Bilibili Announced its Full Entry Into the Blockchain and Meta-Universe Markets

Follow us on Google News

Key Takeaways:

  • Bilibili announced its full entry into the blockchain and meta-universe markets by testing its “UPowerchain” in connection with its Metaverse business.
  • UPowerchain is a native digital community built for new applications, cultures, games, and digital assets, and it will eventually support community governance.
Bilibili Announced Its Full Entry Into The Blockchain And Meta-Universe Markets
Bilibili Announced its Full Entry Into the Blockchain and Meta-Universe Markets

According to a report published on Monday by TechPlanet, Chinese video streaming platform Bilibili is testing its “UPowerchain” in connection with the company’s Metaverse business. According to a person familiar with Bilibili, UPowerchain is a native digital community built for new applications, cultures, games, and digital assets, and it will eventually support community governance.

According to the test screenshots shown in the news, “UPowerchain” is a type of “Metaverse ecology” that creates an open, innovative, and inclusive digital native community. Blockchain is the underlying technology necessary to build Metaverse. It should be noted that UPowerchain will be used in the upcoming new generation digital world, “Metaverse.” Bilibili’s Metaverse will soon be open to the public.

At the moment, UPowerchain’s vision is to provide channels for digital asset mapping tokens, invite diverse applications to join this ecology, realize digital asset circulation across applications, and provide users with a variety of usage scenarios and display stages of becoming the “possession identity authentication + asset repository” of organizations or individuals. On the Metaverse, Bilibili has its thoughts.

Bilibili CEO Chen Rui said that 

“At present, almost all discussions about Metaverse are at the media and capital level while few people who make products talk about the Metaverse. There must be enough breakthroughs on the products and technologies to realize the Metaverse, which can not be achieved in the near future. However, to be honest, the realization of it can really bring users a better experience and a better vision, as well as one more choice”.

Chen Rui even said that,

 “I think the most important thing in the concept of Metaverse is to have a self-circulating ecological supply of content, which can’t be done by a single company. After all, to build a new Metaverse world, there must be many creators, and they also need to make money in it. This is the very idea that the Bilibili ecology has been adhering to. The virtual uploader is a good example. By motion capture, Uploaders become another image, which many followers welcome”.

Because Bilibili’s Metaverse is built on blockchain technology, blockchain is an important underlying technology that plays an important and supportive role in identity authentication mechanisms, economic system construction, and creator value guarantees. Bilibili hopes to use blockchain technology to complete the layout of the Metaverse’s core components.

Default image
Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.