Tsinghua University introduces China’s first metaverse laboratory. It will perform the research work on the industry’s digital growth and the expansion of the country. The metaverse is named “Metaverse Culture Laboratory”, a collaboration between the School of Journalism and Communications of Tsinghua and Chinese online (COL), the largest authentic digital content provider in China.
The laboratory will perform scientific research, technology, skills and industrial advantages. It will also study deep-seated concerns and build leading ideas related to them.
Companies’ shift towards metaverse and NFT industry
China is now actively exploring non-fungible token (NFT) and metaverse industries. An example of the same is: Xpend, the country’s electric automotive producer, has launched a car model based on NFTs. This was released on Jingtan, an NFT platform founded by e-commerce giant Alibaba.
How to integrate the metaverse remains a key challenge that most Chinese companies are attempting to figure out and overcome. The Chinese finances are utilized for this emerging trend in technology. Companies’ responses toward NFT platforms or startups that are using their services have begun to shift.
NFT accounts are banned by WeChat for violating the platform’s policies on illegal trading. Two of the well-known outfits have suffered this issue, much-hyped NFT platform Xihu No 1 and Dongyiyuandian, both declared their accounts and applications had been taken down.