• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

China Will Become a Metaverse Tech Leader During 2023 – Metaverse Bitcoin News

2 months ago
in Bitcoin, Crypto Updates
Reading Time: 3 mins read
China Will Become a Metaverse Tech Leader During 2023 – Metaverse Bitcoin News
9
VIEWS
Share on Facebook

A report issued by Globaldata, a global consulting and data analysis company, predicts that China will become a leading country in metaverse tech during 2023. The firm believes that the development of other technologies like artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and 6G will allow China to configure itself as a metaverse hub.

China to Lead Metaverse Industry in 2023

While the interest in the metaverse seems to be waning at a worldwide level, China is still pushing to become a leader in the industry. According to a recent report prepared by Globaldata, a consulting firm, China is positioning itself to surpass the West when it comes to metaverse tech, as the country will keep investing in technologies related to this field.

The report states the importance that China gives to these accessory technologies will allow it to become a center for the metaverse. It states:

The growing emphasis on VR, AR, AI, and 6G aims to outpace advances in the West and position China as a global hub for the metaverse.

Furthermore, Globaldata believes that there are signs that indicate that China will continue to invest in virtual reality and artificial intelligence with the objective of promoting the economic development of the nation. Several Chinese provinces and cities have already presented plans to become metaverse tech hubs, including Shanghai and Zhejiang among them.

Where Will the Metaverse Go?

While the metaverse is commonly associated with software and hardware dedicated to the consumers, the report proposes the Chinese metaverse is likely to focus more on the industry and the benefits that it can reap from including metaverse tech in its processes.

The Chinese Ministry of Industry and IT recently released a report on the application of VR and metaverse tech into industrial processes, showing how these can be mixed efficiently. Globaldata predicts the metaverse will be more appreciated than other technologies due to the possibilities it presents. On this, it explains:

Chinese investments in metaverse-related technology will highlight the value of the metaverse compared to existing one-off experiences such as social media, gaming, or ecommerce.

However, even with estimations that put the metaverse sector value at $376 billion by 2025, 2023 is described as a year in which investments in the metaverse will suffer a cool-down phase, product of the “cooling interest, economic obstacles, and the immaturity of enabling technologies.”

Tags in this story
Artificial Intelligence, Augmented Reality, China, globaldata, industry, IT, Metaverse, report, Shanghai, West, Zhejiang

What do you think about the prediction that puts China over the western world when it comes to metaverse investments? Tell us in the comment section below.

img 20220427 085821 931
Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

More Popular News

In Case You Missed It

Source link

Are cryptocurrency a good investment?

Tags: BitcoinChinaLeaderMetaverseNewstech

Related Posts

How I Preserve My Wealth With Bitcoin
Bitcoin

How I Preserve My Wealth With Bitcoin

27 May 2023
Bitcoin Price (BTC) Falls to $26K; Is $24K Next?
Crypto Updates

Bitcoin Price (BTC) Falls to $26K; Is $24K Next?

27 May 2023
Tax Attacks Won’t Kill Bitcoin: Regulators Must Learn To Accept New Technology
Bitcoin

Tax Attacks Won’t Kill Bitcoin: Regulators Must Learn To Accept New Technology

26 May 2023
Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?
Crypto Price Analysis

Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

26 May 2023
Dip Buying Sentiment Slides as Bitcoin Drops to Long-Term Support
Crypto Updates

Dip Buying Sentiment Slides as Bitcoin Drops to Long-Term Support

26 May 2023
Introducing The Rolling-Block Method: A New Way To Forecast Bitcoin Mining Difficulty
Bitcoin

Introducing The Rolling-Block Method: A New Way To Forecast Bitcoin Mining Difficulty

25 May 2023


  • Trending
  • Comments
  • Latest
LUNC Burn Tax Set To Rise To 0.5% As KuCoin Proposal Receives Approval

LUNC Burn Tax Set To Rise To 0.5% As KuCoin Proposal Receives Approval

20 May 2023
Wombat Web 3 Gaming Platform (WOMBAT) Price Prediction 2023 2024 2025 2026

Wombat Web 3 Gaming Platform (WOMBAT) Price Prediction 2023 2024 2025 2026

25 May 2023
When Bitcoin Meets Artificial Intelligence: Woke Madness Or Awakened Sanity?

When Bitcoin Meets Artificial Intelligence: Woke Madness Or Awakened Sanity?

24 May 2023
Amazon Is Testing Digital Euro Prototypes

Amazon Is Testing Digital Euro Prototypes

17 September 2022
Do Kwon’s Bail Revoked; Terra Execs to Stay in Jail in Montenegro: Bloomberg

Do Kwon’s Bail Revoked; Terra Execs to Stay in Jail in Montenegro: Bloomberg

25 May 2023
Kava (KAVA) Price Rallies 10% In 7 Days

Kava (KAVA) Price Rallies 10% In 7 Days

28 May 2023
How I Preserve My Wealth With Bitcoin

How I Preserve My Wealth With Bitcoin

27 May 2023
Bitcoin Price (BTC) Falls to $26K; Is $24K Next?

Bitcoin Price (BTC) Falls to $26K; Is $24K Next?

27 May 2023
Lido Community Weighing On-Chain Vote to Deploy Version 2 on Ethereum

Lido Community Weighing On-Chain Vote to Deploy Version 2 on Ethereum

27 May 2023
Tax Attacks Won’t Kill Bitcoin: Regulators Must Learn To Accept New Technology

Tax Attacks Won’t Kill Bitcoin: Regulators Must Learn To Accept New Technology

26 May 2023

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}