Economic Daily, an economic newspaper published by the Chinese government , published an article pointing out problems with investing in the metaverse. The article says that compared to the recent explosive trend of new green energy, investing in the metaverse may not be suitable for all parts of the country.
Economic Daily warns of euphoria in metaverse
Metaverse becomes hot topic after Covid-19 pandemic, but criticizes euphoria surrounding it Some people The Economic Daily, China’s state-run newspaper, dedicated an entire article warning Chinese citizens against investing too much money in the Metaverse.
Article published Nov. 10 states:
. Beware of following suit feverishly and placing big bets on it while disconnected from reality.
The article explains that the current Metaverse hype can be compared to the hype seen in the new green energy not so long ago. At that time, a lot of investment went into this sector, creating surplus energy where it was not needed.
China and its Virtual World Initiative
The Chinese government has sent mixed signals regarding the Metaverse and its development in mainland China. I was. Some publications, such as the People’s Daily, the official newspaper of the Communist Party, have been critical of the field, advising people to “keep rationality in understanding the current metaverse mania” at the local level. However, some cities are actively presenting their plans. Integrate this virtual world into your development process.
According to an Economic Daily article, 30 local governments in China have voted to support metaverse-related investments in cities. However, the country is trying to steer toward supporting these developments, but without including certain token-related elements.
Wuhan announced virtual environment development program, including NFT has removed non-fungible tokens in the new version of the document due to the Chinese state’s strict policies on digital assets and cryptocurrencies.
However, the Chinese government seems determined to develop her VR technology to provide an immersive experience for its citizens. The government announced on November 1st an ambitious plan calling for research into virtual reality (VR) and augmented reality (AR) elements, and among these other applications, a metaverse open to all citizens. We proceeded with the creation of the platform. technology.
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