The Metaverse narrative continues to boil over, and the latest mention comes from a point of higher authority. China’s largest city seems to be getting serious about this.
- According to a report by CNBC, Shanghai is keen to harness the potential of what many consider to be the next generation of the Internet.
- According to media reports from China, local authorities have released development plans for the next five years, and one of them mentions the metaverse.
- According to a purported translation of an excerpt of the plan’s text, it calls for “encouraging the application of the Metaverse in areas such as public services, business offices, social entertainment, industrial manufacturing, production security and electronic games.”
- In addition, the Chinese commission has also said that it plans to increase development and research of the technologies that underpin the narrative, such as real-time interactions, blockchain and sensors.
- However, there is no specific time frame for any of the above except to be included in the 5-year development plan.
- The Metaverse became a very hot topic when Facebook decided to rebrand its company name, Meta, when it comes to building it.
PrimeXBT Special Offer: Use this link and enter code POTATO50 to get 25% off on trading fees.