BEIJING, July 24, 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced that it developed a complete holographic virtual wear system based on Web3.0 technology, consisting of a display module, a product control module, a product selection module, a product simulation module, an interaction module, a trading system module, an information statistics module, and a sharing and evaluation module.
The virtual wear system is based on Space Web, a Web 3.0 technology. Retailers can create new virtual shopping experiences where users can virtually try on clothes, cosmetics and accessories. For example, customers can use the technology to try on clothes and shoes, try on jewellery, and try on cosmetics before making a purchase, and see how they look with those products through 3D holographic technology.
The user can fuse and display the 3D holographic product model with the user’s image through the camera. The product control module is responsible for adjusting the position, size and angle of the 3D holographic model of the product, obtaining the user’s image in the scene, and then reading the 3D holographic model of the product and fusing the 3D holographic type of the product with the user’s image and displaying it.
Virtual Try-On: By uploading photos, users can have the system generate a set of holographic 3D digital model information of the user, wear and match on the model, and see the effect of the product on the body without trying it on personally.
To make the product models more realistic, WiMi adds texture, light and shadow, and other detailed simulation effects. For example, texture mapping technology is used for clothing, by drawing many different texture maps for the same clothing model to imitate different colors, patterns, materials and so on. In this way, multiple pieces of clothing with different colors, patterns and materials share a single model, which can greatly reduce the cost of clothing model manufacturing and save the storage space of the somatosensory virtual system.
WiMi’s virtual wearable system combines Web 3.0 with Artificial Only (AI) technology to effectively safeguard system security and user privacy through data decentralization, distributed ledger, smart contracts, etc. It focuses on creating a more decentralized and secured Internet and solving some of the problems associated with online shopping, such as fraud and privacy issues. It also improves the trial experience of users through semantic Web, AI, ML (machine learning), etc.
Data Decentralization: The Web 3.0 virtual wearable system supports a decentralized architecture, which means that data and applications are not controlled by a single centralized organization. This provides greater security for online shopping and reduces the risk of data leakage.
Distributed Ledgers: Distributed ledgers can be used to provide a more secure and transparent payment system for online purchases. This could provide better protection against fraud and denial of payments and reduce payment processing times.
Smart Contracts: WiMi’s Web 3.0-based virtual wearable system allows for the use of Smart Contracts in online shopping, which are self-executing contracts where the terms of the agreement between the buyer and seller are written directly into the lines of code, and where Smart Contracts can automate many of the tasks normally done manually in online shopping, such as payment processing and order tracking.
Semantic Web: creating the Semantic Web, which means that data is structured in a way that can be easily understood by both humans and machines. This can provide customers with a more personalized shopping experience and improve the accuracy and relevance of search results, such as the current ChatGPT can be understood as both a prototype of the Semantic Web, allowing for better interaction and understanding between the web and people.
Artificial Intelligence and Machine Learning: using AI, and ML to provide a more personalized shopping experience and improve the accuracy and relevance of search results, combining the user’s needs to give the most appropriate match.AI, ML technology can also be used to detect fraud and predict consumer behavior.
WiMi’s Web 3.0-based virtual wearable system can bring more convenience to both customers and retailers. Users get a better fitting experience through the system to make the best purchasing decisions, while retailers can save on physical inventory and storage space costs, as well as reduce returns. In addition, the system can provide customers with a more personalized shopping experience, thus increasing customer satisfaction and loyalty. And with a decentralized distributed ledger setup, the system gives users greater control over their data and personal information, allowing them to purchase products more securely and privately without fear of data leakage or misuse. Provides more transparency and accountability in online transactions. Reduces incidents of fraud and builds more trust between buyers and sellers, promoting a safer and more secure online shopping experience.
About WIMI Hologram Cloud
WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.
Safe Harbor Statements
This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.
Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.
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SOURCE WiMi Hologram Cloud Inc.