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.
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.
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