metaverse

China aims to establish advanced metaverse industrial cluster

China has unveiled a national plan to develop its own metaverse by 2025, with the goal of creating three to five globally influential metaverse companies. This plan was published by five Chinese ministries led by the Ministry of Industry and Information Technology in a policy document.

The policy blueprint covering the time period of 2023 to 2025 highlights the application of metaverse technology in various industries, such as home appliances, automotive, and aerospace.

The development of artificial intelligence, blockchain, and virtual reality technologies will be key to achieving the metaverse vision and the Chinese government aims to establish three to five industrial clusters around these emerging technologies. The document also suggests that manufacturing industries, including steel and textiles, can adopt related technologies to optimize scheduling, material calculation, and other parts of the production process.

Previously, some local authorities in China like Henan and Shanghai province have also issued their own policies to promote metaverse development, emphasizing on how it can support the economy and traditional industries.

The EU Commission presents EU strategy to lead on Web 4.0 and virtual worlds

The European Commission has adopted a new strategy for Web 4.0 and virtual worlds. The EU strategy aims to steer the next technological transition and ensure an open, secure, trustworthy, fair, and inclusive digital environment for EU citizens, businesses, and public administrations.

The strategy aims to empower people and reinforce skills, support a European Web 4.0 industrial ecosystem, promote virtual public services, and shape global standards for open and interoperable virtual worlds. The Commission believes a Web 4.0 will be a next generation of the Internet infrastructure that will allow an integration between digital and real objects and environments, and enhanced interactions between humans and machines.

The strategy is based on consultations with citizens, academia, and businesses and builds on the work of the European Commission on virtual worlds.

UAE aiming to lead the way in Metaverse innovation with digital smell technology

The United Arab Emirates (UAE) is embracing the potential of the metaverse and attracting innovative startups in the field. One such startup is Auralink, co-founded by 21-year-old Italian inventor Alistair Pernigo. Auralink specialises in advanced technologies that detect, analyse, and reproduce smells. Pernigo has created a device called Meta-nose, which can identify thousands of smells with over 95% accuracy by detecting gaseous particles and converting them into digital data.

The UAE has been proactive in supporting metaverse-related initiatives. It developed the Dubai Metaverse Strategy in 2022, aiming to attract 1,000 companies, create 40,000 virtual jobs, and add $4 billion to Dubai’s GDP by 2030. The establishment of Dubai’s Virtual Assets and Regulatory Agency and the creation of bespoke rules and incentives for working in the Metaverse have facilitated the growth of the industry.

While the Metaverse and immersive technologies are still in the early stages of adoption, the UAE’s government enterprises are driving the exploration of these technologies. Various government entities, including the Economy Ministry, have established departments dedicated to the Metaverse. The Ajman police force, for example, has created a Metaverse experience that enables virtual conversations and interactions with virtual avatars of officials.

Meta ramps up AI focus as it juggles Metaverse ambitions and competition

Meta is aiming to establish itself as a significant player in the field of artificial intelligence (AI) as it faces competition from other tech giants. Meta recently launched the AI Sandbox, which allows marketers to use AI to create more options for ads, and announced Meta Lattice, an AI-driven model to improve ad performance on its networks.

CEO Mark Zuckerberg has emphasised the importance of AI for Meta’s revenue growth and its role in creating dynamic and accessible virtual reality experiences in the Metaverse. However, this shift has led to confusion among employees and investors regarding the company’s core focus.

Compared to its competitors, Meta’s AI offerings have been viewed as more modest. While Microsoft, Google, and startups have made strides in developing innovative AI technologies like chatbots, Meta has faced setbacks with its own projects, including the Galatica language model and BlenderBot 3 chatbot, which generated negative publicity due to inaccurate and hateful output. Nevertheless, the company remains committed to both AI and the metaverse, according to Zuckerberg, as it seeks to secure its financial performance and employee morale.

The metaverse might add up to a 2,5 percent of the US GDP in the next decade

The metaverse, a virtual world where people can interact with each other in a fully immersive way, could become a massive economic force, according to a commissioned study by Meta (former Facebook). The study estimates that by 2035, the metaverse could contribute to 2,4% of the US economy (around $750 billion) creating new jobs and generating trillions of dollars in revenue.

