Hello and welcome to the Agenda，I'm Stephen Cole.

Some say it could be worth trillions of dollars in a matter of years,but this week we're asking whether the world is really ready to enter the metaverse.

有人说，几年内它可能价值数万亿美元，但本周我们要探讨的是，世界是否真的准备好进入元宇宙。

It's a new virtual world the metaverse, but what is it and how might it change life as we know it. In simple terms the metaverse is a virtual reality space in which users can interact with a computer generated environment and other users.But it's also being thought of as the ultimate coalition of digital and physical extended reality if you like

元宇宙是一个新的虚拟世界，但它是什么，它又将如何改变我们我们所认知的生活呢？简单来说，元宇宙是一个虚拟现实空间，在计算机生成的环境里，用户可以与其他用户进行交流/交互。但如果你愿意，它也被认为是数字虚拟和物理现实拓展的最终结合形式。

A recent survey showed that the country most looking forward to entering the metaverse is China,but just what will the Chinese metaverse look like and how will NFTs，the non-fungible tokens，which underpin much of the finances the metaverse work in that market.

最近的一项调查显示，最期待进入元宇宙的国家是中国，但中国的元宇宙会是什么样子，以及作为以及作为巩固元宇宙金融的NFT将会如何在这个市场发挥作用。

what joining me now is the Ziheng Ray Luo,director of international business development at Hello Wat，a Chinese company conducting the first ever NFT consensus experiment

今天我们邀请到Ray作为全球首家发起NFT共识实验项目的中国企业你好瓦特（Hello Wat）的BD负责人参与节目

And Ray first of all, can you tell me a little more about how NFT's fit into the metaverse

首先Ray,你能介绍一下NFT将以什么样的方式融入元宇宙吗？

Sure， NFTs are the core infrastructure of the metaverse，there can be transactions in the virtual world only by confirming the ownership to NFT. NFT is what enable private properties in the digital world of the metaverse and the transactions strengthen the economic ecosystem. Otherwise the metaverse is merely a game in the virtual world it would not be attracting the commercial attentions from global investors and governments.

NFT是元宇宙里的核心基建，因为只有通过NFT对虚拟世界里的东西进行了所有权的确定，人和人之间才会有买卖，有买卖才会有经济系统的建立，不然元宇宙仅仅就是一个虚拟世界的游戏而已，也不会吸引到各国政府、资本的关注。

In January the Grammy Award winning artist Justin Bieber, as I'm sure you know Ray,bought a Bored Ape NFT for $1.31 million. And in April the Chinese pop star Jay-Chou's Bored Ape was stolen，that one was worth just under 3/4 of $1 million I think

It looks like it's only for the super rich but is it something that ordinary people can get involved with？

1月，格莱美奖获得者贾斯汀比伯以131万美元的价格购买了一枚无聊猿NFT。4月，中国歌手周杰伦价值75万美元的“无聊猿”被盗；看起来NFT只适合超级富豪。NFT是普通人也可以参与的事情吗？

Yes ordinary people can get involved with NFTs,that's what we are doing right now,because the price depends on the seller.In the ideal future everyone could have access to the metaverse. With the advances of technologies such as VR，metaverse will be an all inclusive experience much like art，there is both expensive and accessible art.

是的，普通人可以参与NFT，这就是你好瓦特现在正在做的事情。因为NFT的价格将取决于每一个个体卖家。在未来，每个人都可以访问元宇宙，随着VR等技术的进步，元宇宙将成为一种包罗万象的体验，就像艺术一样，既有昂贵的艺术，也有普通人可触及的艺术。

Can you give us an idea of what China's metaverse market will look like，because there have already been more than 16,000 metaverse related trademark applications filed，so how will China's metaverse differ or will it be the same？

您能给我们介绍一下中国元宇宙市场的概况吗？目前中国已有16000份关于元宇宙商标的申请提交，中国的元宇宙将会是什么样的？

Well， metavers in China is at the stage of some sort of unconstraining development，there are two major groups in the metaverse. First is a big company that focus on the infrastructure, including hardware and ecosystem such as VR glasses and the other group focuses on the assets in the metaverse which is NFT.Eventually we can see the two groups coming together to form an ecosystem of the metaverse.

中国的元宇宙现在处于野蛮生长期，分为了量大阵营，大公司在布局元宇宙硬件、生态等基础设施，比如VR眼镜等等，另外一个阵营在布局NFT——元宇宙里的数字资产，两个阵营最终将走到一起，形成涉及方方面面的元宇宙大生态。

If we only focus on the NFT development in China our founder Mr.Gao suggest that there will be four stages in the first stage NFT is selling just pictures NFT has transaction values and it is also able to be traded,because it is on the chain therefore it could be traded and traced and it cannot be modified,therefore the value would not be greatly depreciated after usage.

The second stage is the commercial application of NFT by applying the technologies of block chain，NFT is bundling with services,for example if you buy NFT in a scenic spot you can get a free admission to the scenic spot

On top of that,there is the third stage of NFT which is bundling with physical goods

which could also be seen as metaverse e-commerce,for example by buying an NFT of wine you will also receive a physical counterpart of the object

When the NFT is established in a wider audience in the fourth stage,we aim for eventually

establishing a metaverse ecosystem that is tied with physical economy.

The fourth stage will begin with creating IPs,such as our game Miniwat to attract users

by gaining the consensus of those IPs.We'll create a wider commercial metaverse platform and use NFT on the platform.For example,our company's fast growing project Hello Wat in China is building a user community with NFTs.

单就NFT在中国的发展来说，我们的创始人高臻臻认为会经历4个阶段：

第一阶段：NFT卖纯图片阶段

第二阶段：NFT+商业赋能阶段，例如购买景区的NFT，可以免景区门票

第三阶段：NFT+实物电商阶段，也可以称之为元宇宙电商，比如购买了酒的NFT，就可以同时快递收到一瓶实物酒。

第四阶段：NFT打造元宇宙IP，用NFT来进行IP共识建立，例如，现在发展很迅速的你好瓦特项目就是这样的，通过NFT创造共识，集中用户，最后形成赋能实体经济的元宇宙生态。

At the moment,major NFTs in China are in the first stage,but there are increasingly amount of products of stage two and stage three coming into the market and our company is focusing on creating the stage four NFT development.

目前，中国市场的大多数NFT项目都处于第一阶段，但随着市场的发展，第二阶段和第三阶段的项目进入市场的数量也越来越多；而你好瓦特一直专注于成为第四阶段的NFT项目。

Ziheng Ray Luo，many thanks to you for joining us on the Agenda. Thank you

So that's the view of the potential Chinese market.

Ray，非常感谢您加入我们的节目“the Agenda”。非常感谢。

以上是来自于中国元宇宙市场代表企业的观点。