Alibaba Responds to Establishment of “Yuanjing Shengsheng”: Future Business Related to Metaverse

alibaba
(Source: FX Audit)

According to enterprise information inquiry platform Qichacha, Chinese e-commerce giant Alibaba set up a wholly-owned subsidiary called “Yuanjing Shengsheng” on Monday. On Wednesday, insiders of the company revealed to Chinastarmarket’s reporters that the firm’s future business is related to Metaverse.

Yuanjing Shengsheng (Beijing) Technology Co., Ltd. has a registered capital of 10 million yuan with Peng Wei as its legal representative. Its business covers software development, computer system services, performance brokerage and Internet information services. Its shareholder information shows that the company is wholly owned by Hangzhou Ali Venture Capital Co., Ltd.

According to previous reports of Jiemian News, the firm released its sub-brand “Yuanjing” for its cloud games at the Beijing International Game Conference (BIGC 2021) held in September this year. According to the company’s introduction, “Yuanjing”, the external brand of Alibaba Cloud Game Division, is positioned as an integrated service platform for cloud game research and operation.

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Alibaba also applied for registration of trademarks such as “Alibaba Metaverse” and “Taobao Metaverse” before. According to Qichacha, as of November 17th, companies have applied for 4,368 trademarks related to “Metaverse” in China, involving 689 companies. Among them, 4,366 applications were submitted in 2021, involving 688 companies.