The metaverse could transform various industries, including entertainment, education, and retail, offering new ways for businesses to reach customers and creating new job opportunities for creators, developers, and engineers. It could also change the way people work, socialise, and consume content, creating a new era of virtual experiences.

However, the report also acknowledges the potential risks of the metaverse, such as privacy concerns, security risks, and the possibility of widening social inequalities. It calls for a collaborative effort between industry, government, and civil society to ensure that the metaverse is developed in a responsible and inclusive way. Overall, the study suggests that the metaverse has the potential to become a significant economic force in the near future, but it will require careful consideration and collaboration to ensure that it benefits everyone.

The EU’s antitrust chief wants to ensure healthy competition exists within metaverses 


The European Union’s antitrust chief, Margrethe Vestager, has announced that the metaverse will be the next digital market to face regulatory scrutiny.

Vestager has raised concerns about the possibility of Meta’s dominance, with Google and Microsoft also active in generative artificial intelligence. At a conference organised by Keystone Strategy, Vestager questioned what healthy competition would look like in the metaverse and whether competing digital realities and language AI models would change the equation. Vestager emphasised that regulatory scrutiny of digital markets has been increasing worldwide in the past three years, and all jurisdictions are moving forward in some form or another. While antitrust enforcers are moving at different speeds, Vestager believes this can benefit mutual learning and toolkit refinement.

Metaverse Fashion Week 2023: A Showcase of the Future of Digital Fashion

The second annual Metaverse Fashion Week (MVFW) will run from March 28-31 in Decentraland. MVFW23 will take place across multiple metaverses, with Decentraland’s Luxury District serving as the heart of digital fashion.

The event will showcase the latest trends in digital fashion and highlight the potential for interoperability between open metaverses. Top brands such as Dolce & Gabbana, Tommy Hilfiger, COACH, Adidas, DKNY, Vogue Singapore, Monnier Paris, DUNDAS, Phygicode Dress in collaboration with Rubin Singer, and many others will lead an all-star lineup of designers.
Pioneered by Decentraland and UNXD in collaboration with the Spatial and OVER metaverses, MVFW23 will bring fashionistas worldwide together to witness the newest advancements in digital fashion. The curatorial theme Future Heritage will connect emerging digital designers with established traditional fashion institutions, showcasing the connection between innovation and tradition.

Unlocking the potential of the metaverse: Huawei’s vision for East Asia

Huawei is ramping up its efforts to bring new technologies to the forefront with its latest partnership announcement. The tech giant has teamed up with a number of blockchain companies to launch its Metaverse and Web3 Alliance projects aimed at driving the adoption of these cutting-edge technologies in East Asia and beyond. This collaboration was unveiled at the Huawei Cloud Asia Pacific Partnership Leaders Summit in Bali, Indonesia, on 23 February.

The partnership sees Huawei joining forces with leading blockchain companies such as Polygon, Deepbrain Chain, Morpheus Labs, and Blockchain Solutions, with more expected to follow suit in the near future. These partnerships are part of Huawei’s broader strategy to drive digital transformation and productivity across the globe. In addition to its blockchain alliance, Huawei has set its sights on rolling out 6G networks by 2030.

Amazon to bring metaverse to esports and education sectors

Amazon UNIVERSITY Esports has introduced a new project called UNIVERSITY World, which aims to bring the metaverse to the education and esports sectors by connecting students from different countries. The project features a virtual world where students can interact with each other in a central hall and specific rooms for each country. The platform includes a chat function, mini-games, and other activities that enable players to compete for prizes and build a global community.

The project aims to improve students’ experience by creating a virtual environment that allows them to interact in new ways and test out new products. This project also aims to overcome limitations and provide a platform for enhanced user experience.

Tech giants team up to build mixed-reality platform

Samsung, Google, and Qualcomm have announced they are teaming up to build a mixed-reality platform. The announcement was made during Samsung’s Unpacked event by high-ranking officials from the three companies. There is no mention of whether any specific products are already being developed. 

In an interview with CNET, TM Roh, who leads Samsung’s mobile division, said the announcement is ‘declarative’. He said each company would contribute expertise to create the mixed-reality platform.