On May 22, the capital of China’s eastern Jiangsu province, Nanjing, has officially launched the China Metaverse Technology and Application Innovation Platform to accelerate metaverse research and development in the Asian nation.

The government-backed initiative is led by the Nanjing University of Information Science and Technology (NUIST). The announcement on NUIST’s official social media account stated that the platform consists of founding members which represent distinct and diverse diverse academic institutions and metaverse-related corporations throughout mainland China.

The platform aims to bring together the resources of academic institutions and enterprises in China, with the main focus on bolstering research endeavors in metaverse-linked fields. A one-of-a-kind initiative, the city revealed that it aims to build a thriving industry which banks more than $19 billion in annual revenue towards the end of the year 2025.

Sources:

https://cointelegraph.com/news/chinese-city-launches-govt-backed-metaverse-platform

https://news.coincu.com/189504-china-government-metaverse-platform/

https://finance.yahoo.com/news/china-nanjing-city-launches-state-053808971.html

https://www.cryptotimes.io/china-nanjing-city-unveils-state-backed-metaverse-initiative/

https://mp.weixin.qq.com/s/9RERVM48GJuz8V13HhzaKQ