The China Metaverse Technology and Application Innovation Platform was launched in Nanjing, the capital city of China’s Jiangsu province, on May 22, 2023. This state-supported initiative, led by the Nanjing University of Information Science and Technology (NUIST), aims to facilitate and promote research and development in the metaverse across the country.
According to the announcement on NUIST’s official social media account, the platform comprises founding members from various academic institutions and companies in mainland China involved in the metaverse. The platform’s primary objective is to foster collaboration among these institutions and enterprises and bolster research efforts in metaverse-related domains.
Nanjing and several other cities in China are actively competing to take a leading role in the country’s metaverse development. In February 2023, Nanjing unveiled its ambitious metaverse strategy to foster a flourishing industry that generates annual revenues exceeding 135 billion yuan ($19.13 billion) by the end of 2025.
Similarly, Shanghai is fully committed to realizing its metaverse ambitions and predicts that its metaverse sector will generate annual revenues of 350 billion yuan ($49.6 billion) by 2025. To demonstrate its dedication to the goal, Shanghai recently unveiled a comprehensive range of 20 metaverse applications, encompassing various domains such as virtual healthcare diagnostics and lifelike digital replicas of the city’s renowned architectural marvels from the past.
In another development, DeFi Planet revealed on May 11, 2023, that China launched the National Blockchain Technology Innovation Center in Beijing to train over 500,000 individuals in distributed ledger technology (DLT).
Spearheaded by the Beijing Academy of Blockchain and Edge Computing, this Center will collaborate closely with local universities, think tanks, and blockchain enterprises to drive technological advancements in China’s blockchain industry. Notably, the Center has garnered support from 50 prominent corporations, with the majority being state-owned entities such as China Construction Bank and China Unicom.
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