China Spent Millions Nationwide for the Metaverse!

Since the inception of the Metaverse, several provinces in China have spent millions on Metaverse developments. In addition, more than six local governments in famous Chinese cities such as Shanghai and Beijing have published development plans for the Metaverse in 2022. According to the latest information, China has accelerated Metaverse developments.

Since the Metaverse trend started, several countries and companies have invested millions of dollars. However, China is trying to lead other countries in terms of Metaverse development. Local authorities in the country have launched several initiatives to attract Metaverse-related talent and companies. China is pushing the envelope on the Metaverse to turn it into a trillion-dollar industry, as some analysts predict. Public records show that more than six local governments and authorities in Chinese cities such as Chongqing, Shanghai and Beijing have implemented Metaverse plans. Other cities are supporting initiatives to develop the Metaverse. For example, Wuhan, Hangzhou, Shandong and Guangzhou plan to offer incentives worth between 2 and 200 million yuan ($282,000 to $28 million) for Metaverse-focused projects and research. In addition, these regions are providing housing benefits that will attract Metaverse assets and talent to their regions. The Metaverse is interpreted as a fully interactive universe of augmented and virtual reality. Some see the Metaverse as the next technological revolution. But despite the excitement, widespread uses of the virtual world are not yet accessible. Nevertheless, some Chinese businesses, from virtual idols to real estate, are participating in the Metaverse. According to a report by Zhilian Zhaopin, an online recruitment platform, job opportunities are on the rise in areas such as augmented reality, virtual reality and Metaverse-based social platforms. There was also a 16 percent increase in such job postings in 2022 compared to 2021. According to the survey, megacities top the list of those most in need of Metaverse expertise. Shenzhen, Beijing and Shanghai are reported to be in the first place. Wuhan and Hangzhou experienced a 39.3 percent and 65.9 percent increase in job postings, respectively. Source: nfxhaber.com Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!