On Sept 6, ZQGame attracted wide attention again by announcing that the company will launch a business simulation metaverse game "Brew Master", that would allow players to "brew online, taste offline". Since the launch event, ZQGame’s stock price has been hitting the 10% rising limit for two consecutive days, along with a number of other stocks related to the metaverse concept.
The term "metaverse" normally referring to combining a broad range of technologies such as AR/VR, online games, cloud computing, and ultra-high-definition video to create an immersive virtual experience that is portrayed in movies like Matrix and Ready Player One. As of now, every major tech company – from Facebook to Google – is actively venturing into the metaverse space by either making AR-enabled hardware devices, or building software platforms that support the metaverse experience.
This doesn’t stop ZQGame from riding the tides of a hyped-up market. Multiple metaverses related stocks are rising rapidly and causing some concern. Outfit7 Ltd., the company behind “Talking Tom” is suspected by the regulatory authorities of clout-chasing and market manipulation. The Shenzhen Stock Exchange even issued a letter of concern, requesting them to explain the relevance of the company's core business to the metaverse concept, despite Outfit 7 claiming they “firmly believe in the development of the metaverse and have put together a special team for that".
Metaverse-related stocks rose considerably for two days in a row)
With the continuous development of technologies such as AR/VR and cloud computing, the metaverse are turning from concept to reality. However, as ZQGame has admitted in their announcement, a true metaverse is still seemingly distant.