Shanghai is on a mission to cultivate a robust $6.9 billion metaverse sector by 2025.

By 2025, Shanghai, the financial heart of China, is determined to pull in 50 billion yuan annually from metaverse endeavors that aim to enhance cultural and tourism offerings. This initiative aligns with the city’s goal of emerging as a global leader in digital innovation, showcasing its rich cultural heritage to both local and international tourists. expects Shanghai is looking to foster a multifaceted metaverse environment, combining cutting-edge technology with its cultural assets. The city's strategy includes using augmented reality to deliver engaging experiences at its notable attractions, allowing visitors to explore historic sites with avatar guides and enjoy a variety of metaverse services.

As a leading metropolis, Shanghai is committed to weaving AI into various industries, enhancing the presence of digital artworks on blockchain platforms, and integrating these into entertainment avenues like video games while facilitating a thriving digital art economy. Furthermore, the city is keen on nurturing metaverse entertainment enterprises that feature virtual influencers.

In early 2023, Shanghai rolled out 20 innovative use cases for the metaverse, showcasing concepts ranging from virtual diagnostics in hospitals to business transactions and digital replicas of renowned architectural wonders.

Other Chinese Cities Embrace the Metaverse Wave

Shanghai isn't alone in its endeavors with the metaverse; cities across China, including Nanjing, Zhengzhou, Wuhan, and Hangzhou, are also introducing their own metaverse initiatives.

That’s part of a broader ambition to cultivate metaverse industries worth over $28 billion by 2025, aiming for numerous objectives such as developing a rich ecosystem and supply chain, fostering innovation, and applying metaverse solutions across sectors like entertainment, e-commerce, product design, surgical practices, and public services. The Zhejiang province aims to equip ten industry leaders and fifty companies with expertise in AR, VR, XR, AI, and blockchain technologies.

Zhejiang  aims One aspect influencing this development is the 'China Blockchain Technology and Application Innovation Platform,' a government-backed initiative that promotes extensive R&D in the metaverse, encouraging partnerships between academic and business circles. This positions the city as a potential leader in the metaverse realm, setting an ambitious revenue target of 135 billion yuan (around $19 billion) by 2025.

Nanjing initiated During the strict lockdowns prompted by Covid-19, residents of Shanghai turned their attention to NFTs as a form of digital expression.

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