China’s Shandong province aims for metaverse market worth $20.5 billion by 2025

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The eastern Chinese province said it plans to build several industrial parks to develop the metaverse sector.

Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.China’s Shandong province has released draft guidelines to boost the development of its metaverse industry, as the world’s second-largerst economy continues its blockchain drive.that it plans to grow metaverse-related initiatives in the province to reach a market size of 150 billion yuan by 2025.

Up until 2025, the Shandong provincial government said it aims to build several metaverse-related industrial parks and nurture at least 100 metaverse firms. Specifically, the local government said it would work to facilitate companies to apply for at least 3,000 international and domestic patents by 2025.

The draft guidelines showed that the local government defined metaverse as"a novel virtual and physical integrated digital space that combines various information technologies such as virtual reality, digital twinning, blockchain, internet of things, 5G and 6G, as well as artificial intelligence."China’s blockchain ambition

 

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