Nanjing Launches China Metaverse Platform For National Development
Nanjing, the capital city of China’s eastern Jiangsu province, took a significant stride in advancing the metaverse by launching the China Metaverse Technology and Application Innovation Platform. This state-backed initiative, led by the Nanjing University of Information Science and Technology (NUIST), aims to drive metaverse research and development across the country.
NEWS: Nanjing, the capital city of China's eastern Jiangsu province, has launched a metaverse platform to enhance research in related fields.
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Metaverse Innovation
According to an announcement on NUIST’s official social media account, the platform comprises founding members representing diverse academic institutions and metaverse-related companies throughout mainland China. By leveraging the resources of these entities, the platform seeks to strengthen research efforts in various metaverse-related fields.
The metaverse refers to a virtual universe or collective virtual space that encompasses augmented reality, virtual reality, and other digital experiences. It is a digitally interconnected realm where users can interact with each other and computer-generated environments in real time.
Nanjing, along with other Chinese cities, is actively vying for a prominent position in the country’s metaverse development. In February 2023, Nanjing unveiled its metaverse strategy, with the goal of cultivating a thriving industry that generates annual revenues surpassing 135 billion yuan ($19.13 billion) by 2025.
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Shanghai’s Metaverse Boom
Shanghai, another major Chinese city, is also making significant strides in its metaverse aspirations. The city predicts that its metaverse industry will reach annual revenues of 350 billion yuan ($49.6 billion) by 2025. Recently, Shanghai showcased its initial collection of 20 metaverse use cases, spanning diverse sectors such as virtual healthcare diagnoses and digital recreations of the city’s historic architectural landmarks.
While China maintains stringent regulations on cryptocurrencies and non-fungible tokens (NFTs), it recognizes the transformative potential of Web3 technologies, including the metaverse, in driving its digital economy.
Wu Zhong-ze, the former Deputy Minister of the Ministry of Science and Technology, emphasized the importance of expanding metaverse applications across various sectors, including education, commerce, healthcare, and entertainment. He also highlighted the need to establish industry standards to ensure the metaverse’s sustainable growth.
