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Home Metaverse

Xiamen reveals plan to bolster metaverse, NFT-related corporations

by Crypto News Bay
April 3, 2022
in Metaverse
Reading Time: 1 min read
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Xiamen has revealed its three-year motion plan to nurture its cluster of metaverse corporations concerned in non-fungible tokens (NFTs), VR/AR, chips and associated {hardware} with over 100 million yuan (US$15 million) in income, in response to the native authorities’s working plan.

See associated article: ‘Metaverse’ enters authorities radar at China’s Two Classes

Quick info

  • A significant metropolis of China’s southeastern province of Fujian joins Beijing, Shanghai, and Nanjing in asserting efforts to bolster native metaverse industries. 
  • The personal sector in China can also be ramping up metaverse developments with tech giants partaking in a emblems race to safe companies associated to the metaverse. 
  • Chinese language regulators have began limiting sure actions within the immersive world, most notably by banning cryptocurrencies, which act as a medium of change in blockchain-based metaverses, and vowing to crack down on unlawful fundraising schemes disguised as metaverse tasks. 

See associated article: South Korea needs to be the bodily house of the metaverse



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