1. Market Background

1.1 Ecosystems of Different Content Platforms

The monthly worldwide internet user base has reached 3.268 billion, with a growth rate of less than 1% over the past three years. The daily use of apps has also remained stable in recent years. Dividends from growing user traffic have peaked, so content platforms need to compete for users' extremely limited and un-growing leisure time to further tap into the value of existing users.

Content is the primary attraction to retain users, and improving user stickiness is a key point in fully unleashing user value. Enhancing the content experience can effectively increase the time users stay on the app and deepen their usage.

1.1.1 Limitations of Text Content Platforms

Every day, Facebook, Instagram, Twitter, and other social networking sites generate a large amount of textual data through users' posts, likes, and tweets. These data contain a wealth of information that can provide us with insights. Understanding unstructured data is essential for managing business interests because approximately 80% of business data is unstructured. With the exponential growth of social media, its share will continue to increase over time.

However, although massive information can help us create valuable insights, it is highly unstructured and requires processing before analysis. The lack of objective market incentives demotivates users' initiative and value precipitation in textual content creation. Therefore, in the past, basic textual content creation tended to have a more 'bad money drives out good' phenomenon during the screening and recommendation process.

1.1.2 Limitations of Video Content Platforms

With the rapid development of new-generation digital technologies such as mobile internet, artificial intelligence, and big data, video content has quickly evolved and is gradually replacing traditional graphics and text. It is becoming a new content carrier that satisfies users' fragmented entertainment needs in the digital economy era. Broadly speaking, media has rapidly developed from early commercial newspapers to the commercial internet, on which short videos thrive. We can conclude that technological progress brings four benefits:

● Continuous increase in network bandwidth;

● Information content is becoming more specific;

● Production and distribution costs are reduced;

● User acquisition costs become lower.

Video content creation platforms have not changed the industry chain or pattern; they have only changed the entry point, turning TV watchers into short video fans. Therefore, short videos belong to entry-type platforms.

In terms of regions, in markets represented by Europe, America, Japan, and Korea - regions that are also stock-quality markets - TikTok has already formed a stable advantage. According to Sensor Tower data from June 2021, TikTok's monthly active users in the North American market reached 130 million, with a penetration rate of nearly 40%.

However, despite the encouraging market share, the lack of social and value precipitation in video content creation platforms and the existence of leading video creators has made it difficult for many creators to stand out from the video content. A video content creation platform that needs value and social amplification has become a necessary requirement.

The technological monopoly of super platforms has been controversial. Both the industry and academia believe that super platforms bring many profound problems, such as digital labor. The technological monopoly of super platforms is quite controversial, and there are views in the industry and academia that super platforms bring many deep-rooted problems, such as the phenomenon of digital labor. Besides, the internet content distribution intermediary platform holds a large amount of user traffic and dominates the recommendation and distribution of content, which causes distorted production relations on the platforms.

1.1.3 Limitations of VR Content Platforms

Platform development based on future VR/AR virtual content creation

Virtual reality (including augmented reality and mixed reality) is an important direction for the new generation of information technology. It also constitutes a major prospective field in the digital economy. Currently, it has offered strategic opportunities for the digital industry, and in the long term, it is anticipated to profoundly change the production and lifestyle of human beings.

Along with the development of VR/AR and other new technologies, a new era of the metaverse is quietly approaching. In the future, content creation requirements and technical standards will be greatly impacted. For example, the content created will become more complex and will require more diversified creation tools and effective effect resources.

As one of the enablers of digital creativity in the universe, Wealth Message looks forward to embracing a new era of co-creation, sharing, and joint governance driven by creators with its members around the world.