According to the Korea Herald, South Korean financial institutions are faced up with a change of development focus from the real world to the digital field. At the meeting of bank executives, well-known bankers participated in the online meeting through the VR headset.
The youngster is regarded as the future growth source of financial business with the social concept in the Metaverse growing. Targeting this group, financial companies are introducing customized digital financial products and services based on online shopping platforms and subscription service platforms such as Netflix and Melon.
Zepeto is a social platform of Metaverse created by Naver, the largest Internet company in South Korea(KOR). The platform has 200 million users, 80% of which are under the age of 18 by February. DGB Financial Group, based in KOR, held an executive meeting in Zepeto on June 22. Its CEO and the CEOs of its five subsidiaries had a meeting in the form of virtual roles and assessed the influence of digitalization on traditional finance.
A spokesperson said, “DGB is keeping up with the trend of digital revolution and plans to open a Metaverse Bank in the near future, where people can purchase financial goods and services.”
IBK, a stockbrokerage firm in KOR, which signed a memo of understanding with Meta City Forum on June 22, also portrayed the bright prospects of its Metaverse Bank. IBK’s spokesman stated, “Young people in the next wave of computing will accept Metaverse Bank quickly and trade stocks in it. For them, it’s as simple as trading stocks through a mobile trading system like what they do now.”
Hwang Se-un, Korean senior researcher of Capital Market Research Institute believes that Korean people adapt to digital changes very quick. They will not resist it because innovative technology makes people’s lives easier. That’s why financial industry well-known for being conservative is also betting on the digit future. Therefore, traditional banks and financial companies are making overall plans to win loyal customers.”
As one of the promoters of the innovative technology industry, Facebook’s actions in the industry have attracted great attention from its counterparts. At the end of June, Zuckerberg proposed the brand-new plan of Metaverse inside the company, which will change their model of developing independent social applications and hardware in the future.
Following Facebook, technology companies and many executives discuss constructing a Metaverse in high spirits, regarding it as the next generation of mobile Internet technologies. Zuckerberg further depicted that the users, creator community, business model, and VR platform built by Facebook will be integrated to build a larger-scale Metaverse. In the Metaverse, Facebook will expand its original business and apply it to diverse scenarios such as socializing, office work, and entertainment. This is their overall objective.
The concept of Metaverse seems to get popular with the market and capitalists. With the perception in the Metaverse deepening, whether in the consumer Internet or the industrial Internet, it will embrace the Metaverse era of online and offline integration. The market reckons the Metaverse as a brand-new pan-entertainment method that play games and socialize by more sense of real-time, immersive, and diversified ways.
Roblox, recognized as the prototype of the Metaverse by the industry, is a game and social platform, in consistent with the underlying logic of the Metaverse. Games and socializing are the first application scenarios to come in the Metaverse because the virtual world is mainly built on game technology.
The concept of “True Internet”, mentioned by Ma Huateng, one of the founders of Tencent, is the result with the trend that new technology, hardware and software make imagined scenarios realistic .
However, to realize large-scale commercialization, the Metaverse have a long way to go due to the prerequisites of the maturity of the Internet, social platforms, and AR/VR. The Metaverse is essentially a virtual network world. When the foundation of hardware is well-prepared, it needs to enlarge the range of users to be the individuals in the Metaverse and these subjects create the content of the Metaverse. The users keen on social function of verticals will eventually be introduced to the giant industry’s Metaverse.
Being rigid demand of modern netizens, socializing has penetrated into multiple vertical industries, such as shopping, games, short videos and various hobbies community. The addition of socializing contributes to the realization of Internet’s public praise and the skyrocketed number of users. Also, online friend zones maintains users. Therefore, almost all applications in vertical industries have developed social functions.
As the growth of Internet users hit a plateau, in the future, to increase user value opening up vertical industry applications through socializing will become the main way for the Metaverse of Internet. For example, for enterprise platform-based like Tencent, Metaverse has a strong attraction because “linking everything” is the ultimate goal of Tencent. In recent years, the various film and television, literature, music, various technologies and content with intellectual property that Tencent has successively acquired have potential to be ushered into Tencent’s Metaverse in the future.
AR/VR is the key to the Metaverse. The Internet and social platforms cannot accurately project the virtual world onto the physical world, nor can they endow humans with a sense of deep experience in the virtual world. AR and VR technically solve these problems. AR can superimpose digital information on the physical environment, while VR can completely create a vivid virtual world.
