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The new favorite of technology companies: Metaverse…

Facebook, Alibaba, ByteDance, Tencent… The new favorite of technology giants, the metaverse draws attention as the prominent trend of the new world. So what is the metaverse? What will it bring? How long will it be live?

The technology company set its sights on a completely different world and started to accelerate its efforts to create this world. The social media giant has brought the metaverse into the limelight and is even planning to change its name, according to reports, to reflect its focus on the concept.

This technology fashion, called Metaverse, refers to virtual spaces that people can access over the internet using virtual reality (VR) and augmented reality (AR) devices, and it attracts the attention of many technology giants, including Microsoft.

In fact, it’s not just Facebook and Silicon Valley; China’s tech giants are also working on the futuristic concept. According to the news published by South China Morning Post this week; Gaming giant Tencent is getting ready to focus on developments in the metaverse space with a new game studio under its subsidiary TiMi Studios.

A spokesperson for TiMi Studios told Insider that the company has no intention of discussing any trendy words, but is committed to exploring the future gaming format.

ByteDance, the owner of TikTok, has also started to take steps in this area by purchasing Pico Interactive. ByteDance told Insider that it is optimistic about the future of VR. E-commerce giant Alibaba also appears to have joined the fray, registering various trademarks, including “Ali Metaverse”, last month. According to the news of AFP, short video application iQiyi from Chinese technology companies and electric car maker Li Auto are among those trying to comply with the new technology fashion.

Although there are steps from Chinese companies in this area, officially China is not that enthusiastic about the metaverse. Last month, state-owned media outlet Security Times warned against investing in the concept, which is still in its infancy. In the news he gave; “Investing is not a virtual game,” he warned: “Blindly investing in big and misleading concepts like the metaverse can end up hurting your pocket.”

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