Beijing Unveils Two-Year Metaverse Development and Innovation Plan

On August 23rd, the Beijing Municipal Government announced that it will launch a two-year program for the development and innovation of the Metaverse space from 2022 to 2024. .

Two-year plan for Metaverse advancement declared by Beijing

This development program marks the Metaverse as a unique generation of information technology integration and innovation, enhancing progress within the Internet realm towards Web3. The Innovation Program is dedicated to promoting the development of industries dealing with the Metaverse and helping Beijing build a great city related to the digital economy.

The program requires the building of technological infrastructure by diverse districts at the city level and the promotion of availability in diverse areas, considering tourism and education.

The development plan will show the integration of GIS (geographic information system), 3D visualization and other technological means to build and establish digital venues and improve the placement of digital infrastructure appropriately.

The Metaverse development plan directs districts and local governments to provide human and financial support for the establishment of virtual reality. The Beijing Municipal Government also asked for sandbox projects to move forward and help develop them.

Web3 and Metaverse Widely Adopted in China

China is notorious for its anti-crypto stance, but its officials have shown interest in the Metaverse idea since early last year. Nonetheless, the country’s governmental interest in emerging technologies has not provided beneficial regulation for technology companies delving into the same concepts.

Prominent video game publisher Tencent has been forced to close one of its two irreplaceable token venues after a drop in sales due to the Chinese government’s withdrawal of monetary policy, according to a report in July. did not. In response, Alibaba was also forced to hide all signs of his NFT market shortly after its launch.

During the last two months, several well-known cities in China have declared action plans centered around NFTs and the Metaverse. Growing government interest in his prominent Web3 equipment could pave the way for nationwide adoption.

https:///beijing-introduces-two-year-metaverse-development-innovation-plan/ Beijing Unveils Two-Year Metaverse Development and Innovation Plan

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