As China Warms Up to the Metaverse, Who’s Building It?

With no shortage of companies beginning to shape the development of China’s nascent metaverse, Jing Daily gives an overview of its key architects and players. 

Is the metaverse Chinese tech’s next battlefield? An outpouring of companies looking to control virtual worlds means it could well be. From Tencent to Tmall and CryptoC Labs to Cishi Culture, businesses are shoring up their digital offerings as consumers on the mainland warm up to the metaverse, or virtual worlds.

The digital hyperconnectedness in China means that the lines between physical and virtual realities are already blurred. And, where China’s biggest tech companies go, the market follows: Over 400 companies, including Tencent and Alibaba, have trademarked several terms related to the buzzword (such as “Ali Metaverse”). Investment is flooding into the metaverse sector too; Beijing’s augmented reality technology company Nreal just completed a Series C funding round of over $100 million.

As interest in the metaverse as a term starts to ignite among citizens, the hashtag has 340 million views on Weibo. The Global Times reported that a six-episode online course about the metaverse costing a mere $4.69 has been signed up for by 40,000 people. Continue to read the full article here