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Chinese authorities plan to create an industry fund of approximately $1.5 billion to fund metaverse development. It is believed that this will help revive the country’s economy. The
Chinese authorities plan to create an industry fund of approximately $1.5 billion to fund metaverse development. It is believed that this will help revive the country’s economy.
The new initiative, which includes support for the development of environmental projects, is expected to “create benefits for future development” and “a starting point for accelerating economic recovery”. Authorities believe industries such as metadata storage and smart terminals will continually drive new business plans and models. It is believed that this will lead to the emergence of “killer” applications and popular products with enormous market value.
The $1.5 billion fund will help Shanghai create 10 leading companies and 100 small businesses that can launch at least 100 “benchmark products and services” by 2025.
Source: Port Altele
I’m Maurice Knox, a professional news writer with a focus on science. I work for Div Bracket. My articles cover everything from the latest scientific breakthroughs to advances in technology and medicine. I have a passion for understanding the world around us and helping people stay informed about important developments in science and beyond.
