In the Chinese city of Nanjing launched its own metaverse

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Nanjing University of Information Science and Technology has created its own virtual worldon the blockchain to drive research and development of metaverses across the country.

The project, called Blockchain Technology and Application Innovation Platform of China , was created with the support of the state.The goal of the project is to "deepen the integration of industry, science, and research in the field of the digital economy and the metaverse." Among the founders of the platform are various academic institutions and blockchain companies from all over the country. 

While an initiative by Nanxing University, one of the country's most prestigious countries, aims to present a digital China, it can alsoauthors, become an important boost to the economy of Jiangsu Province.

The province aims to generate 135 billion yuan ($19.3 billion) in annual revenue by 2025 throughof the metaverse industry, which can help Nanjing rise in the ranking of commercial attractiveness. 

In December 2022, the provincial administrationZhejiang stated that it intends to make the region one of the largest centers for creating metaverses in the PRC. For this purpose, the authorities were going to allocate a budget of $28.7 billion.

In July 2022, Shanghai introduced the roadmap of the development of metaverses, allocating $52 million for them. According to local media, the metaverse industry in China has already attracted about $780 million, and this figure is expected to grow to $5.8 trillion by 2030.