China proposes to bring its social credit system to the metaverse: Report

Proposals to a United Nations group reportedly show China wants digital IDs and real-world punishments for actions that occur in the Metaverse.

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China to Expand Metaverse Use in Key Sectors

China recognizes the transformative power of the metaverse and calls for industry standards in a report by former Deputy Minister of Science and Technology. The post China to Expand Metaverse Use in Key Sectors appeared first on NFT News Today.

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Nanjing unveils metaverse platform for local web3 development

Nanjing City in China has introduced the China Blockchain Technology and Application Innovation Platform with the aim of establishing the China Metaverse technology and application innovation platform.

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China’s Metaverse Industry Flourishes as Beijing Recognizes Its Potential

In China, projections hold that the metaverse industry will grow by almost 40% this year. The regime has come to recognize the metaverse as a "key industry." The post China’s Metaverse Industry Flourishes as Beijing Recognizes Its Potential appeared first on BeInCrypto.

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Tencent Adopts New Metaverse Strategy

One of China’s biggest companies is scaling down its metaverse unit as part of its new direction.   Tencent is partially disbanding its Extended Reality (XR) metaverse unit, according to reports.   The XR unit was formed in June 2022, and has over 300 staff.

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China’s Automobile and Healthcare Amongst Sectors To Benefit From Metaverse Developments – Report

A Deloitte report, “The Metaverse in Asia- Strategies for Accelerating Economic Impact”, estimates that the impact of the metaverse on GDP in Asia could be between US$0. 8-1. 4 trillion per year, roughly 1.

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Asia Express: China’s NFT market, Moutai metaverse popular but buggy…

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The Race to Build a Metaverse in China

While many companies in the West are rushing to create a public Metaverse, their Chinese counterparts focus on its industrial application. The post The Race to Build a Metaverse in China appeared first on NFT News Today.

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Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China

The Chinese government has shown a keen interest in developing a metaverse economy, but its stance on NFTs hasn’t been very clear.

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China’s Provinces and Cities Spending Millions for Metaverse Development

Since the inception of the metaverse, several provincial governments in China have spent millions on metaverse developments. Besides, over six local governments in China’s famous cities like Shanghai and Beijing have issued metaverse-related development plans in 2022. Local Authorities Pushing…

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Chinese University Launches One of the First Metaverse Majors in Country

Nanjing University in China has reportedly launched one of the country’s first majors focusing on metaverse-related knowledge. The university, which is located in eastern China, indicated that this new drive is intended to impart new metaverse-related courses that will enable…

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Can a European Metaverse Compete With US and China?

The European Commission just published a letter of intent in which they'll move forward on an "initiative on virtual worlds such as Metaverse" next year. The post Can a European Metaverse Compete With US and China? appeared first on NFT News Today.

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A Province in China Begins Metaverse Journey with 2025 Action Plan

Despite banning the use of cryptocurrency, China is gradually making inroads into the virtual ecosystem as it eyes the Metaverse.

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JPMorgan: China’s Metaverse-Related Economy Could Reach $4T

The metaverse could triple China’s online-gaming market alone to $131 billion, the bank said.

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Tracing the next steps in Shanghai's plans for the Metaverse

Shanghai wants to lead China's economic recovery by promoting the growth of metaverse goods and services, low-carbon energy initiatives, and smart terminal technology. The Shanghai government plansThe post Tracing the next steps in Shanghai's plans for the Metaverse appeared first on AMBCrypto.

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First Mover Asia: The Metaverse Is Subject to Earth’s Boring Old Rules

GameFi adoption has been hitting obstacles worldwide, including China and Korea, because of laws about converting in-game tokens to currency; major cryptos drop.

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Chinese government increases focus on “metaverse,” eyes regulations

During China’s annual “Two Sessions,” the authorities discussed “metaverse” at a national level for the first time, with delegates calling for regulation to ensure data security and the eradication of speculation within the industry.

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Chinese metaverse to look different than the rest of the world's

Chinese search provider Baidu had announced a self-developed metaverse last year in December. The year when China took a policy decision to curb all private crypto activities from the country by taggiThe post Chinese metaverse to look different than the rest of the world's appeared first on AMBCrypto.

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China’s central bank proposes to monitor metaverse and NFTs

The metaverse and NFTs are in the crosshairs of the People’s Bank of China, which wants to track them with Anti-Money Laundering tools.

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Metaverse 2021 · Origin Announced! An In-depth Experience of “Future World”

On December 11-12, 2021, “Metaverse Conference 2021 · Origin and Blockchain Innovation Forum” will be held in Xiangcheng District, Suzhou, China. The conference is supported by Suzhou Xiangcheng District Industry and Information Technology Bureau and other departments.

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Despite crackdown, blockchain, metaverse going strong in China

While the Cambridge Bitcoin Electricity Index indicated that China held 0% of the average monthly hashrate share in August 2021, this may not be strictly accurate. According to an investigation by The post Despite crackdown, blockchain, metaverse going strong in China appeared first on AMBCrypto.

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South China Morning Post to tokenize 118-year-old archive with NFTs

Hong Kong landmarks like the Kowloon Walled City will be tokenized and showcased in The Sandbox Ethereum-based metaverse.

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What Is ETP? Introduction to Metaverse

Neo isn’t the only Ethereum-killing blockchain coming out of China. Metaverse is a public and open-source blockchain competing with both, by providing digital assets, identities, and oracles in a smart contract network.

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China’s Top Public Blockchain Projects Race for Best Digital Identity Solution

While centralized frameworks lack transparency often misusing individuals’ information, blockchain projects like Metaverse create the new future for online identities bringing yet another win for the blockchain tech.

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