08 The Metaverse Overview : Vision, Technology, and Tactics | Preface Analysis of the stock prices of three leading Chinese technology companies Although Baidu, Alibaba, and Tencent have all deployed in the Metaverse, this has not influenced their stock prices much over the past six months, except during mild fluctuations during "Metaverse fever" in November 2021. However, Alibaba's stock price went into a volatile decline during the past quarter as its primary business revenue and gross merchandise value (GMV) growth disappointed. Analysis of the stock prices of three Chinese Metaverse companies China's Metaverse Index rose 30% in 2021, with most of that rise coming in the fourth quarter. ZQGAME was up 270%, AVIT rose 185%, and COL gained 69%. However, because they did not generate Metaverse-related income, all three companies' stock prices retreated 2022. As described above, capital market enthusiasm for the Metaverse has declined. There are three reasons for this. First, the development speed of Metaverse-enabling technologies and applications has not matched the continuous rise of consumer expectations for Metaverse applications. This year is expected to see a continuation of that trend, with Metaverse development throughout the year slower than the public expects. Second, most Metaverse practices, intending to cater to the Metaverse craze, remain at the conceptual stage. It is difficult to achieve far-reaching breakthroughs or returns on capital investment at speed. Third, technology, products, rules, and regulations continue to restrict the actualization of enterprises' and consumers' visions of the Metaverse. Technologies do not have the ability to create a true Metaverse experience yet, and related products including hardware and software have not matured. In our still centralized world, there has been no quick creation of decentralized rules to support the Metaverse, and it will not transform easily or quickly from a niche market into a universal consumer group. What kind of Metaverse will exist beyond its initial popularity and now that capital market excitement has cooled? The Metaverse will fundamentally reshape people's productivity, lives, and social relationships, in time creating a new world. This is the development direction of Metaverse. After the excitement subsides, companies that focus on accurate positioning, continuous development, and outstanding ability will produce a viable Metaverse that inspires renewed excitement.