China has launched a state platform for metauniverse

China has launched a state platform for metauniverse

The capital of China’s Jiangsu province, Nanjing, has launched a new government-backed metauniverse platform. In particular, the technology and application platform China Metaverse is designed to promote the development of the sector throughout the country. This is reported by Watcher.Guru.

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The new program is headed by the Nanjing University of Information and Science Technologies (NUIST). The founders of the platform represent various academic institutions and companies focused on the metaverse throughout the country.

In addition, it is planned to combine the resources of different scientific enterprises and established throughout China.

The purpose of the universe is a virtual space containing many virtual worlds. In addition, it often includes aspects of augmented and virtual reality for users. In addition, the digital space allows these users to interact with each other in a digital environment.

In recent years, China has tried to achieve significant success in the development of its meta universe. In particular, in February 2023, the city of Nanjing showed a large-scale strategy of the metauniverse, providing for the receipt of revenues in the amount of 130 billion yuan by the end of 2025.

Read more: Metaworld will increase Asia’s GDP by $1.4 trillion per hour — Deloitte report

Shanghai also strives to develop its industry for the purpose of the universe. In addition, the city strives for development in this sector for similar financial reasons. Although China maintains very strict regulatory standards for digital assets and NFTS, he also talked about the strength of Web3 and the potential of the digital technology industry.

Source: Ministry of Finance

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