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Alibaba Hops on the Metaverse Bandwagon with New Business Unit -Breaking

by Mike Robinson

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Alibaba Joins the Metaverse Bandwagon – New Business Unit
  • Alibaba Group (NYSE: ) Registered a business in software development
  • Yuanjing Shengsheng is the new Beijing unit.
  • This is according to analysts, the next step by Alibaba in its expansion into the gaming and metaverse sectors.

Chinese Giant Alibaba Group created a Yuanjing Shengsheng business unit. This move intends to test out the gaming potential of the highly talked about metaverse–deemed the future of the internet.

Exclusively owned by Alibaba’s investment arm, Yuanjing Shengsheng has declared its major business as software development and services. According to Tianyancha, this information was provided by the public registry tracking company.

With a registered capital of $1.6 million or 10 million yuan, the new unit reinforces Alibaba’s growing interest in metaverse. Metaverse, which is basically a 3D immersive virtual space in which people interact one with the other, can be described as:

Alibaba Group recently launched the NFT (native non-fungible token) marketp

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