Tianyan’s information There are 8,543 trademark registrations for the term “metaverse” from 1,368 entities in China as of December 19. Meanwhile, just about 130 companies applied last month or about a tenth of the current number.
Analysts claim that Chinese tech businesses are now racing to embrace technology in the metaverse environment. Building complex metaverse experiences takes years, placing late market entrants at a disadvantage.
In this new battle, the Chinese behemoths do not want to be left behind. ” The metaverse market is expected to reach $800 billion by 2024, according to Bloomberg Intelligence.
The metaverse promises a lifelike, immersive virtual world where people can meet, work and play, and is considered by many as the next iteration of the internet. Transactions and purchases of virtual items in the metaverse are made with cryptocurrency, backed by non-fungible tokens (NFTs) or other digital assets.
Despite the government’s cautious attitude, China’s top companies are rushing to follow the trend, proving the appeal of the ‘metaverse’.
BIZVERSE joined early and accelerated, focusing on new technology to hold the investment key.
Source: South China Morning Post
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