The Chinese online retailer Alibaba registered in Beijing a subsidiary Yuanjing Shengsheng, which will test the gaming potential of the metaverse. The report is from the corporation’s owned newspaper South China Morning Post.
The subsidiary is fully owned by Alibaba’s investment arm. In its registration data it states that it will undertake software development and provide related services. The company’s registered capital stands at $1.6 million.
Earlier, Alibaba’s cloud-gaming division launched a new brand with a similar name. According to the announcement, it concerns a gaming platform. The corporation also said that the unit would offer developers free computing resources for small and medium projects.
According to 8BTC, another Chinese tech giant—Huawei— has shown interest in the metaverse concept. The company registered the trademark 元OS (the character 元 can be translated as “meta”).
Looks like #HUAWEI is applying for a #Metaverse related tradmark. pic.twitter.com/c9u3fQq4u2
— 8BTCnews (@btcinchina) December 15, 2021
According to SCMP, Baidu, Tencent and NetEase are also interested in creating and developing virtual worlds.
In December, Chinese authorities called NFT and metaverses potential Ponzi schemes.
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