China adds more companies to an industry body designed to develop the countrys metaverse

▤ Summary

A Chinese industry body designed to develop the countrys metaverse applications has added a new batch of companies as it pushes ahead with the latest technology craze. On Wednesday, the state-backed China Mobile Communications Associations metaverse committee added another 17 companies. Often, China sets up such committees around technologies it wants to develop quickly and take a lead in, such as blockchain. Like U.S. technology giants, Chinese companies from Tencent to Alibaba are all exploring developing metaverse applications. But analysts said that Chinas development of the metaverse is likely to be highly regulated and is unlikely to feature cryptocurrencies, which authorities have taken a hard stand against.

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