Although Beijing and Shanghai are well-known technological hubs in China, Nanjing also plays a role in shaping China’s past and present. Recognized for its esteemed educational institutions and research centers, the city stands as a hub of intellectual and academic excellence.
In line with its reputation, Nanjing has recently introduced a metaverse platform to foster research and development. This move showcases its commitment to innovation.
Exploring the Metaverse: Nanjing University’s Commitment
According to a statement by Nanjing University of Information Science and Technology (NUIST), the platform comprises members from various academic institutions. The list also includes companies in mainland China who are involved in metaverse-related fields.
Back in September 2022, Nanjing University renamed the Department of Information Engineering to the Department of Metaverse Engineering. This was done to align the university’s vision with emerging technologies and trends. To solidify its commitment to the metaverse the university established a department for wearable virtual reality (VR) devices in April 2023.
In February 2023, the city revealed its metaverse strategy. This strategy is to establish a thriving metaverse industry that generates annual revenues surpassing 135 billion yuan by the conclusion of 2025.
The former Vice Minister of Science and Technology, Wu Zhong-ze, expressed his enthusiastic support for the launch of the innovative platform.
He stated that the metaverse is capable of revolutionizing several industries, like healthcare, education, finance, and entertainment. He further highlighted the role of Nanjing’s metaverse platform in spearheading guidelines for ensuring the safe exploration of the metaverse in China.
China and the metaverse seem to have a love-hate relationship. It’s no secret that the country has implemented strict regulations concerning cryptocurrencies and non-fungible tokens (NFTs) in recent years. However, despite the strict regulations, it announced an NFT marketplace and its digital currency added to WeChat.
Now, it is establishing a research center in Nanjing just like it did in Beijing. This continued investment in the blockchain space demonstrates China’s belief in the transformative potential of Web3 technologies. It also makes one wonder what they might be up to next.