Chinese social networking firm Inkeverse is continuing its push into the metaverse with the launch of a new social product for overseas markets called “The Place.” As a 3D virtual social platform for Generation Z consumers in Europe and the United States, it provides users with immersive social experiences through virtual scenes and images, as well as through real-time audio interaction.
This is the first overseas metaverse product launched by Inkeverse since changing its name from “Inke” in June this year. After logging in, users can customize the face and clothes of their virtual image freely, wander around in different scenes, interact with their partners in real time, and participate in online activities.
The team behind The Place is responsible for Web3 projects in Inkeverse. Project leader Liu Zhiqiang said that at present, social metaverse has many labels, such as virtual images, virtual scenes, games, combination with hardware, and more. Apart from difficulties with infrastructure and technology, Liu believes that solving the needs of social interaction is the key, and that the fundamental logic of designing products is to grasp the needs of users. The secret to making a good product for overseas markets is to have a quick and accurate understanding of local cultural habits, popular elements, preferences, needs and so on.
A considerable number of Inkeverse’s team members have rich experience and overseas study backgrounds. The project team will also find local young people to do part-time jobs, such as local research and feedback collection, so that the company can adjust the product strategy in real time.
Inkeverse achieved revenue of 4.061 billion yuan ($573 million) in the first half of the year, up 0.7% year-on-year, according to the company’s first financial results report since changing its name. The net loss in H1 was 111 million yuan, compared with a net profit of 142 million yuan a year earlier. The company didn’t disclose operating data of its metaverse business.
On May 16 this year, Inkeverse announced the start of its metaverse business by issuing over 1,000 NFTs jointly with HootLabs, an overseas NFT platform. Two days later, the industry’s first karaoke app based on metaverse was launched. On June 9, it launched a metaverse romance product called “Couple Planet,” allowing couples to create a private space in the metaverse.
Inkeverse aims to increase the integration of socialization and metaverse, and to build a richer and multi-dimensional scene to meet the more subdivided needs of users.