China launches metaverse platform

According to CoinTelegraph , the platform was created to consolidate resources for academic and corporate institutions in China, while also promoting research efforts in metaverse-related fields.

The Chinese government-backed organization will be led by the Nanjing University of Information Science and Technology (NUIST). According to an announcement on NUIST’s official social media account, the foundation includes founding members representing academic institutions and metaverse-related companies across China.

Metaverse is a concept that refers to a universe that brings together many different virtual worlds, providing users with the experience of augmented reality and virtual reality. It is a place where users can interact with each other in a digital environment.

Nanjing-based metaverse platform to be backed by Chinese government

Nanjing and other cities are competing to lead the wave of metaverse development in China. In February 2023, Nanjing revealed its metaverse development strategy, aiming to create a thriving industry that could reach revenue of over 135 billion yuan by the end of 2025.

Shanghai is actively developing a metaverse plan, predicting that Shanghai's metaverse industry will reach an annual revenue of 350 billion yuan by 2025. Shanghai has come up with 20 different applications of the metaverse, including areas such as digital healthcare diagnosis and digital reproduction of the city's historical architectural landmarks.

China has always maintained strict regulations on cryptocurrencies and NFTs. However, China is still focusing on developing Web3 and the metaverse to promote the digital economy.

Wu Zhong-ze, former Vice Minister of Science and Technology of China, emphasized the importance of spreading the metaverse to many industries, including education, commerce, medicine, and entertainment. He also stressed the need to establish industrial standards for the metaverse.

Source link: https://thanhnien.vn/trung-quoc-ra-mat-nen-tang-metaverse-185230526091744758.htm