METAVERSE RECORD INVESTMENT
Metaverse sector holds a record 43.68% of Web3 investment
A recent report by DappRadar, a Web3 monitoring site, revealed that venture capital firms have invested $707 million since the beginning of 2023.
This indicates that despite the rise of token memes and artificial intelligence (AI), 43.68 % of these investments have been for metaverse-related ventures.
DappRadar's report identifies regions such as Hong Kong, China & Japan as a continent where the metaverse will thrive. In fact, governments and companies are investing significantly in this sector and its development. Hong Kong is specifically cited as an international center of the metaverse.
This is due to the government's commitment to creating an environment conducive to innovation, with the real estate and luxury goods sectors playing a significant role in this nascent metaverse industry.
DappRadar also notes that China is one of the few countries to have formulated a 'metaverse plan' that includes the implementation of initiatives in the education and tourism sectors. Not only that, Chinese companies such as Bytedance, Alibaba, Baidu & Tencent have invested in developing hardware and software for the metaverse.
Japan, recognized as a leader in entertainment and games, is also poised to benefit from the metaverse by integrating national intellectual property (IP) into virtual and augmented reality applications, such as in the case of Pokemon Go.
According to a recent report prepared by Globaldata, a consulting firm, China is planning to surpass the West in terms of metaverse technology through continued investment in associated technologies.
Globaldata suggests that there are signs that China is continuing to invest in virtual reality and artificial intelligence, with the goal of promoting national economic development. Indeed, several Chinese provinces and cities, such as Shanghai and Zhejiang, have already unveiled plans to become major technology hubs for the metaverse.
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