How did Soul make 2.2 billion by selling avatars?

Not long ago, a familiar name appeared in the IPO prospectus of the Hong Kong Stock Exchange — Soul. Its last attempt to go public was in 2022, and this is its fourth time in the ring. Who would have thought that after practicing for two and a half years, it has made a comeback.

This company had been losing money for several years, with a loss of 12 million in 2021, but then it gradually started making profits. Generally, the gross margin for internet companies is around 40-50%, but Soul's gross margin is shockingly high, reaching 81.5%.

So, how did it achieve this? Is it really just by selling avatars and skins?

Yes, it really is. On the platform, you can only use official avatars, and a basic cat avatar costs around 30 RMB, while those limited edition rare avatars can go for thousands. At this point, your profile can directly reflect your taste and economic status, influencing your social interactions on this platform.

In addition, the platform has many free social features, but with limitations on usage. When you're in the mood but run out of free attempts, you'll start spending money. There are also chat gifts, with the most expensive one, "Sunny Night Appointment," costing over 4000.

Of course, people are not fools; if there's really nothing to offer, who would be willing to spend this money?

The platform's self-developed AI system can help you match with suitable partners more accurately and can even help you polish your words, teaching you how to date step by step.

Moreover, the platform offers virtual companions, which are incredibly realistic. They care for you and ask about your well-being, and once you've experienced it, you'll understand how good it feels, willingly spending money on it.

By 2024, the company's revenue had already reached 2.2 billion. At first glance, it seems like it's selling avatars, but in reality, it's selling emotional value. #加密市场反弹