A Chinese Video Site Tests Its Blockchain UPowerchain To Build Metaverse

One of the largest video sites in China, Bilibili (specifically famous for the content thereof, which is specified for anime, games, and comics fans), is checking UPowerchain (a blockchain) that could assist the firm in constructing the metaverse business because the tech giants in China are struggling hard to enter the field of the metaverse.

It has been confirmed by Bilibili that the organization is currently constructing what is termed by it as UPowerchain, with the present focus thereof to distribute ownership certificates related to digitalized operations.

A browser instrument capable of being utilized for checking the on-chain information is accessible live, as stated by Bilibili. The Hong Kong and Nasdaq listed site for video streaming seems to become a suitable match in the case of metaverse due to its advanced online community.

Bilibili’s CEO, Rui Chen, mentioned during a November earnings call after the issuance of the firm’s report of third-quarter that several content creators are working within the system of Bilibili. That is why the respective company provides an adequate venue for further exploration of the concept of the metaverse.

For instance, the platform has many content creators who benefit from technology just as motion capture to be transformed into a virtual world’s character. They tell jokes, dance, and sing with their avatar, as stated by Chen. All of such things have allured the consumers. In this way, the move counts to be an adequate instance of the implementation of the creation system within the idea of the metaverse.

It is noteworthy that Bilibii has in advance developed 267M active users on a monthly basis, as specified by the third-quarter report. Among such MAUs, a considerable majority thereof is the most energetic, creative, and young Chinese.

Thus, the forum is perhaps counted among the prominent organizations practising or entering the business of metaverse, Chen pointed out. The metaverse concept is continuously grasping attention, and the tech giants of China are entering the respective race.

The CEO and chairman of Tencent (a social media and payments giant based in China), Pony Ma, stated in November that the field of the metaverse is a much thrilling space; however, there is some ambiguity as well as opportunity in it that specifically provide growth for the present industries. Another video gaming firm of China, NetEase, also revealed that the platform would turn out to be the most rapid organization in the space of metaverse.