China Sets Goal to Build Major Metaverse Industry Clusters by 2025

China aims to build 3-5 metaverse industry clusters and companies with global influence by 2025.
The plan focuses on applying metaverse tech to manufacturing, appliances, automotive, aerospace, etc.
Technologies like blockchain and advanced hardware are key for metaverse development.
Some local governments have their own plans to grow the metaverse industry.
Shanghai plans a 10 billion yuan fund for metaverse development.

scmp.com

Relevant topic timeline:

8/20/2023

Industrial Metaverse: Siemens invests billions

### Summary Siemens plans to invest billions in Europe and the U.S. to create an industrial metaverse hub in Germany, including a new technology campus in Erlangen. ### Facts - 💰 Siemens plans to invest about 500 million Euros in a new technology campus in Erlangen, Germany, as part of its global investment strategy. - 💼 The campus in Erlangen will be the center for technology activities related to the Industrial Metaverse. - 🌍 Siemens will invest a total of two billion euros in Europe, the United States, China, and Southeast Asia for the Industrial Metaverse. - 🔍 Many large corporations, including Microsoft, are working on the Industrial Metaverse for digital twins and collaboration. - 🔧 The campus in Erlangen will serve as a central location for research, development, and production of the Industrial Metaverse. - 🏢 The campus will cover an area of approximately 200,000 square meters and will be built sustainably with innovative energy infrastructure and green energy supply.

9/12/2023

Metaverse Thrives in Asia While Stagnating in US, Says Sandbox Co-Founder

The metaverse is thriving in Asia, with Hong Kong, Korea, and Japan being the top markets, according to Sebastien Borget, co-founder of The Sandbox; he also highlights the introduction of dynamic NFTs and Apple's Augmented Reality Vision Pro headset as major advancements for the industry.

9/25/2023

China and UK Explore Metaverse and AI Governance, Cryptocurrency Use Rises in Nigeria, Gates Funds AI Medical Tech

China plans to establish a working group to develop standards for the metaverse, while the UK's Competition and Markets Authority has issued principles to prevent AI models from being controlled by a small group of tech companies.

10/4/2023

Meta to Lay Off Employees in VR/AR Division, Impacting Metaverse Plans

Meta is reportedly laying off employees in its Reality Labs division's silicon unit, which could impact the company's plans to develop augmented and virtual reality products, including AR glasses and immersive virtual worlds known as the "metaverse."