China’s tech giants push toward an $8 trillion metaverse opportunity

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China’s tech giants push toward an $8 trillion metaverse opportunity — one that will be highly regulated

• China’s technology giants from Tencent to Alibaba and ByteDance are investing in the metaverse, a market that could be worth $8 trillion in the future, according to Morgan Stanley.
  
• While U.S. firms like Facebook parent Meta and Microsoft are going all-in on the metaverse concept, Chinese companies are taking a more cautious approach amid tighter regulation.
  
• China’s metaverse could look very different to the rest of the world due to government censorship, strict rules on the technology sector and Beijing’s crackdown on cryptocurrencies. 
  

Imagine this: the metaverse with Chinese characteristics. That’s how the virtual world that everyone’s talking about will likely look in the world’s second-largest economy.

China’s technology giants are beginning to invest in the metaverse — the latest buzzword in internet technology. It’s a term with no concrete definition, but largely taken to mean virtual worlds that people will be playing and living in.

Censorship will likely be rife and regulation tight as Beijing continues to keep a close check on the practices of its domestic technology firms.

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