Byte Yuan Universe company surfaced, and it was named after Metaverse for the first time among the domestic Internet giants

In the tide of the metaverse, the participation of ByteDance is indispensable.

Xinyan Finance exclusively learned that recently, Byte has completed the claim of its own Metaverse company. According to industrial and commercial information, a company named Shanghai Metaworth Technology Co., Ltd. has undergone personnel changes. The company’s legal representative will be changed to Wang Fengkun on December 10, 2021. Wang Fengkun is the head of byte advertising technology and serves as byteduo subsidiary company. The company was established on August 31, 2021, right around the time when Byte was revealed to acquire VR equipment maker Pico. It can be seen that Byte has already planned ahead in the layout of the metaverse.

According to people familiar with the matter, Metaverse is the Chinese transliteration of the English name Metaverse of “Metaverse”. This is the first domestic Internet company to name a new company with the concept of Metaverse.

It is worth noting that this metaverse company is wholly-owned by Pico Metaverse (Hong Kong) Limited, which is also named after the concept of the metaverse, and the main body behind it is Pico. Visible Bytes will still use Pico as the infrastructure of the metaverse, and on this basis, carry out the layout of the related metaverse ecology. Byte established a company named after the Metaverse this time, or prepared for a better layout of the Metaverse business in the future.

At present, the metaverse and metaverse-related corporate structure that Byte builds on the basis of Pico have taken shape.

In fact, due to the wave after wave of the metaverse, it has attracted many big Internet companies to participate. Recently, 36Kr reported that Tencent plans to acquire Black Shark mobile phone company. After the acquisition, Black Shark will turn to VR equipment, Tencent will provide content, and Black Shark will provide VR hardware entrance. This is an important step for Tencent in the layout of the Metaverse. step. NetEase CEO Ding Lei also has his own opinion on the Metaverse, thinking that NetEase is ready, while Baidu has launched the Metaverse App Xi Rong.

Inside Byte, the discussion of the Metaverse is not low. An employee of Byte revealed to Xinyan Finance that some internal colleagues are very interested in the discussion of the Metaverse, and some colleagues even buy a set of Pico equipment in Entertainment is carried out in the company, but it is generally not called “Metaverse” internally, but replaced by Pico.

In fact, in addition to the establishment of the Metaverse Company this time and the acquisition of Pico, which is an important “entrance” to the Metaverse, Byte has also invested in and participated in a number of Metaverse-related projects since the middle of last year.

Among them, the code Qiankun of Byte Investment launched the metaverse game “Restart the World” in November last year, and then invested in the virtual idol company Lehua and the virtual human company Li Weike on the content side.

Under the pressure of the advertising business and the fact that other businesses have not yet improved significantly, Bytes urgently needs to find a new growth point, and taking the Metaverse as a new expansion direction is the only choice. With Pico’s leading position in VR devices and its layout on the content side (novels, IP, medium and short videos, virtual idols), this will help Byte to have a good start in the domestic metaverse track.

Baszucki, CEO of Roblox, said: “In the metaverse, first of all, the user needs to have a virtual identity image, which can be a rock star or a fashion model. At the same time you can also socialize in the metaverse, which has to be ‘immersive’. . With low-latency links, you can be anywhere, anytime. A wealth of differentiated content supports long-term interest, and a secure and stable economic system ensures that people can live in the metaverse.”

The above passage of Baszucki is considered to be the most thorough explanation of the current metaverse. In short, users can enjoy the pleasure of real life in the virtual world, which is equivalent to replicating a real world in the virtual world, including scenarios such as e-commerce and new consumption.

For Byte, it can not only integrate its own business into the metaverse, but also create new businesses in this world. Under the established rules, the metaverse business may become another new revenue growth curve for it. .

But it is undeniable that bytes are still lacking in some areas of the metaverse. For example, as an important carrier of the metaverse – “games”, it is still where bytes need to be coded. At present, bytes are in medium-to-heavy games. In terms of R&D, compared to Tencent and NetEase, the industry leaders, there are still many gaps. After Byte has established Metaverse, how to solve these problems may become the focus of its next thinking.