China’s Metaverse Industry Raises $780 Million in Funding – Metaverse Bitcoin News

China’s metaverse industry is expected to raise $780 million in funding and grow to a $5.8 trillion industry by 2030. It is said that there are currently 160,000 virtual human enterprises in China, and 20 provinces or cities of the country are providing support. vice versa

Developing the Metaverse

According to local media reports, China’s Metaverse Industry has raised $780 million (5.46 billion yuan) in funding. In addition to the 160,000 “Chinese virtual human enterprises,” about 20 provinces or cities already support MetaVas, the report added.

According to a Chinese-language news website, China’s metaverse market size is expected to grow to $5.8 trillion by 2030. Video games companies are working to find ways to develop Netease Yaotai – a competitor and metavas.

While Tencent is said to be focused on integrating artificial intelligence (AI) into the real economy, Netizen Yaotai is focused on using cloud gaming and AI to build systems that enhance interaction in the virtual world.

Key components in Metaverse companies

Commenting on Tencent’s efforts so far, the company’s vice president of cloud, Wu Yunsheng, said:

We do not clearly distinguish between 2B and 2C for the application of technology. The company’s metaverse technology has application scenarios in the 2B field (such as Bao Steel), and there are also many experiments in the C-side QQ metaverse. Therefore, we cannot strongly demonstrate whether it is 2B or 2C when we land, but only see the real benefit or convenience that our technology brings to people’s lives and production.

On the other hand, Liu Bai, the “responsible person” at Netizei Yaotai, said that his company has a variety of motion scenarios and about 100 personalized suits that can be used for deep simulations. Bai describes what he sees as key departments in Metaverse companies. He said, “The most important positions in Metaverse companies are R&D, product planning and art.

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Terence Zimwara

Terence Zimwara is an award-winning Zimbabwean journalist, writer and author. He has written extensively about the economic woes of some African countries and how digital currencies offer Africans an escape route.

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