December 2, 2022

Tencent published a whitepaper to explain its vision for metaverse
Aron Chen
posted on September 28, 2022 6:35 pm
According to the whitepaper, Tencent’s version of metaverse focuses more on businesses-to-to businesses (B2B) than consumers-to-consumers (C2C).
Chinese social network and gaming giant Tencent explained its version of metaverse in a white paper published on Tuesday with consultancy Accenture.
Unlike most tech companies referred the business idea of immersive virtual world as Metaverse, Tencent used the term “Quanzhen Internet” to explain the idea that ties many technologies together and express how they all interconnect.
According to the whitepaper, Tencent’s version of metaverse focuses more on businesses-to-to businesses (B2B) than consumers-to-consumers (C2C).
Quanzhen Internet can apply to the fields include the Zoom-like video conference service, digital factories and the use of artificial intelligence in finance, according to the white paper.
Other applications include remote technologies that allow worker to operate vehicles and machines with a remoter so that companies can minimize the risks of their employee getting injury in dangerous places such as coal mines, Tencent noted in the white paper, highlighting that Quanzhen internet can help “solve practical issues in real-life scenarios for businesses.”
Tencent CEO and founder Pony Ma first mentioned the term in Tencent’s annual brochure where he said “Quanzhen Internet” is the next wave of internet upgrade after the last decade of the mobile internet, people can shape a new way of life through the linkage of virtual and real worlds.
Metaverse is a relatively old idea, and it did get too much attention until recently. As emerging technologies like virtual reality (VR), augmented reality (AR), 5G continue to advance over time, startups and big tech firms rushed into the sector to commercialize the concept.
Game has long been the backbone of Metaverse, the business ideas of Metaverse have been successfully adopted in games by tech companies. In Roblox’s metaverse worlds, users update their avatars with new clothing, gears and accessories on a regular basis using in-game currency Roblux. Any players can create and sell their own designs or games on the platform, creators make money when players purchase virtual items using Robux within their games. Then, creator can convert Roblux to real cash via the exchange program of the platform. This in-game economy system acts like a bridge that connect real-world business ideas with items of virtual gaming world.
Apart from business-to-business Quanzhen Internet, Tencent has competitive advantages in developing consumer-focused metaverse. We’re already seen Tencent to do things like selling branded content and avatar skins in its mobile game in “Honor of Kings, and Tencent also has Wechat and QQ which gives them a huge online social payment system for game Meta still doesn’t have.  
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