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The Metaverse Overview : Vision, Technology, and Tactics | Industry Epic, the American game development ByteDance owns Reworld, a game creation and and marketplace platform. In cloud ByteDance focuses on hardware interactive content platform for teens. It computing, Tencent launched cloud entrance, content and applications, has also launched Pixsoul, a social app game START, and with the Metaverse and its current product matrix featuring face art creation. gaining more attention in 2021 including Douyin, Xigua Video, Toutiao, registered a series of trademarks and TikTok support networks in its ByteDance's launch of its Metaverse including QQ Metaverse, Tencent Music Metaverse strategy. social game app Party Island, which is Metaverse, Game for Peace Metaverse, currently in beta testing, is expected Honor of Kings Metaverse, and Oasis In the access layer, ByteDance soon. In October 2021 TikTok launched Metaverse. In NFTs, Tencent has acquired Pico, a leading Chinese VR its first NFT series, TikTok Top Moments. developed the Huanhe marketplace manufacturer in September 2021. In the network layer, ByteDance is built on top of its proprietary Zxin In the application layer, in April 2021 entering the market with Volcengine as Chain. ByteDance invested RMB100 million in an independent business unit for the Code Qiankun, which developed and public cloud market. Figure31: Chinese internet and technology enterprises in the Metaverse Perception & VR/AR VA/AR VA/AR VR/AR(pico) Display Layer ( Baidu VR) (TenVR) Social, Gaming Application Layer Social, Gaming (Hyryang) VR Shopping ( Buy+) Social Contact (Reboot World) Cloud Game (Yuanjing) Cloud Gaming NFT Products ( START) ( TikTok Top Moments) Game Engine Platform Layer NFT Platform (Unreal) Game Engine (Whale Scout) NFT Platform (Restart the World) (Magic Core) Cloud Computing Cloud Computing IoT AI Network Layer AI Internet (Alibaba Cloud) (Tencent Cloud) Cloud Computing AI Chips AI Blockchain (Ant Chain) Blockchain AI (Volcano Engine) (Confidence Chain) Source: Open source data, Deloitte analysis 3.4 The NFT industry chain blockchain (public chains, side chains, Public chains are independent, NFTs are one of the fastest-growing developer tools, token standards, community-oriented blockchains arenas of the Metaverse, catering to wallets, and payments) and network- like Ethereum and Flow Blockchain. people's curiosity, pursuit of artistic attached storage. The infrastructure Ethereum, with its long history, is the creativity, and investment demand for layer creates and captures the value leading blockchain in the NFT market. digital art collections. The NFT industry of the NFT value chain through NFT Sidechains are new blockchains chain has four layers: infrastructure, minting. For example, the gas fee created to alleviate high traffic, production, circulation, and derivatives. during minting goes to the blockchain, improve public chain performance, and the more NFTs minted, the higher and realize certain functions that some The infrastructure technology the value captured by the blockchain. public chains cannot fulfill. Protocol layer is mainly composed of standards create an underlying logic 37

Deloitte The Metaverse Overview - Page 37 Deloitte The Metaverse Overview Page 36 Page 38

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