AR and VR services provider Flowing Cloud was officially listed on the Hong Kong Stock Exchange on October 18 as its first metaverse-related inventory, with a gap worth of HK$2.21 ($0.28) per share, equal to the problem worth. Nonetheless, shares then noticed a 2.36% fall to HK$2.07 on October 19, leading to a complete market worth of about HK$3.747 billion.
Flowing Cloud’s prospectus is fairly placing, because it mentions “metaverse” greater than 300 occasions. Based in 2008, Zhangzhong Feitian Know-how, the predecessor of Flowing Cloud, was listed on the Nationwide Equities Trade and Citation (NEEQ) in 2017. It was aimed on the cell recreation market, then progressively turned to AR and VR, withdrawing from the NEEQ in 2019. In 2021, when the metaverse idea immediately grew to become a success, the corporate constructed a brand new platform and in November modified its title to Flowing Cloud, asserting its strategic structure within the metaverse discipline.
AR and VR gadgets, as front-end entrances to the metaverse, are stuffed with potential once more. Flowing Cloud said in its prospectus that AR and VR are the important thing functions to realize and empower the immersive expertise of the metaverse, and that they’re the conditions and entry thresholds for its improvement stage.
Due to this fact, AR and VR advertising providers have now change into crucial supply of earnings for Flowing Cloud. Based on information from iiMedia Analysis, Flowing Cloud ranks first within the AR/VR content material and providers market by way of income, accounting for a 2.6% complete market share in 2021.
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