgrade from “wholesale” to “retail” mode, not only meeting the needs of technological innovation and integration but also helping to solve many practical problems in business. These doings form the mainstream trend in the development of the current industrial metaverse and business metaverse.
This trend is in line with the needs of technological development in the times and the development status of digital social life. It is not only sought after by capital but also encouraged and supported by national policies and guidelines in China.
In terms of capital, venture funds around crypto projects have exploded, invested by Sequoia Capital, Bain Capital, SoftBank, Tiger Global, a16z and other internationally renowned investors. At the same time, cryptocurrency funds of hundreds of millions of dollars are also emerging. In 2022, various cryptocurrency funds launched by venture capital institutions have exceeded 10 billion US dollars.
In terms of national policies in China, in recent years, a number of relevant policies from the central to local governments have been supporting the development of industries such as blockchain, digital economy, and metaverse. In June 2021, the Ministry of Industry and Information Technology of the People’s Republic of China and the Central Network Information Office jointly launched the “Guiding Opinions on Blockchain Technology Application and Industrial Development”. From 2021 to 2022, Metaverse industry construction and demonstration bases were established in many places across the country, such as Beijing, Xiamen, Shanghai, Hangzhou and other places. In March 2022, suggestions at all levels on the development and supervision of the Metaverse are made during the Two Sessions. Just several days ago, on April 16, the Metaverse Culture Laboratory of Tsinghua University was officially established…
The help of capital and the support of policies have further clarified the strategic position of the blockchain and the Metaverse industry and promoted the development of blockchain and Internet technologies, the prosperity of the Metaverse industry ecology and the construction of its application scenes.
Although, as a new digital economic carrier, the Metaverse has not yet shown its full picture, many different digital ecosystems derived from it are in progress, such as the innovation of underlying storage technology solutions, the popularity of NFT, the carnival of GameFi, etc. Its market has broad prospects and great potential. PUGG is a pioneer on the road of digital economy development. As a metaverse project with GameFi as an entry point, PUGG combines DeFi, NFT, SocialFi and DAO co-governance models. After being equipped with visual NFT and commercial aggregation launchers, it will continuously improve the construction of “Metaverse +” life scenes, which is expected to provide Metaverse citizens with immersive experiences more efficiently and conveniently such as work, social interaction, and entertainment.
The digital economy industry not only brings good news to technological innovation and industrial revolution at the national and enterprise levels, but also brings new opportunities to participants in various fields. At present, with the outbreak of the society’s “bubble” economy and its sticking to traditional industries, the resources of the industry are occupied in large quantities and the whole society is forced to fall into a situation of “involution”. The inherent order and old rules shackle a new generation of young creators. Only industry changes and new productivity drivers can break the “involution” and enable new transformative forces which are urgently needed to get into social development.
Therefore, in terms of value distribution and digital economic dividend growth, at the level of not only “making money” but also the personal and industrial development, the blockchain industry and its derived fields such as crypto and metaverse are all areas of potential value most worthy of our attention, discussion and research.