Sichuan Province Targets Metaverse Industry Expansion
Sichuan, a southwestern Chinese province that was once known as a thriving crypto mining hub before the national mining ban, is now looking to expand its metaverse industry.
The government of Sichuan unveiled an ambitious draught action plan with the goal of growing the nascent metaverse industry into a massive market worth $34.4 billion by 2025.
The provincial government unveiled a blueprint outlining a multifaceted strategy for developing the metaverse landscape.
The establishment of several specialised industrial parks dedicated to metaverse-related ventures is central to the plan.
The Sichuan government aims to grow 15 premier metaverse firms by refining the region’s blockchain infrastructure. They are focusing on privacy safeguards and cross-chain control mechanisms. The government will regulate personal data protection, internet security, and data integrity within the metaverse realm. The provincial government is soliciting public feedback on a draft action plan, with the consultation period ending on August 22nd.
(With inputs from Shikha Singh)
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