Shanghai Aims to Grow a $52 Billion Metaverse Cluster by 2025 – Metaverse Bitcoin News

Bitcoin.com

The Government of the city of Shanghai has proposed a group of guidelines to help it shift into a metaverse power. The plan of action defines each one of the technologies that the municipality needs to focus on to achieve the goals of building a $52 billion metaverse economy, while at the same time helping to establish 10 innovative companies in the area.

Shanghai Establishes Metaverse Development Plan

The metaverse is emerging as a technology that is attracting the interest of major countries and cities in the world. Shanghai, the largest city in China by population, has issued a document where it presents a plan to turn itself into an important center for metaverse industry activities. One of the main goals of this focus is to grow a $52 billion metaverse cluster in the city.

How To Get Free Crypto  

To this end, the city plans to house at least 10 innovative leading enterprises in the metaverse industry, and 100 companies that present metaverse-related technologies, all of these with international reach. The document proposes a series of tasks to achieve this goal, which includes adding a digital component to different activities and sectors, such as the existence of virtual businesses, education with virtual reality, and tourism and entertainment with a virtual element.

Investing In the Metaverse

While the document issued does not specify directly how much the city plans to invest to reach the desired goal, it does mention that the government would have to establish a series of special funds to support metaverse industries, offering investment subsidies, interest discounts, and other incentives in accordance with laws and regulations to support technology research and development.

The document also mentions a series of technologies, including display and processor tech, as some of the core technologies that should be advanced to achieve a better metaverse in the future. In the same way, data transmission technologies like 5G and artificial intelligence are also mentioned in the plan.

Other countries have been interested in the concept of the metaverse as well, including South Korea, which presented a plan to invest $177 million into metaverse-related projects as part of the “Digital New Deal,” a national plan to modernize the country. Dubai is also moving to make its government metaverse ready, to give the opportunity to its citizens of having the experience of a virtual reality government.

Coinbase Banner  
Tags in this story

What do you think about Shanghai and its metaverse goals? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Go to Source
Author: Sergio Goschenko


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.