Alibaba jumps into the VR world

Alibaba has set gigantic plans about “immersive shopping experience” via Virtual Reality for its more than 400 million consumers.

Virtual reality (VR) gained many discussions these last days, as many VR announcements were released by MasterCard, Sky, Playstation …Facebook becoming the owner of Oculus, and finally Alibaba. The big Chinese company created research lab GnomeMagic to develop its VR products and services.

This will include the setup of a marketplace for all physical VR devices, software, and 3D models while also boosting VR content on Alibaba-owned media channels such as Youku Tudou.

Alibaba introduces VR to several other services

alibaba

The company, based in Hangzhou, recently announced that it was looking at how VR could be used for its other services like video streaming and online video games. Alibaba thinks VR technology will become as popular as television. According to Goldman Sachs, the VR and augmented reality hardware field will be worth $110 billion by 2025.

Earlier in March, Alibaba started an $800 million funding round in the augmented reality startup Magic Leap, based in the US, and through GnomeMagic Lab, will work with some affiliates such as Youku Tudou to do new videos and music, and help to promote VR hardware manufacturers on its own platforms.

Big hopes for VR in the long-term

Alibaba has big hopes for VR in the long-term. The company wants to set a large product gallery of 3D images for consumers and bring its e-commerce empire straight to the VR-world.

According to Zhao Haiping, an engineer working for Alibaba who worked on developing this platform, “VR technology is able to create an immersive shopping experience for consumers,” and “perhaps in the close future, our users will be able to do shopping straight on Fifth Avenue in New York, while still sitting on their couch.”

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But we are not really there. Yet ! At the moment, the Alibaba program is trying to set an online marketplace for VR equipment, software, etc..

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