By 2025, the metaverses industry could reach 250 billion yuan ($34 billion). The forecast was issued by the Sichuan provincial government alongside the announcement of the creation of industrial parks to host companies tied to virtual worlds.
The action plan presented for the period through 2025 states that authorities intend to support at least 15 leading firms in the sector.
In particular, the local government will work on optimizing blockchain infrastructure, strengthening privacy protection, and developing inter-network oversight.
According to the document, among the key directions will be improved governance of digital technologies and the development of more effective rules to safeguard personal information, internet security, and data in the metaverse.
Stakeholders can submit feedback on the action plan by 22 August.
Recall that in May 2023, Nanjing launched the “Platform for Innovative Blockchain Technologies and Applications,” aimed at promoting and developing metaverses.
In the same month, the authorities of Zhengzhou published a project to launch a hub for metaverse-oriented startups. As part of the initiative, a special fund of 10 billion yuan ($1.42 billion) will be created to develop the industry.