- The stock price of Scienjoy Holding Corporation (NASDAQ: SJ) increased by over 30% during intraday trading. This is why it happened.
The stock price of Scienjoy Holding Corporation (NASDAQ: SJ) – a leading live entertainment mobile streaming platform in China – increased by over 30% during intraday trading. Investors appear to be responding to the company announcing it has established a strategic partnership with Beijing University of Posts and Telecommunications (“BUPT”) to research multi-user augmented reality technology and its applications for live streaming content and entertainment.
As part of the deal, Scienjoy will buy patents for “augmented reality technologies and systems for multi-user interactions” from BUPT. And Scienjoy plans to use these patents in multi-player games and multi-player live streams to enhance the user interactive experience in Scienjoy’s virtual reality second life worlds. Through the partnership with BUPT, Scienjoy hopes to further promote innovation and development in the live streaming industry and to explore research synergies between institutions of higher education and private enterprise on augmented reality (AR) technology. And this agreement represents a further deepening of the cooperation between BUPT and Scienjoy that was announced in January 2021 regarding the applications of web-based augmented reality technology (Web AR).
For Scienjoy, multi-user interactive augmented reality technologies are a further step in the company’s long investment in enhancing the user experience of live streaming and games with augmented virtual reality. And the traditional live streaming video experience is one-directional and relies on host appearance, performance skills, environment, and storytelling abilities. In the live streaming category where users are increasingly looking for interactive entertainment, traditional live streaming may become repetitive and cause users to lose interest in hosts and whole platform ecosystems over time.
Scienjoy has been at the forefront of researching and integrating AR, virtual reality (VR) and artificial intelligence (AI) to its social platforms to improve the user experience and maintain high user stickiness. And Scienjoy has already applied single-user AR technologies to allow hosts and users to supplement their appearance or environment and has also explored multi-player second life worlds.
This acquisition of multi-user AR technology will enable hosts and multiple users to interact in second life virtual world spaces and together interact with virtual objects and information. And unlike traditional online games, where players are only able to control virtual objects and avatars, AR games allow players to interact with each other, and virtual objects to interact with the physical environment, bringing a new level of novelty and interactivity to the live streaming game experience.
With the recent advancements in mobile devices and chip technology, smart phones and tablets now have the hardware to support AR entertainment. And the sensors needed for AR entertainment such as multiple lenses, gyroscopes, accelerometers, and others have all already become standard configurations. The application of these sensors also provides an unprecedented development opportunity for the popularization of AR technology on mobile social platforms like Scienjoy’s.
Currently, players in the mobile device field such as Google, Apple, Qualcomm, Huawei, Tencent, Alibaba, and Xiaomi and others are all engaged in the research and development of mobile AR related technologies and products. As a leading live entertainment mobile streaming platform provider, Scienjoy will continue to find applications of mobile device technology to further integrate AR to its social platforms and strengthen the user experience.
With a goal of seizing the opportunities of the 5G era for the live streaming industry, Scienjoy has made considerable investments in research, has accumulated solid technology reserves, and has attached great importance in R&D personnel to apply technologies to the platform. As user habits evolve, AR technologies advance, and new forms of entertainment are developed, the role of live streaming will be redefined and applied in new ways.
“In the future, Scienjoy plans to fully integrate virtual and reality through the combination of 5G and AI, AR, VR and other technologies, to give users a more realistic and rich immersive experience. I believe that the purchase of these AR system patents, which represents a further step in Scienjoy’s strategic commitment to entertainment R&D, will bring great value to Scienjoy’s live streaming ecosystem.”
— Victor He, Chairman and CEO of Scienjoy
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.