Byte bet on another 100 billion market, quietly entering the digital fashion industry
2022-04-26
The reporter learned that the chattering of the tiktok under the byte was quietly entering the digital fashion industry, and the plan was launched the business called pheagee. The business was affiliated with Shanghai BOJO Technology Co., Ltd., which is a related company wholly owned by bytes, and its legal person is the VR PICO "leader". It is reported that "boiling silence" is a new digital fashion community, which mainly integrates science, technology and humanities into fashion and constructs a new market for the fashion industry. People familiar with the matter tiktok or related to virtual clothing, virtual people, virtual fashion and other aspects, and the voice business, PICO and other business linkage, become a platform for continuous output of digital fashion. At present, the project team is located in Shanghai and Beijing. Byte digital fashion business, and many of its own businesses are connected in the later stage. Tech planet found that some digital fashion product managers recruited by byte recently are clearly required to be responsible for digital wear scene exploration and function iteration, and realize the implementation of solutions and tools for virtual fitting, including but not limited to AR fitting special effects on app side and picture virtual fitting. It also has an in-depth understanding of the development trends of rendering engine, digital man and virtual idol. It can be seen that the project wants to connect its own multiple businesses for collaborative development. Tech tiktok is looking for the byte, and the voice rebuffed the head. "Boiling" is a fashion creative platform for fashion designers. It is still in the early stage of exploration. Digital fashion is an emerging industry, focusing on fashion design, wearing and collecting culture in the digital field. The rise of digital fashion is due to the combination of physical fashion industry transformation and virtual technology after the epidemic, so as to create online goods for sale and display, and lead the new trend of wearing. Not long ago, the digital fashion platform rtfkt created a pair of virtual sneakers for musk, which quoted up to $50000 on the Internet and caused 10000 people to loot. Some people can't understand it, and some people think it's worth it. Is it a crazy world or a new consumption trend? Everything behind this is the new consumption trend brought by the rapid rise of digital fashion in recent years. Rtfkt virtual shoes worn by musk and Kanye, source: from the Internet. Byte beating is looking for the next internet ticket through the layout of the emerging digital fashion industry. Byte quietly builds a digital fashion industry chain Digital fashion is an essential part of people in the virtual world. In the virtual world, or meta universe, virtual clothing can enable users to express multiple self identities in the virtual world and explore a new lifestyle of their virtual image. It is similar to that game players show another self through skin wear, and build a virtual spiritual enjoyment space in the game. Not long ago, according to VentureBeat, the digital fashion brand the fabric completed a round of financing of $14 million led by Greenfield one. This round of financing also set off a wave of capital investment in digital fashion. Subsequently, a number of digital fashion related enterprises obtained investment. The infiltration of capital has accelerated the development of digital fashion. We need a new digital narrative model, which can benefit every user in the digital economy. From the market background, digital fashion has broad development space, and the entry of bytes is not a fad. According to the 2021 digital fashion report released by British fashion shopping search platform LYST in cooperation with the digital fashion company the fabric, about 3.5 billion people around the world are digital fashion customers, accounting for more than 55% of the total purchasing power. Analysts believe that in China, the market will reach 100 billion yuan in the future. For byte, it is obvious that this emerging market will not be spared. Although the byte digital fashion business is still in the early exploration stage, the basic industrial chain has been formed virtually. In addition to "boiling silence" as the output source of digital fashion products, bytes have actions in the technology and application scenarios associated with digital fashion. Digital fashion is inseparable from technical support, especially the technical support closely related to the meta universe, such as Mr, XR, VR, AR, etc. Just last year, byte spent a lot of money to acquire Pico, a meta universe technology manufacturer, which provides support for byte in digital fashion technology. In addition, tech planet also learned that after the acquisition of Pico, byte is increasing its research on XR and MR, and has recruited technical talents from AI enterprises such as Kuangshi, which will also enable real people to wear in a more real way through AR and other forms. It is worth noting that byte's digital fashion business is currently affiliated with Shanghai boiling silence Technology Co., Ltd., whose legal person is Ren Lifeng, the relevant person in charge of byte VR business Pico. According to relevant sources, the digital fashion business will have a certain relationship with Pico. Fashion related virtual people and virtual idols will also become important scenes of digital fashion. It is not difficult for these virtual characters to easily bring fire to a virtual dress. They are KOL in digital fashion. Byte has also made clear the exploration of digital people and virtual idols in recruiting relevant digital fashion posts, and has invested in virtual digital people "Li Weike" and virtual idols a-soul in recent two years. Source: recruitment official website information. On the consumer side, byte also tries to encode the connection between digital fashion and e-commerce. Tiktok is currently building a digital fashion oriented e-commerce team. E-commerce is an important consumption window of digital fashion. Through the AR fitting function in digital fashion, it can achieve a very real fitting effect, enable users to complete virtual fitting online, and then complete shopping