Tencent has competitive advantages in creating a metaverse, says CEO Pony Ma

Video games are the tools to enter the Metaverse

Tencent Holdings Ltd., a Chinese multinational technology conglomerate holding company, has competitive advantages in creating a metaverse, said its CEO Ma Huateng, also known as Pony Ma. The company’s approach will be different and it will put “more efforts” and “resources” into the Metaverse than more people expected. Besides, Metaverse will be a “core part” of the company’s business development in the future.

“Metaverse is an idea that ties many technologies together, it makes the virtual world become more real while it offers people virtual and fantastic experiences that they couldn’t get in the real world. Our rich experience in games, social networks, and artificial intelligence will give us competitive advantages over others and help achieve success in the long run,”

pony ma

Video games are a way to the Metaverse for Tencent

Games, if considered as an instrument to open the door of the metaverse, is the key. Tencent is looking to enter the competitive metaverse scene through its video game and social networking businesses advantages, confirmed by President Martin Lau.

However, this is not the first time the company shared its view on Metaverse. “To develop a super virtual and digital scene, the company will adopt Metaverse”, said Senior executive Liu Ming of Tencent last June at ChinaJoy.

What is Metaverse

The term “Metaverse” came for the first time in the 1992 cyberpunk novel Snow Crash. Metaverse is living a life in a virtual space where every detail of our physical world life is covered. In a simple context, Metaverse is an online or internet-based world or a shared virtual platform where people can interact with each other. Steven Spielberg’s sci-fi adventure film “Ready Player One” is a perfect fit to define what Metaverse means simply.

Other companies are leading the way as well

Niantic metaverse
Niantic’s Lightship platform

Metaverse, while shown as a dream to some, is claimed as a nightmare by other technologically advanced companies like Niantic. So, a fitted shape is under demand by the companies themselves. To achieve the suitable shape, Niantic launched Lightship ARDK globally to let developers build a real-world metaverse last week.

“Metaverse” is a hot topic nowadays floating over the internet. Besides the hype of NFT, it is probably one or two of the most attractive topics now. Tencent filed to register nearly 100 metaverse-related trademarks, including “QQ Metaverse”, “QQ Music Metaverse” and “Kings Metaverse” in September.

What are your thoughts on Tencent having competitive advantages in creating a metaverse? Let us know in the comments below!

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