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Facebook's announcement of changing its name to Meta and its plan to enter the Metaverse has attracted widespread attention from all over the world. The Metaverse has become one of the hottest concepts in the technology field. Looking around the world, mankind is accelerating on the road to the digital world. In this field, GSMG (GSMG.US) has been making plans for a long time and is gradually building a metaverse space world with "Enjoy+" as its core. In order to allow users to have a broader realistic experience and understanding of the Metaverse, Yaoshi Xinghui announced that it will build the first Metaverse Space Experience Center in New York, Beijing and Shenzhen.

The basic characteristics of the metaverse have been generally recognized by the industry, namely: immersive experience, rich content, strong social attributes, and a stable system. Guotai Junan also pointed out in a research report that the new era of the metaverse is about to begin, with hardware taking the lead and virtual entertainment following closely behind. This coincides with the metaverse space of Yaoshi Xinghui's full ecological layout with "Enjoy+" as the core.

"Enjoy+" Metaverse Space Steadily Innovates

Yaoshi Xinghui's metaverse space is supported by blockchain as the underlying technology. Through VR equipment and 5G all-round transmission media in cooperation with Yaoshi Xinghui, it builds a truly Yuexiang metaverse world based on its digital platforms Yuexiang Video, Yuexiang Mall, Yuechat CheerChat and Yuexiang Car CheerCar.

In 2016, Yaoshi Xinghui launched its first high-quality lifestyle content aggregation platform, Yuexiang Video, and started its layout and exploration in the digital field. Yuexiang Video focuses on technology and product innovation in five areas: eating, drinking, playing, entertainment, and shopping. It has successively developed leading PGC interactive e-commerce live broadcasts and incubated more than 70 global short video IPs.

In addition, after several years of dedicated research, in 2019, blockchain, one of the underlying technologies of the Metaverse framework, achieved a breakthrough, and the research and development of the YueXiang Alliance Chain was successfully completed and put into market operation. During the same period of 2019, we focused on developing new content e-commerce and successfully implemented a platform model that drives the development of new e-commerce with high-quality content. In 2020-2021, Yaoshi Xinghui signed AR strategic cooperation agreements with China Mobile Migu Video and China Telecom Tianyi Video, which enabled Yaoshi Xinghui to take an important step towards building the metaverse space.

Relying on the comprehensive commercial application of Yaoshixinghui's blockchain technology, in 2021, the research and development of NFT assets, DAPP, and Yuexiang's in-car CheerCar have been completed and put on the market. The overseas version of CheerChat "Yuehiao" social APP, which is about to be launched, is also an NFT commercial application based on the Yuexiang Alliance Chain, which has made sufficient technical support and preparation for transactions in the Metaverse space. After five years of development, Yaoshi Xinghui has built many metaverse operation elements such as "content + e-commerce + social + games", becoming one of the few companies with deep layout in the metaverse field in China. This has also laid a solid foundation for its long-term performance growth and profitability improvement. In the future, Yaoshi Xinghui will continue to improve the immersive life scenes in the metaverse space based on multiple areas that are closely related to people, such as eating, drinking, playing, entertainment, shopping, etc.