On 23rd August, the municipal government of Beijing declared to initiate a 2-year program for development and innovation in the Metaverse space from 2022 to 2024 in which the entirety of the districts would need to abide by the exclusive innovation plan targeting the world of Web3.
A 2-Year Plan for Advancement in the Metaverse Has Been Declared by Beijing
This development program denotes the Metaverse to be a unique generation of the integration and innovation of the information technology to enhance the advancement within the internet sphere toward Web3. The attention of the innovation program is devoted to the promotion of the advancement of the industries dealing with the Metaverse and assisting Beijing to construct a marvelous city related to the digital economy.
The program requires the construction of the technological infrastructure by the diverse districts at the city level along with the promotion of its utility in diverse sectors, taking into account, tourism, and education.
The development plan would witness the incorporation of GIS (Geographic Information System), 3D visualization as well as other such technical means’ integration to construct and establish a digital venue and adequately improve the arrangement of the digital infrastructure.
The development plan for the Metaverse has additionally instructed the districts as well as the municipalities to provide human as well as financial support for the establishment of virtual reality. The municipal government of Beijing also called for the sandbox projects to move forward and support their development.
Web3 and the Metaverse to Be Broadly Adopted in China
Though China is famous for the anti-crypto standpoint thereof, its authorities have expressed their interest in the idea of the Metaverse since the start of the previous year. Nonetheless, the interest of the country’s government in the nascent technology has not provided any profitable regulations in the case of tech firms that are delving into the same concept.
As per the reports of July, the prominent publisher of video games “Tencent” had been compelled to terminate one of its two non-fungible token venues due to the dropping sales owing to the Chinese government’s reverting monetary policies. Correspondingly, Alibaba had also been compelled to conceal the entirety of the signs of its marketplace of NFTs just following its inauguration.
During the recent two months, a couple of well-known Chinese cities have declared action plans centered around the NFTs as well as the Metaverse. This mounting interest of the government in the prominent Web3 equipment could pave the way toward a broader adoption across the country.