The Metaverse Overview : Vision, Technology, and Tactics | Preface 2. 2022: Rationality & Exploration Compared with the curiosity and ambition shown in 2021, markets and individuals have tended to be more rational and explorative towards the Metaverse in 2022. The capital market has been the best illustration of this shift, where valuations of Metaverse enterprises now largely depend on whether their business models can create real value for companies and customers. Analysis of the stock prices of business, continued to rise due to time high set in November 2021, three world-leading technology growth in its core business. Google including a drop of 27% from companies has retained its leading position in the start of the year. Roblox's Q3 Although Meta has the most advertising, its primary business, and 2021 revenue was up 195% year-on- influential voice and business Amazon and TikTok have had less year, and analysts expected large reserves in the market, its stock short-term impact on its position. capital flows into its stock. However, price fell about 20% in the first The explosion in internet traffic once passion for the stock cooled, quarter of 2022, missing analysts' driven by COVID-19 has also provided investors began to pay more attention expectations. Facing an intense a substantial boost to Google's to Roblox's profits, which missed onslaught from rivals including TikTok, performance, which has continued to expectations. conventional Meta (facebook.com) push up its stock price. Baidu, Alibaba (USD) Tencent (USD) user growth stagnated, with daily Oculus's stock price has also 250.00 80.00 active users falling by a million users in The share price of Microsoft, which dropped sharply in 2022 after a 200.00 60.00 one three-month period. Meanwhile, announced its Metaverse business steep rise in the second half of 150.00 40.00 Meta's other apps, WhatsApp and at the same time as Meta did, also 2021. The virtual reality hardware 100.00 Instagram, saw significant drops rose, with some fluctuations, due company had previously maintained 50.00 20.00 in user growth. Meta's Metaverse- to a massive breakthrough in its cloud growth, aided by 2021's stock market 0.00 0.00 related businesses continue to burn business and solid performance in excitement around the Metaverse. 2021/8/2 2021/9/2 2021/10/2 2021/11/2 2021/12/2 2022/1/2 2022/2/2 money and have tended for some traditional software. However, after this heat subsided, Baidu Alibaba Tencent time to hinder the company's overall the many issues with Oculus head- development. Analysis of the stock prices of two mounted display devices, including global Metaverse companies their weight, physical and emotional Unlike Meta, the share price of By February 2022, Roblox's stock discomfort, high prices, and limited Google, which has not put too price was down 47% from its all- consumption potential, began to AVIT much effort into its Metaverse attract attention again: 14 12 10 8 6 Figure2: Share prices of Roblox and Oculus (Feb. 2021-Feb. 2022) 4 2021/10 2021/12 2022/1 2022/2 Meta, Microsoft (USD) Google (USD) ZQGAME 400.00 3,100.00 40 360.00 2,700.00 30 320.00 20 2,300.00 10 280.00 0 240.00 1,900.00 2021/10 2021/12 2022/1 2022/2 COL 200.00 1,500.00 20 15 2021/2/122021/3/12 2021/4/12 2021/5/12 2021/6/12 2021/7/12 2021/8/12 2021/9/122021/10/122021/11/122021/12/122022/1/12 10 Meta Microsoft Google 5 Source: Yahoo Finance, Deloitte analysis 2021/10 2021/12 2022/1 2022/2 06