China’s Tech Giants are Rushing Into Metaverses

The world of metaverses - with an estimated value of $8 trillion - attracts China's tech giants but will be heavily regulated

Giant tech companies in China have started investing in metaverses – the most famous thing that Internet technologies have reached, and although there is no fixed and clear concept, it mainly refers to the virtual worlds in which people will play and live, but regulators will tighten their regulation greatly on this market New as Beijing continues to restrict the practices of local technology companies. Read more [Republic of China Fines Big Tech Companies].

The first American companies that introduced the concept and rushed to invest in it, such as Facebook, which directed its focus towards metaverses with the change of its name to Meta, and we also mention Microsoft, which acquired Activision to participate in the Metaverse games. Read more [Facebook Officially Changed Its Name To Meta] [Microsoft Buys Activision for $68.7 Billion].

The apparent total market value of metaverses could be around 52 trillion yuan, or $8 trillion, according to Morgan Stanley estimates.

Analysts believe that virtual reality, gaming, and social networking will be among the early applications of the metaverse world, and may also include purchasing virtual items or creating digital avatars for each person to participate in meetings. Read more [The World of Metaphysics Will Be Investable].

It is expected that major tech companies in China will be among the first contributors to Metaverse. For example, Tencent owns WeChat, which is a very popular chatting service in China with more than one billion users with a clear influence on the attitudes of Chinese users.

While looking at Alibaba, CEO Jack Ma stated that his company has a lot of basic technologies and qualifications to experiment and develop metaverses, in addition to the company’s plans to launch augmented reality glasses for virtual meetings. As for ByteDance, which owns the TikTok application, its investments were fierce in the gaming world over the past year. Read more [The Digital Yuan Finds The Way To The WeChat App] [Baidu Will Need 6 Years to Launch its Own Metaverse].

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