according to the experience results, which will improve users' purchase efficiency. Of course, the final application scenario of digital fashion will still be the virtual world. As technology promotes the development of the Internet to the meta universe, each user will play a role in the virtual world, and these roles are inseparable from the consumption of virtual clothes, which is undoubtedly a huge consumption scenario. Huawei, Tencent and xiaohongshu are also competing for layout In addition to bytes, leading enterprises such as Huawei, Tencent and xiaohongshu are also intensively arranging digital fashion business. In April 18th, Xiao Hong book and Xintiandi XINTIANDI launched virtual fashion activities. Join hands with 9 famous designers to launch new virtual fashion products in xiaohongshu R-space, including 18 limited virtual fashion products released by 9 brands such as annakiki and Chenpeng. Users can also unlock and experience these digital clothes in various forms such as AR in the R-space function module of xiaohongshu's personal home page, send notes to share with platform netizens, and drive the social atmosphere in the community through this novel fashion. Not only that, recently, xiaohongshu also launched the "xiaohongshu virtual fashion recruitment plan" to invite designers, artists and other creators who love, are creative and have ideas about virtual fashion to settle in xiaohongshu. The entry of these designers will create a digital fashion atmosphere for xiaohongshu, let users experience different wearing experiences and get in touch with cutting-edge digital fashion. Tencent's layout in digital fashion is mainly based on super qq show, and has a mature way of realization. Super qq show continues the creative play of QQ show in fashion clothing, that is, users can dress up virtual characters by purchasing virtual clothes to express their personality. However, compared with the static QQ show, the more dynamic super qq show can better show virtual clothes to others, which also makes digital fashion get effective application scenarios, followed by driving users to pay for these virtual clothes. Tech planet learned from several groups of super qq shows that whenever the super qq show releases a new issue of digital fashion, many Post-00 group members will rush to buy it first. Although the price of a set of clothes is about 80 yuan, they will not hesitate, and publish the wearing pictures after purchase to others in the group. In addition, in the group, some members of the group will provide relevant dressing strategies for others' reference, which seems to form a digital fashion communication community. Traditional enterprises, such as Li Ning, also use the super qq show to show the trend to z-era consumers through joint digital fashion. It can be seen that both Internet enterprises and traditional garment enterprises hope to complete the transformation of consumers' consumption concept in terms of clothing through digital fashion. As a technology company, Huawei signed a "Ai digital fashion industry joint innovation project cooperation agreement" with a company in Zhejiang at Huawei headquarters in Shenzhen in January this year. Based on Huawei cloud AI Pangu large model technology and star chain c2m digital industry solution, Huawei provides digital overall solutions for traditional industries. Then, at the end of January, it signed a cooperation agreement with the people's Government of Longhua District, Shenzhen on the new digital fashion industry city, which plans to build "the first digital fashion city in China". For Huawei, digital fashion may become an important pawn in its new consumption. Under this tuyere, the digital fashion industry will become a new round of battlefield of the Internet and even the traditional clothing industry. Find the next "growth curve" of bytes According to Bloomberg quoted people familiar with the matter, the two tiktok equity trading shows that the valuation of the bypassing beat of the parent company is now over 250 billion US dollars (about HK $1 trillion and 950 billion), second only to Tencent and Ali. For the current byte, relying on a jitter, tiktok is difficult to sustain in the future. Just like Tencent and Alibaba, they not only rely on their respective social, game and e-commerce advantages, expand in more directions, and realize the absolute occupation of these new markets, so as to support the existing valuation. Therefore, bytek has explored markets in many fields in the past year. Looking at the layout of byte in new business in the past year, it can be found that byte has realized business expansion in at least 9 directions, mainly in e-commerce and metauniverse. According to the arrangement of public information, the figure shows the main businesses with only partial byte layout. Except that the e-commerce business is gradually growing into another growth engine of bytes, other businesses have not shown the expected results or are still in the stage of exploration. In the case of weak advertising, education and games, the byte is in urgent need of finding a new growth curve, even beyond the tiktok, and proves that it can still create the ability to explode money. The incoming digital fashion may become a new growth point of bytes. It can be found that other businesses explored by byte, such as music, novels and social networking, have long been the stock market, and the competition is particularly fierce, while digital fashion is an uncultivated field. Preemption means being closer to success. In addition, there are greater opportunities in the new market. In the Internet, people's largest consumption is concentrated on "clothing, food, housing and transportation". For example, "food" has been controlled by meituan takeout, "line" has been controlled by Didi, "live" has been divided by relevant Internet enterprises, but online "clothes" have not been moved. Digital fashion can undoubtedly be used as a sharp weapon to pry this market and become a new consumption scene on the Internet. Moreover, digital fashion can be well connected with byte's "e-commerce", "virtual human" and other businesses, which can help byte improve ecological complementarity and create greater
Edit：Li Ling Responsible editor：Chen Jie
Source：Tech Planet
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