China adds firms to industry body developing the country’s metaverse
The metaverse is expected to use virtual reality as an important technology. Chinese tech companies have begun to look into metaverse applications.
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As it continues to push forward with new technology, a Chinese industry group has added companies to its mission of developing China’s metaverse apps.
Although the metaverse has yet to be defined, it often refers technologies such as virtual reality or the internet. idea that people may be playing and living in virtual worlds.
The metaverse committee of the China Mobile Communications Association, which is state-backed, added 17 new companies on Wednesday. The industry body currently has 112 members.
The latest batch includes publicly listed companies such as Inly Media, which trades in Shanghai, and Beijing Topnew Info & Tech, which trades in Shenzhen.
China Mobile Communication Association has been registered in the country with its foreign affairs ministry. It is supported by large technology companies such as Huawei, China Mobile and other telecoms operators like China Mobile. In October it established the metaverse committee. This committee is responsible for developing standards and technology in relation to metaverse.
China frequently creates these committees for technologies that it is keen to quickly develop. such as blockchain.
China could be looking at regulating technology development by setting up the metaverse committee.
“Traditional Chinese Internet businesses were established first, and then they were regulated.” Industries like the metaverse will be regulated as they are built,” Du Zhengping, head of the China Mobile Communications Association’s metaverse industry committee, told Reuters in January.
Chinese tech companies Tencent, Alibaba and others are also exploring the development of metaverse applications. But analysts saidThe development of China’s metaverse will likely be tightly regulated. It is not expected to include cryptocurrencies. Authorities have taken an aggressive stand against cryptocurrencies.