NFTs, metaverse, blockchain, Web3 in Shanghai five-year plan

Bydiana

Jul 13, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The Shanghai authorities has provided metaverse amusement, non-fungible tokens (NFTs) and Web3 systems into its five-yr electronic financial state system, according to a policy paper printed on Tuesday.

See similar post: ‘Metaverse’ enters governing administration radar at China’s Two Classes

Quick facts

  • Shanghai will improve improvement of immersive technologies this sort of as mind-pc interface and prolonged actuality (XR), which can boost metaverse leisure this kind of as virtual concert events, idols and sports.
  • Shanghai intends to guidance enterprises to explore NFT marketplaces, as perfectly as all those that study and pilot asset digitization, investing of electronic intellectual property (IP) and digital possession. 
  • Shanghai will persuade cross-field apps of blockchain technology this kind of as details buying and selling and gaming.
  • Shanghai also mentioned it will accelerate the start of new technology systems, these kinds of as cross-platform electronic id, distributed info storage and decentralized Area Title System (DNS). 
  • Shanghai aims to develop its metaverse-similar industries to US$52 billion by 2025, following June’s 10 billion yuan (US$1.5 billion) fund pledge. 
  • Neighborhood governments across the nation have proposed a whole of 45 plan files to assistance metaverse-linked industries, in accordance to local media 01 Caijing.

See linked article: Xiamen reveals approach to bolster its metaverse, NFT-linked corporations

By diana