Shanghai: Provide financial support for investment projects in the “metaverse” field with no more than 30% of the project investment

According to reports, the General Office of the Shanghai Municipal People’s Government has issued a notice on policy measures to strengthen investment promotion and accelerate the construction of a modern industrial system in the new era. The measures are proposed to carry out investment attraction in the fields of “metaverse” infrastructure, interactive terminals, digital tools, etc., open up more than 50 major metaverse application scenarios at the municipal level for external investment, continue to carry out supply and demand docking and showcase, and accelerate the introduction of “metaverse” projects such as 3D graphics, image engines, and digital modeling. Increase support for investment projects in the “metaverse” field, and provide support up to 30% of the project investment and up to 20 million yuan in accordance with regulations for the introduction of key technologies, key projects, and industrialization projects that meet the conditions.

Shanghai: Provide financial support for investment projects in the “metaverse” field with no more than 30% of the project investment

* Introduction
* What is the metaverse?
* Shanghai’s policy measures to strengthen investment in the metaverse
* Investment attraction in the fields of “metaverse” infrastructure, interactive terminals, and digital tools
* Major metaverse application scenarios at the municipal level for external investment
* Supply and demand docking and showcase
* Accelerating the introduction of “metaverse” projects
* Support for investment projects in the “metaverse” field
* Conclusion
* FAQs

Article:

Shanghai’s new policy measures to strengthen investment in the Metaverse

The concept of the metaverse has been around for decades in science fiction, but it’s only recently become a potential reality. According to reports, the General Office of the Shanghai Municipal People’s Government has issued a notice on policy measures to strengthen investment promotion and accelerate the construction of a modern industrial system in the new era. The new measures are proposed to carry out investment attraction in the fields of “metaverse” infrastructure, interactive terminals, digital tools, etc., to open up more than 50 major metaverse application scenarios at the municipal level for external investment and accelerate the introduction of “metaverse” projects such as 3D graphics, image engines, and digital modeling.

What is the metaverse?

The term “metaverse” refers to a virtual space where users can interact with a computer-generated environment and each other through avatars. It’s not just virtual reality (VR), it’s much more than that. It’s a shared space that integrates multiple applications and devices – like VR, augmented reality (AR), and the Internet of Things (IoT). It’s essentially a new form of internet where users can live and interact with others in a fully immersive virtual world.

Shanghai’s policy measures to strengthen investment in the metaverse

Shanghai is one of China’s biggest cities and has always been at the forefront of innovation and technology. It’s no surprise that it’s now taking the lead in promoting investment in the metaverse. The new measures include providing support up to 30% of the project investment and up to 20 million yuan in accordance with regulations for the introduction of key technologies, key projects, and industrialization projects that meet the conditions. Technically speaking, this means that they’re incentivizing businesses to create the infrastructure to support the metaverse.

Investment attraction in the fields of “metaverse” infrastructure, interactive terminals, and digital tools

The new measures are designed to encourage investment in the metaverse industry. Shanghai will provide support for the construction of new “metaverse” infrastructure, such as cloud servers and network security systems. They want to attract investment in “interactive terminals,” which could mean virtual reality headsets, video game consoles, and augmented reality devices. Additionally, they hope to attract investors in the field of digital tools such as 3D graphics software and image engines.

Major metaverse application scenarios at the municipal level for external investment

Shanghai is aiming to open up more than 50 major metaverse application scenarios at the municipal level for external investment. This could be in the form of virtual shows, virtual exhibitions, virtual malls, and virtual tourism. The government wants to give investors the opportunity to enter a fast-growing market that is predicted to be worth tens of billions of dollars in the coming years.

Supply and demand docking and showcase

One of the ways that Shanghai is promoting investment in the metaverse is by connecting supply and demand. Businesses that provide products and services related to the metaverse can exhibit their products and services, while businesses looking to invest can find potential partners.

Accelerating the introduction of “metaverse” projects

Shanghai is accelerating the introduction of “metaverse” projects such as 3D graphics, image engines, and digital modeling. They know the potential of these technologies and hope that businesses can leverage the city’s resources to bring these projects to market. They hope to achieve this through cooperation with a network of research institutes, universities, and high-tech enterprises.

Support for investment projects in the “metaverse” field

The Shanghai government will provide financial support of up to 30% of the project investment for selected key technologies, key projects, and industrialization projects that meet the conditions in the “metaverse” field. This will help promote the development of the industry and attract more investment.

Conclusion

All in all, the Shanghai government’s policy measures demonstrate a clear commitment to promoting investment in the metaverse industry. By developing the infrastructure and providing financial support for businesses to invest in the industry, they believe that this will help accelerate the construction of a modern industrial system and ultimately create a thriving metaverse ecosystem.

FAQs

1. What are some examples of “metaverse” infrastructure that Shanghai could support?

Examples of “metaverse” infrastructure could include cloud servers, network security systems, and high-speed broadband that can support high-quality virtual experiences.
2. How will the Shanghai government attract external investment in the metaverse industry?
The government hopes to promote investment in the metaverse industry through a range of initiatives such as major metaverse application scenarios, supply and demand docking and showcases, and accelerating the introduction of “metaverse” projects.
3. How significant is the metaverse industry expected to be in the coming years?
The metaverse industry is predicted to be worth tens of billions of dollars in the coming years. As technology continues to advance, we anticipate that the metaverse will play an increasingly important role in the way we live and interact with each other.