Metaverse Domestic Web3 Development Platform Revealed by Nanjing

Nanjing in China has introduced the Chinese Blockchain App and Technology Innovation Platform with the aim of creating the Chinese metaverse of the App and Technology Innovation Platform.

The foundation for metaverse research and development

Led by Nanjing University of Information Science and Technology (NUIST), a Chinese state-backed startup has announced the launch of a platform dedicated to metaverse research and development.

Composed of founding members from various academic institutions and blockchain-related companies in mainland China, the platform aims to promote the advancement of metaverse technology across the country.

Expressing optimism and enthusiasm, the district representative eagerly anticipates collaborating with various stakeholders to embrace the upcoming “blowout” from the metaverse and achieve important milestones, instilling confidence that the district is well prepared for this technology wave.

Former Vice Minister of Science and Technology, Wu Zhong-ze, also comments on this development stressing the importance of introducing metaverse applications in areas such as education, commerce, healthcare and entertainment, while also advocating the creation of industry standards.

Changing position of cryptocurrency

As a prominent city in mainland China, this development reinforces that Nanjing has joined the race to become a major player in the country’s multidimensional development by unveiling its metaverse strategy earlier this year, generating annual revenues of more than 135 billion yuan ($19.13 billion). dollars) through 2025.

This move by Nanjing follows in the footsteps of Shanghai, which recently introduced a variety of 20 metaverse use cases. These innovative applications cover various sectors, including virtual healthcare diagnostics and digital recreations of famous architectural landmarks in Shanghai.

The introduction of Metaverse strategies and initiatives by cities such as Nanjing and Shanghai highlights China’s recognition of the potential of this emerging technology, in stark contrast to the mainland’s restrictive approach to digital assets.

This anti-crypto stance has been in place for a long time, before encryption was banned in September 2021 and is believed to remain for the foreseeable future.

However, the combination of the metaverse platform announcement in Nanjing, and the China Central Television station broadcasting cryptographic information could be a turning point.