Shanghai aims to grow a $ 52 billion Metaverse cluster by 2025 – Metaverse Bitcoin News

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

Shanghai establishes Metaverse development plan

Metaverset is emerging as a technology that attracts interest from major countries and cities around the world. Shanghai, China’s largest city by population, has issued a document outlining a plan to make itself an important center for metaverse industrial activity. One of the main goals of this focus is to grow a $ 52 billion metaverse cluster in the city.

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

Investment in Metaverset

Although the issued document does not directly specify how much the city plans to invest to achieve the desired goal, it mentions that the government must establish a series of special funds to support metaverse industries, and offer investment subsidies, interest rate rebates and other incentives in accordance with laws and regulations to support technological research and development.

The document also mentions a number of technologies, including display and processor technology, as some of the core technologies that should be further developed to achieve better metavers in the future. Similarly, data transfer technologies such as 5G and artificial intelligence are also mentioned in the plan.

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

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

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, and entered the cryptosphere when the price increase occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, and offers a different view of crypto success and how it helps the unbanked and underprivileged.

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