The Shanghai government has announced a plan to support the metaverse industry and the digital economy. It is designed for 3 years and involves investments of more than 1 trillion yuan (about $1.5 billion). This is the largest investment in the metaverse sphere among states and companies.
The authorities pay special attention to such points:
- Support for cloud rendering, artificial intelligence and blockchain technologies.
- Piloting the digital asset trading section of the Shanghai Stock Exchange.
- New cultural tourism that combines virtual and real interaction. Shanghai is developing a new project called Yuanlv Shanghai – augmented reality walks around the city.
- Development of original blockchain games with international competitiveness.
- Transitioning from conventional social networks to meta-networks that collect all experiences in the digital and real world.
- Building a digital twin factory. This helps accelerate production processes.
As you can see, Shanghai has very ambitious goals and plans. And there is clearly a desire to surpass Hong Kong. Recall that this city has become a testing ground for three metaverses at once, including the Zuckerberg metaverse.
