For the second time ever, the Hurun Research Institute released its ranking of the 200 companies from the Greater China region with the most potential in the metaverse. The metaverse is an immersive, 3D online world that users access via a combination of physical and digital modes.
Alibaba and Huawei topped the list, with NetEase, Tencent, and Baidu close behind in the top 5. Huawei is a key partner in several industry alliances aiming to support metaverse development through greater cooperation, most recently joining Xiaomi in signing on to one spearheaded by China Mobile. Meanwhile, Alibaba is partnering with blockchain provider Avalanche to launch Cloudverse, a launchpad for businesses to customize and maintain their own metaverse spaces on the blockchain.
Among the companies listed by Hurun, which all have an enterprise value of more than 1 billion USD, 16% are state-owned enterprises and 84% are private enterprises. The vast majority (170) are publicly listed, whilst the remainder, including Huawei and ByteDance, are unlisted. Compared to last year, a greater proportion of enterprises in underlying technologies, ecological applications, and terminal industries made the list, as opposed to platform and network technology companies which were represented in greater numbers last year.
Source: Dao Insights