China’s coastal Zhejiang province A metaverse development plan that seeks to build a metaverse hub within. The plan aims to facilitate the creation of a $28.7 billion metaverse industry by 2025 and create an ecosystem of multiple companies that integrate this technology as part of their business.
Zhejiang Announces Metaverse Development Plans
China’s Zhenjiang Province announced plans to develop the Metaverse on December 15, launching the nation’s largest We aim to be one of the metaverse hubs. The plan, which looks to integrate several active companies into the metaverse, aims to create a $28.7 billion metaverse industry by 2025. One of them included the incubation of 10 industry leaders and 50 companies involved in several key technologies related to the metaverse such as AI (artificial intelligence), VR (virtual reality) and even blockchain. will be
These technologies will be applied to several processes to integrate companies specializing in product manufacturing, industrial design, healthcare, and even government into this metaverse push.
This document reflects plans already planned and presented by other local governments in China who are also interested in the Metaverse as a development element. In June, Shanghai unveiled its own roadmap to becoming his $52 million metaverse cluster.
China’s Bet on the Metaverse
China is becoming a hotbed for Metaverse projects as several Chinese companies show interest in developing related technologies. On Sept. 5, local sources reported that China’s Metaverse industry had raised $780 million, a sum he expects to reach $5.8 trillion by 2030. did.
Even the Chinese government has an interest in this development. Metaverse related technology. In November, the Chinese government announced a research plan for virtual reality (VR), advancing technology to build more immersive experiences. The same plan looks at building a virtual social world that allows users to interact and communicate online.
Chinese software giant Tencent has already jumped on the Metaverse van, creating its own division dedicated to the space, employing more than 300 of his employees across a range of tasks and projects. Aiming to be
However, the government has criticized the euphoria that is brewing around Metaverse-related investments.The state-run newspaper Economic Daily published an article warning about this on his November 10th, stating: says so. Beware of fanaticism and betting big on it while detached from reality.
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