The Chinese online video platform, iQiyi, has unveiled its all-in-one virtual reality headset called the Adventure Dream as it begins to set foot in the emerging VR and metaverse markets.

The company has established partnerships with over a hundred renowned game developers to expand its library at an astonishing pace of three to five new titles each month. Understandably, the platform will also incorporate the company’s existing arsenal of latest films and TV shows.

Xiong Wen, CEO of iQiyi Intelligence, also revealed that they plan to rebrand the company to ‘Dream Bloom,’ aiming to make its presence felt in the metaverse space. He said the metaverse would be the next-generation internet, and VR will become the gateway into the metaverse at a press conference in Beijing.

“Today’s VR is at its early stage of development, and it is set to see rising growth opportunities in the future,” Xiong added.

The new VR device is priced at 1,999 yuan ($314) and features the Qualcomm XR2, the top-performing mobile VR chipset. It packs an 8 GM RAM to unlock the high-performance within games and other VR entertainment applications.

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