Nanjing, the capital of China’s Jiangsu Province, opened the China Application and Technology Innovation Platform on May 22. This government-backed platform aims to promote research and development across the country.
The newly created state-supported entity is led by Nanjing University of Information Science and Technology (NUIST). according advertisement On NUIST’s official social media account, the platform is made up of founding members representing various academic institutions and blockchain-related companies across mainland China.
The aim of this platform is to bring together the resources of academic and corporate institutions in China, and to promote research endeavors in areas related to metaverses. Metaverse refers to a virtual world or collective virtual space that includes all virtual worlds, augmented reality, and virtual reality experiences. It is an interconnected digital world where users can interact with each other and with computer-generated environments in real time.
Nanjing, along with other Chinese cities, is vying for a prominent position in the country’s opposite development. In February 2023, the city open Its metaverse strategy, which aims to create a thriving industry with annual revenues exceeding $19.13 billion (135 billion yuan) by the end of 2025.
In the southern area of Nanjing, the city of Shanghai is actively pursuing its sprawling aspirations. City perceptions Its metaverse industry will reach annual revenue of $49.6 billion (350 billion yuan) by 2025. Shanghai recently foot Its initial set of 20 metaverse use cases, covering areas as diverse as virtual healthcare diagnostics and digital recreations of the city’s historic architectural landmarks.
Related:China’s state-owned Greenland to apply for a virtual asset trading license in Hong Kong
Although China maintains strict regulations on cryptocurrencies and NFTs, the country recognizes the transformative power of Web3 technologies, including the metaverse, in driving its digital economy.
at recent days a report From local media, Wu Zhong-ze, former vice minister of science and technology, highlighted the importance of expanding the use of the metaverse in various sectors, including education, commerce, healthcare, and entertainment. He also stressed the need to set industrial standards for metaverses.
magazine: Does the Metaverse really transform like “Snow Crash”?
