China's ByteDance lags behind more established tech giants in direct metaverse technology, but its metaverse tech stack is second only to Tencent.
Chinese company MiHoYo
Founded in 2012, MiHoYo (米哈游) is a Shanghai-based game developer best known for its recent global blockbuster Genshin Impact, an open-world action RPG that became the world's highest-grossing game last year.
Chinese company MiHoYo is the main backer of Soul, a social networking app aimed at Generation Z in China. The proto-metaverse app has filed for an IPO in the United States with MiHoYo as its private backer. MiHoYo also has research centers focused on metaverse-related projects. In 2018, Chinese company MiHoYo established a center dedicated to brain-computer interface research. CEO and founder Cai Haoyu 蔡浩宇 also said that Genshin Impact was born out of his interest in open-world concepts, a prototype of the metaverse found in games today.
While small compared to the other tech companies on this list, Chinese dominican republic email address company MiHoYo is focused on a vision of the metaverse in a way that other tech conglomerates aren’t—and can’t. Cai, who boasts a Steve Jobs-like confidence in reading consumer preferences, aims to create a virtual space that will be home to 1 billion people worldwide by 2030, with his company aiming to make virtual worlds as realistic as those depicted in The Matrix.
Chinese company MiHoYo is in the midst of a global expansion, hiring new staff and opening new offices, such as one in Montreal. With a group of world-class game developers, MiHoYo is likely to be a formidable competitor in the Chinese metaverse space.
8. Top 10 Chinese Companies Investing in the Metaverse: Chinese Company Lilith Games
Founded in 2013, Shanghai-based Lilith Games (莉莉丝) is one of the top five Chinese game publishers by revenue, known for award-winning mobile games like AFK Arena and Rise of Kingdoms. With 1,900 employees across 180 counties and regions in China, Lilith, like its competitor MiHoYo, is gearing up for global expansion.