Chinese Metaverse Industry Raises $780 Million in Funding, According to a Report

September 4, 2022


Chinese Metaverse Industry Raises $780 Million in Funding, According to a Report. China’s industry has attracted about $780 million in capital and is expected to reach $5.8 trillion by 2030. There are currently 160,000 virtual human companies in China, while 20 provinces or cities in the country are said to support them. Metaverse. According to local media reports, China’s software industry has attracted 780 million US dollars (5.46 billion yuan). Another 20 provinces or cities currently support Metawares, adding to 160,000 “Chinese virtual human enterprises,” the report added. In addition, according to a Chinese news website, the Chinese metaverse market is expected to reach $5.8 trillion by 2030. Meanwhile, the message refers to two Chinese companies – the Internet giant Tencent and one of the country’s leading companies. Video game companies like Netease Yaotai are racing to find ways to create a metaverse. Tencent is said to be focusing on integrating artificial intelligence (AI) with the real economy, while Netease Yaotai is said to be focusing on using cloud gaming and AI to create a system that improves interactions in the virtual world.

Regarding Tencent’s efforts so far, Wu Yunsheng, the company’s vice president of cloud technology, said:

Regarding the technical implementation, we do not clearly distinguish between 2B and 2C. The Metaphors technology has application scenarios in the 2B industry (such as Bao Steel) and there are many initiatives in the QQ meta program on the C side. So when we land, we don’t really test whether it is 2B or 2C, but just see what real value or convenience our technology brings to people’s lives and productivity. On the other hand, Liu Bai, “in charge” of Netease Yaotai, said that his company has various application scenarios and nearly “100 kinds of custom clothes” used for deep modelling. Boi also outlined what he sees as the key segments of metauniverse companies. He said: “The most important positions at the Metaverse companies are R&D, product planning and art.

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