Nowadays, after 5 years of precipitation, the AR/VR industry has entered a stage of accelerated growth. With the experience of VR helmet improving, cost-effective products have been presented. Owing to the continuous enrichment of game content, global technology manufacturers are also continuing to invest. On the one hand, relevant AR/VR products have been produced of great mass, and on the other hand, the application market has gradually improved, and more application scenarios have been launched, driving the explosive growth of the AR/VR industry chain.
In 2021, giants from various industries have announced their own Metaverse strategies, which has become a competitive focus. The extension of “Metaverse Socializing” also further promotes the upgrading of the industry, and it may also generate value of trillions of dollars as a new computing or content platform. For instance, Soul, a voice social platform, emphasizes its characteristic as a social Metaverse.
With the help of the concept of Metaverse, WIMI has rapidly developed 5G, 3D, AI, and AR technologies, and been committed to build an AR+AI vision platform to quickly count greatly in the industry. WIMI continues to build a fully immersed digital community, and expounds the future evolution of the game + social model. In terms of market competition, it means that its original model has been iterated. People can use digital identities to entertain, consume, socialize, create, etc. in the virtual world, as well as experience more in different scenarios.
In 2020, WiMi Hologram(WIMI), as the first share of the holographic concept, was successfully listed with the stock code: WiMi. It has obtained strategic investment from a number of powerful institutions such as Weibo, and its revenue has increased substantially by several hundred million yuan year-on-year. In the Metaverse social era, immersive consumer experience will be a new trend, which will give users brand-new experience ever.
Driven by technologies such as AR and VR, more immersive consumption may become the norm. Through the use of AR and VR, users will get a better shopping experience with a more intuitive and immersive shopping scene. For example, users will be provided with the service of AR face shape detector, and calculation of the makeup, hairstyle and skin care products by the results of scanning the faces for each user. Thus, the user can remotely receive professional beauty advice on the mobile phone.
WIMI’s functioned with AR virtual trying on shoes, allowing users to select their favorite shoe type and color and click on AR to try it on to see the effect. In such case, consumers are exposed with a more transparent information environment. Moreover, thanks to wearable devices and tactile sensing technology, compared to the current consumer experience that is limited to visual interactions, tactility may provide more immersive and better shopping experience.
The Metaverse socializing welcomes a boom, and the biggest impact is the game. Gaming is currently the closest “entry”. WIMI will continue to evolve from the gaming experience and provide users with more experience in entertainment, social interaction, consumption, learning and business work, covering various life scenarios. WIMI uses 5G and cloud computing technology to support large-scale users online at the same time, enhancing the accessibility of games.
Metaverse is a huge participatory medium, and the number of interactive users can reach hundreds of billions. At present, large-scale online games all use client side software, and run with game servers and player computers as processing terminals.
Through the research of cloud computing and other underlying technologies, WIMI upgrades the 5G high-bandwidth mobile communication network, and meanwhile enhances the sustainability of the game through blockchain technology. The advanced technology of WIMI breaks through the dual pressures of game accessibility and sustainability, and amuses the entertainment time of users.
Abundant content is one of the core elements of Metaverse socializing, which helps open and free creation and continuous production. To serve users a habitat in the virtual world, Metaverse must develop content producers, open other creative source to lower the creation threshold, and form a self-evolving mechanism.
The high-quality and high-fidelity content produced by WIMI is close to 5,000, and it has a comprehensive holographic IP rights content in stock. From 3D models to holographic virtual products, WIMI’s virtual holographic content meets the requirements.
In addition, the restoration of virtual and realistic interactive content is also the key point. WIMI has concentrated on in-depth R&D and applications in all parts of holographic 3D computer vision collection, AI synthesis, transmission, presentation, and application, covering everything from computer vision production to service platform construction, to cloud software development, technical support and other links.
WIMI holographic computer vision AI synthesis, top-level visual AI production plus professional visual presentation, prompt the gradual evolution of “Metaverse socializing” into “realistic socializing” in a virtual environment with high-precision reduction.
Metaverse will drive the industry to a climax of development, and its socializing function is actually a comprehensive upgrade of the experience. The virtual reality market is targeting the younger generation. Nowadays, with the rise of VR, AR, and AI, such network form composed of technology is spreading among the youth.
However, the core of Metaverse socializing is users, determining the market. Or, Metaverse socializing will not be born. Based on the current situation, the Metaverse society still needs to go through a long period of growth, which may spend 20 years or 30 years. However, the younger generation of consumers is more adaptive to new things, so the market is promising.
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