By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.

Beijing Municipal Government Unveils 2-Year Metaverse Development Plan

Quick Take:

  • The Beijing Municipal Government has launched aa 2-year Metaverse Development Plan
  • The Plan will see a robust implementation of Metaverse related innovations including NFTs
  • The Municipal’s embrace of the metaverse complements the tech giant’s pioneering efforts in the space.

In what will come as one of the most forward-thinking embraces of digital innovation, the Beijing Municipal Government has unveiled its metaverse development plan. 

The plan, which is designed to be implemented within the next two years, is aimed at bringing every municipality within the region up to speed when it comes to advancement in blockchain and metaverse-related innovations.

As unveiled in the metaverse development plan, stakeholders are required to track the latest trends in the world of Non-Fungible Tokens (NFT) and the metaverse. 

Following the successful tracking, they will then be required to integrate it into various aspects of the economy including education and tourism.

The Beijing government considers the Metaverse a new offshoot of information technology integration and innovation that would drive the growth of the internet towards Web3. 

Despite the growing popularity of the Metaverse, the definition of what it stands for is still generally vague. In general, the metaverse is considered a virtual and immersive world where humans can interact using their own digital avatars

Beijing metaverse plan

Leading the Metaverse Charge

The concept of the metaverse is being advanced by a number of leading tech giants including but not limited to Meta Platforms Inc, Microsoft Corporation, and crypto-native Animoca Brands. 

Governments are beginning to wade into the ecosystem and the latest show of commitment from Beijing comes off as a very positive boost to the nascent industry.

The Beijing Development Plan demands that municipalities build an infrastructure that will be powered by 3D and Geographic Information System (GIS). The official document containing the plan reads,

“Promote digital education scenarios, support in-depth cooperation between Metaverse-related technology companies and educational institutions, expand intelligent and interactive online education models, and develop industry-wide digital teaching platforms."

The plan is yet another move by China to stun the world as it has maintained a zero tolerance for crypto-related initiatives. 

The regulatory uncertainties in the country following the bank on exchanges have also made major tech players like Tencent and Alibaba taper down their engagements in the NFT and metaverse worlds.

Tencent struggles to open NFT offer

The Metaverse Development Plan is robust and is bound to serve as a reference point for other regional governments in China to follow.

The information provided on DecentReviews does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Do not treat any of the websites content as such. DecentReviews does not recommend that any cryptocurrency or blockchain asset should be bought, sold, or held by you. Conduct your own due diligence and consult your financial advisor before making any investment decisions.

Get free Web3 analysis and news in your inbox

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Platforms/tools Mentioned:

There are no products mentioned.
This page may contain affiliate links. Learn more