Facebook, Inc. (NASDAQ:FB), (RBLX) – Flowing Cloud Technology Files for Hong Kong IPO Amid Metaverse Frenzy
Key Takeaways:
Streaming Cloud began as a games engineer in 2008 and sent off its most memorable AR/VR stage in 2017
Gains in income and benefit have been consistent however the low-edge AR/VR advertising administrations division could scratch future edges
By Ken Lo
Flowing Cloud Technology Ltd., which charges itself as the greatest player in China’s expanded reality (AR)/computer generated reality (VR) space, has quite recently joined to list partakes in Hong Kong. After Mark Zuckerberg made the metaverse a family word in 2021, and a McKinsey and Co. report assessed the metaverse could be valued at $5 trillion by 2030, the IPO appears to be all around planned. Regardless of humble starting points, Flowing Cloud has turned into a significant example of overcoming adversity in China and is beneficial. Whether it can stay fruitful and collect sufficient cash to grow when metaverse stocks have seen their benefits and offer costs faint remaining parts to be seen.
Flowing Cloud began as Ophyer Technology in 2008. Ophyer created and sold computer games. The shift to AR/VR began in 2017, when Ophyer recorded on the National Equities Exchange and Quotations (NEEQ) leading group of the Beijing Stock Exchange for little and medium-cap organizations. Ophyer shut down the games business in 2019, delisted from NEEQ, and rearranged in 2021. In December 2021, it changed its name to Flowing Cloud.
Flowing Cloud is in a no holds barred race with Tencent-upheld (0700.HK) Soulgate, which petitioned for a Hong Kong posting in late June. Its Soul application, sent off in 2016, is China’s first metaverse-based person to person communication stage, where all clients cooperate through symbols with virtual characters. Streaming Cloud declared last year that it would fabricate its own Feitian metaverse stage, which will likewise assist with working with business collaboration among clients and clients. In its plan, notwithstanding, it said that Feitian “is at a preliminary stage with no committed business model for monetization,” adding that the turn of events and eventual fate of Feitian “is highly uncertain.”
The IPO comes when metaverse organizations are seeing record misfortunes. U.S online entertainment monster Meta’s (NASDAQ:
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