With the platform, academic institutions and businesses in China hope to pool their resources and advance metaverse-related research.
The China Metaverse Technology and Application Innovation Platform has been revealed in Nanjing, the provincial capital of Jiangsu, China. This government-sponsored effort, led by Nanjing University of Information Science and Technology (NUIST), intends to foster metaverse study and development throughout the nation.
The platform brings together mainland Chinese academic institutions and businesses involved in the metaverse.
Collaborative Efforts in Metaverse Research
The newly created platform intends to promote cooperation between Chinese academic institutions and businesses. The platform aims to support research activities in disciplines connected to the metaverse by combining resources and expertise.
The metaverse unites augmented reality, virtual reality, and virtual worlds to create a digital space where users can communicate with one another and digital settings in real time.
Nanjing and other Chinese cities are trying to dominate the metaverse growth in their nation. Nanjing published its metaverse plan in February 2023 with the goal of creating a thriving sector with annual sales of more than 135 billion yuan ($19.13 billion) by 2025. By creating the innovation platform, Nanjing hopes to draw in talent and capital and establish itself as a leader in the metaverse industry.
Embracing Web3 Technologies
Despite its severe limitations on cryptocurrencies and nonfungible tokens (NFTs), China acknowledges the metaverse’s revolutionary potential in advancing its digital economy.
China recognizes the significance of embracing emerging technologies and using them for economic progress while preserving control over digital assets.
Metaverse’s Potential Impact
The metaverse has a lot of potential as a virtual setting for lifelike interactions and experiences. Its growth could have an effect on a number of industries, including gaming, entertainment, education, and business. China wants to use the possibilities of this technology-driven notion to define its digital future by encouraging metaverse research and development.
A national and local effort to advance metaverse development may be seen in the creation of the China Metaverse Technology and Application Innovation Platform. China is putting itself in a position to be a major player in the global metaverse environment thanks to Nanjing’s proactive approach to metaverse strategy and the support of state organizations like NUIST.