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NetEase, Another Chinese Game Giant Consider Entering The Metaverse

Margaret Shi, investor relations director at NetEase confirms the company is “technologically ready” for the metaverse. Also, confirm knowledge on how to accumulate metaverse technology.

Furthermore, as gaming makes up over 70 percent of the company’s earnings. Of course, NetEase net revenue in the third quarter hits RMB22.2 billion (US$3.4 billion). Notably, this is as it sees a year-on-year increase of 18.9%. That’s, online games amassing for 71.62% revenue, touching 15.9 billion yuan (US$2.48 billion).

Additionally, The games Identity V and Onmyouji are NetEase representative works.

More so, Chinese internet tech giants are currently going into the metaverse, with games and social media.

Additionally, Tencent also confirms it has “a lot of tech and capability” to move into the metaverse, just as NetEase.

So, it goes on to build new studio for developing metaverse business.

Lastly, the entertainment giant ByteDance, TikTok owner acquires VR glasses manufacturer Pico as a part of its metaverse strategies.

Galaxy Interactive Rises Additional $325M Fund For Metaverse and Next Gen…>>

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