The platform aims to consolidate the resources of academic institutions and enterprises in China, and bolster research efforts in areas related to the metaverse.
On May 22, Nanjing, the capital city of China’s eastern Jiangsu province, inaugurated the China Metaverse Technology and Application Innovation Platform to foster and advance metaverse research and development across the country.
The newly established state-backed entity is led by the Nanjing University of Information Science and Technology (NUIST). As per an announcement on NUIST’s official social media account, the platform consists of founding members representing diverse academic institutions and metaverse-related companies throughout mainland China.
Stay in the know on crypto by frequently visiting Crypto News Today
The platform aims to bring together the resources of academic institutions and enterprises in China, strengthening research endeavors in metaverse-related fields. The metaverse refers to a virtual universe or collective virtual space encompassing all virtual worlds, augmented reality and virtual reality experiences. It is an interconnected digital realm where users can interact with each other and with computer-generated environments in real time.
Nanjing and other Chinese cities are competing to take a prominent position in the country’s metaverse development. In February 2023, the city revealed its metaverse strategy, aiming to create a thriving industry with annual revenues surpassing 135 billion yuan ($19.13 billion) by the close of 2025.
The city of Shanghai is actively pursuing its metaverse aspirations, predicting its metaverse industry will reach annual revenue of 350 billion yuan ($49.6 billion) by 2025. Shanghai recently presented its initial collection of 20 metaverse use cases, covering diverse areas such as virtual healthcare diagnoses and digital recreations of the city’s historic architectural landmarks.
Although China maintains strict regulations on cryptocurrencies and nonfungible tokensNFTs, it acknowledges the transformative power of Web3 technologies, including the metaverse, in driving its digital economy.
In a recent report from local media, Wu Zhong-ze, the former Deputy Minister of the Ministry 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 emphasized the necessity of establishing industry standards for the metaverse.
Read More at COINTELEGRAPH
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
