| China's Nanjing City aims to lead metaverse research and development by introducing the state-backed "Blockchain Technology and Application Innovation Platform of China." The platform will bring together academic institutions and businesses to strengthen metaverse-related research. - Nanjing University of Information Science & Technology (NUIST) leads the state-backed initiative, which includes participation from various institutions and blockchain-related companies in China.
- Nanjing is competing with other Chinese cities like Shanghai to become a frontrunner in metaverse development, with a target of generating over 135B yuan ($19.13B) in annual revenues by 2025.
- China recognizes the transformative potential of Web3 technologies, including the metaverse, and aims to utilize it to strengthen real-world industries.
- The
establishment of the platform reflects China's dedication to metaverse
research and competition in the evolving digital landscape.
- In September 2022, NUIST launched the first metaverse university major in China, and in April 2023, it formed a dedicated department for wearable VR devices.
- Beijing, Guangzhou, Chongqing, Jinan, and the provinces of Zhejiang and Henan have all released metaverse development plans.
|
