Chinese city Nanjing Announces Government Backed Metaverse Initiative

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The Chinese city of Nanjing embraces the Metaverse and unveils new Metaverse research initiative to propel China’s virtual future.

Nanjing is the vibrant capital city of China’s eastern Jiangsu province. This week it has taken a step towards shaping the future of metaverse research in China. The city has inaugurated the China Metaverse Technology and Application Innovation Platform, a state-backed entity with a clear mission: to spearhead metaverse research and development across the country.

This ambitious initiative is led by Nanjing University of Information Science and Technology (NUIST), known for its national contributions to technology and innovation. As the platform takes shape, NUIST, in an announcement on its official social media channel, revealed the founding members, comprising leading academic institutions and metaverse-related companies from all corners of mainland China.

The platform aims to foster collaboration among these influential players, harnessing the combined resources of academia and industry to propel research efforts in metaverse-related fields. Back in February 2023, Nanjing unveiled an ambitious metaverse strategy, outlining its vision to cultivate a thriving industry that would generate annual revenues surpassing a staggering 135 billion yuan ($19.13 billion) by the end of 2025.

Unlocking the Potential of the Metaverse

In recent months, exploration of the metaverse has remained an interesting area for organisations and brands looking to use immersive environments. From groundbreaking ventures in digital fashion to transformative mental health events, the metaverse has emerged as a captivating new realm of global entertainment.

It presents an unprecedented opportunity to redefine traditional concepts, allowing individuals to become tourists in the most creative virtual environments. While the metaverse’s ultimate victors are yet to be determined, numerous platforms are paving the way for this revolutionary immersive environment.

Among the pioneers, several Web3 metaverse platforms have already made significant strides, introducing innovative real estate concepts and captivating value propositions. Upland provides a fun environment where users can learn about virtual businesses and pair it with real world economics. It continues to welcome an array of renowned brands and entrepreneurial minds into its virtual embrace.

The Sandbox, inspired by the popularity of online gaming, introduces pixelated realms teeming with quests for its users. Meanwhile, Decentraland has transformed into a thriving space for events and exhibitions, enticing brands to experiment with their digital marketing activations.

These platforms, for the most part, remain staunch advocates of Web3 principles, cherishing community and transparency as the bedrock of their metaverse experiences. As countries like China and others embark on their own metaverse explorations, an intriguing dichotomy emerges: the coexistence of open, decentralized metaverses alongside private, controlled virtual environments. The evolving landscape promises to be a fascinating spectacle, as these contrasting approaches vie for supremacy in the metaverse realm.

As metaverse research gains momentum, all eyes will be on Nanjing in China and its pioneering efforts to redefine the boundaries of reality.

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