Xiamen reveals plan to bolster metaverse, NFT-related firms

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Xia­men has revealed its three-year action plan to nur­ture its clus­ter of meta­verse firms involved in non-fun­gi­ble tokens (NFTs), VR/AR, chips and relat­ed hard­ware with over 100 mil­lion yuan (US$15 mil­lion) in rev­enue, accord­ing to the local government’s work­ing plan.

See relat­ed arti­cle: ‘Meta­verse’ enters gov­ern­ment radar at China’s Two Sessions

Fast facts

  • The cap­i­tal city of China’s south­east­ern province of Fujian joins Bei­jing, Shang­hai, and Nan­jing in announc­ing efforts to bol­ster local meta­verse industries. 
  • The pri­vate sec­tor in Chi­na is also ramp­ing up meta­verse devel­op­ments with tech giants par­tak­ing in a trade­marks race to secure busi­ness­es relat­ed to the metaverse. 

See relat­ed arti­cle: South Korea wants to be the phys­i­cal home of the metaverse

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