Metaverse Industry Provides $780 Million in Support to China!

It was reported that the Chinese Metaverse industry has raised about $780 million in funding. There are expectations that it will be a $5.8 trillion industry by 2030. So far, there are 160,000 virtual human enterprises in China. It is also reported that 20 cities in the country support this industry.

According to local media reports, China's Metaverse industry has secured $780 million in funding. In addition to the 160,000-person 'Chinese virtual human enterprise', there are about 20 cities that already support the Metaverse, according to the report. There are also expectations that China's Metaverse market size will reach $5.8 trillion by 2030, according to a report on a Chinese news website. The report cited the initiatives of two Chinese companies, internet giant Tencent and one of the country's leading companies. One of them, video game companies Netease Yaotai, is working to find ways to develop the Metaverse. The other is Tencent. Tencent is working on the integration of artificial intelligence (AI) with the real economy. Netease Yaotai, meanwhile, is focused on using cloud gaming and AI to create a system that enhances interactions in the virtual world. Commenting on Tencent's initiatives so far, Wu Yunsheng, the company's Vice President of Cloud, said. 'We will not make a clear distinction between 2D and 2C for the application of the technology. The company's Metaverse technology has application scenarios in the 2D space. There are also many initiatives in the C-side QQ Metaverse. Therefore, we will not strongly indicate whether it is 2B or 2C. We are just exploring what real value or convenience our technology can bring to people's lives and production. Liu Bai, spokesperson for Netease Yaotai, also made a statement. He explained that his company has different types of event scenarios. He also claimed that there are about 100 types of personalized clothing to be used for in-depth simulations. Bai also stated that there are some key departments in Metaverse companies. He explained that the most important positions in Metaverse companies are R&D, product planning and art. 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!