The popular omnichannel training company Meten Holding Group (NASDAQ: METX) jumped 21% in early Wednesday trading following an update regarding the company’s metaverse vocational education courses. The edge of the so-called ‘metaverse’ seems to be growing ever closer, as huge tech giants pivot towards the new age of digital interaction. It’s quite something that Metaverse educational courses exist, and illuminated the stark reality that this could be much more than a cultural fad.
The company made a previous announcement back in December 2021, when the company initially launched a trial of its metaverse vocational educational courses, covering various subjects such as video post-production, game rendering, architectural visualization, interior design, UX design, and Building Information Modeling application. The focus on the metaverse gained real traction over the pandemic, when digital interaction was suddenly front and center stage. With the resurgence of Covid in early 2022, Meten’s courses achieved a gross billing of around $1.57M in Q1; anticipating further growth in the near future as the concept continues to gain traction.
The courses cater for both the novice and those with more experience; both aimed at ensuring customers earning the required skills necessary to reach industry standards.
Mr. Alan Peng, CEO of Meten Holding commented:
“We are excited to achieve significant progress in launching the metaverse vocational education courses in the face of the challenging environment. With the rapid development of vocational education and increasing demand for talents, we believe vocational education is an integral part of the education industry and wish to help more students achieve their career goals.
“We will continue to launch the Courses in major cities in China, once the number of COVID-19 cases decline sufficiently. We expect to achieve a gross billing of RMB50 million (approximately US$7.86 million) from the Courses in the full year 2022, with the goal of cultivating 2000 visual design talents.”
The company are still on the backfoot of Covid restrictions, but it seems like the floodgates are waiting to open. Targeting the rapidly expanding, new-age ‘metaverse’ could be incredibly lucrative for Meten, but investors might have to wait for a drop in Covid cases for bookings to reach the level they need to be.
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Oliver is a financial writer and analyst specialising in the US stock market, with years of personal experience in understanding micro/macroeconomic structures, market trends and fundamental analysis.