The Metaverse will fundamentally reshape people's productivity, lives, and social relationships, in time creating a new world. With the sharp drop in Metaverse-related stock prices in 2022, excessive enthusiasm of capital market has since started to subside, and people now view the Metaverse opportunity more rationally. A glance at the global and Chinese markets reveals that the Metaverse is by no means just an experiment for small-scale players, but has become a landscape for all of humanity to explore the next stages of development in society, technology, legal systems, and the arts. Looking back at 2021 – the first year of the Metaverse – its breakout was much more intense and the responses of market participants were much faster than they were when the internet entered global consciousness.
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