Shanghai, China’s bustling metropolis with a population of approximately 29 million, has set its sights on the metaverse as a key driver of its economic development. In line with its ambitious vision, the city aims to create 30 culture and tourism metaverse projects by the end of 2025, as unveiled by the municipal administration of culture and tourism.
By incorporating cutting-edge technologies like augmented reality (AR), Shanghai aims to enable visitors to interact with iconic tourist attractions through immersive experiences. Imagine exploring historic landmarks while being guided by avatars or receiving metaverse-based services that enhance your journey.
In addition to transforming tourism, Shanghai is determined to foster the growth of digital artworks on blockchains. By exploring the integration of these artworks into platforms such as video games, the city seeks to elevate the metaverse’s impact on the art and entertainment industries. Furthermore, support for metaverse entertainment businesses, including the emergence of virtual idols, is set to captivate audiences and redefine the concept of celebrity.
Blockchain, extended reality, and artificial intelligence have been identified as key technologies crucial to the successful development of Shanghai’s metaverse. A significant project in the city’s plan involves building a consortium blockchain ecosystem and standardizing on-chain digital artworks to enhance interoperability and streamline the digital art market.
Shanghai’s metaverse ambitions extend beyond the culture and tourism sector. In July 2022, the city identified metaverse technology as one of its three “new tracks” for economic development, alongside intelligent terminals and low-carbon industries. With a metaverse industry expected to generate an annual revenue of 350 billion yuan (approximately US$52 billion) by 2025, Shanghai has also allocated a metaverse industrial fund worth US$1.4 billion to drive innovation and growth.
It is worth noting that Shanghai is not alone in its metaverse endeavors. Several other Chinese cities and provinces, including Nanjing, Zhengzhou, and Hangzhou, have also released plans and policies this year to foster metaverse development.
Also Read: China Nanjing City Unveils State-Backed Metaverse Initiative
Shanghai’s push for metaverse integration in culture, tourism, and digital artworks represents a significant leap towards a more immersive and interconnected future. By harnessing the power of technology, the city aims to redefine traditional experiences and unlock the vast potential of the metaverse.
