2023-11-24
In a pivotal segment of the 2023 WTA • Xianghu Dialogue titled “Empowerment of Science and Technology: Tourism Promotes Industrial Integration”, Mr. LV Minghong, CEO of Flying Global Limited, shared his insights on the “8K Flying Theater: The Combination of Large-Scale Technology Entertainment and Urban Consumption”.
Here are excerpts from his speech:
We are in the process of constructing an offline metaverse, a realm where through technological innovation, users can transcend time and space, immersing themselves in a world of fantasy. Take, for instance, our project on Beijing’s central axis, where a 40-year-old cinema has been transformed into a landmark project blending culture, tourism, and commerce.
Currently, we are in the preliminary phase, what we call version 1.0, of integrating technology, entertainment, commerce, and cultural tourism. We have developed equipment with six degrees of freedom, capable of simulating real movements and actions from any angle. This technology finds applications across various industries, from F1 racing and automotive performance testing to pilot training in aviation. We enhance the experience with special effects like wind and scents, allowing users to engage through sight, sound, taste, and smell, creating a truly immersive experience. Whether it’s the metaverse or other technologies, the key to product development is to provide consumers with a delightful, convenient experience.
From a business perspective, our model revolves around “people, goods, and places”. The key is to attract foot traffic with large-scale indoor entertainment technology and develop diverse revenue models, including ticketing, educational programs, party-building activities, secondary sales, retail, space subleasing for business, exhibitions, and subtle advertising integrations. We are exploring and experimenting with how to combine technology, cultural tourism, and commerce to create a sustainable business model.
We are actively evolving towards a 2.0 version, committed to creating richer, more diverse immersive scenarios. Our vision extends beyond generating revenue; we aim to use our central axis location to serve and promote various cultural and tourist attractions. In the era of the pandemic, many tourist spots have shifted to online or metaverse VR travel. At our venue, visitors can experience flying over Yunnan, enjoying its breathtaking landscapes, tasting local snacks, purchasing unique products, and exploring other attractions in the coming months.
We also aim to build a platform for commercial promotion, extending into realms like e-commerce and live streaming, to realize more commercial possibilities. As we explore how to blend technology, cultural tourism, and commerce into a sustainable model, we face various real-world challenges. We believe that for operators in the tourism and cultural sectors, turning an idea into reality involves overcoming many obstacles. However, we are confident in our ability to succeed.
Looking ahead, we believe that the integration of technology with cultural tourism, scenic spots, or commerce requires careful consideration. We must ponder our investment’s purpose, our guests, the benefits it brings, and the challenges we face. These are critical issues that we must think about and resolve.