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Beijing unveils metaverse’s innovation and development plan

Beijing authorities sent the “Metaverse Innovation and Development Action Plan” for 2022-2024 to district institutions and committees. The purpose of the document is to promote the development of Web3 and the industries associated with the segment.

According to the plan, Beijing should become “the benchmark for the digital economy.” Authorities demanded municipalities build technological infrastructure and encourage its use in various fields, including education and tourism.

The development program provides the integration of various services to create a visual digital platform for the urban space. Regions need to support “close cooperation” with technology companies.

“Based on the Beijing City Sub-Centre Industry Guidance Fund, set up a metadata industry-encompassing sub-fund to support startups and large projects,” the document says.

Officials urged, among other things, to follow “advanced trends in the NFT space”.

Earlier, Chinese officials warned that free tokens and metadata could be bubbles, Ponzi schemes or other forms of financial scams.

Recall that in early 2022, the media reported that the National Intellectual Property Administration of China had rejected several applications for metaverse-related trademarks.

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Source: Fork Log

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