Tencent Ventures Deeper Into the Metaverse With Virtual Concert Patent

4th March 2022
Tencent Ventures Deeper Into the Metaverse With Virtual Concert Patent

Tencent has filed for a patent for virtual concerts in the metaverse, despite Beijing pushing back against the metaverse and NFTs.

The Chinese tech giant filed the patent with the Chinese National Intellectual Property Administration (CNIPA).

In November 2021, the People’s Bank of China (PBoC) declared it would track NFTs and metaverse projects with anti-money laundering tools. Nonetheless, over a thousand Chinese companies have submitted 16,000 metaverse related trademark applications.

CNIPA has said it would crack down on “malicious” registrations in light of the rising number of metaverse applications.

On new year’s eve, Tencent held China’s first ever virtual concert in the metaverse called TMLAND. Over 1.1 million fans joined the festival.

Tencent also bought Los Angeles-based animated concert startup Wave, which specialises in motion-capture technology to create realistic virtual concerts. In August 2021, Canadian singer The Weeknd used Wave to broadcast a virtual concert live on TikTok, which attracted 2 million people.

Other Chinese tech titans including ByteDance, NetEase and Baidu are also filing for similar trademarks.

Read more about Tencent’s foray into the metaverse here.

Written by Bread News Team
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