12 domestic provinces are competing to introduce policies, tens of millions of subsidies to grab Metaverse talents

The pace of industrial investment and investment promotion is accelerating

What is the attraction of the Metaverse to governments?

KPMG ‘s “Preliminary Exploring the Metaverse” report released in March 2022, based on the panoramic presentation of the Metaverse ecological map, from the origin and definition of the Metaverse, basic hardware and core technologies, prospects for ten application scenarios, and four opportunities and challenges. dimensions are analyzed.

The bottom layer consists of basic hardware such as perception and interaction equipment, network transmission, and chip computing power. On this basis, core technologies such as artificial intelligence, blockchain, cloud services, and digital twins have jointly built a rich digital world.Metaverse has rich application scenarios on the consumer side (to C), enterprise side (to B), and government side (to G). The industry has a profound impact, and the economic and business model changes it drives may also give birth to new business formats.

To put it simply, the future Metaverse will permeate all aspects of many industries in society.

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“Racing” the Metaverse in multiple places

In the face of the huge industrial chain, at the beginning of 2021, the design of Metaverse technology and related industries at the national and local levels will gradually take place.

In December 2021, the Central Commission for Discipline Inspection and the State Supervision Commission published an article “How Metaverse Rewrites Human Life”. The article pointed out that it is necessary to rationally view the new round of technological revolution brought by the Metaverse and its impact on society, and reminded that the Metaverse may become the next opportunity for the development of games, social networking, retail and e-commerce.

In January of this year, the Ministry of Industry and Information Technology emphasized that it should pay special attention to cultivating a group of “little giant” enterprises that are deeply involved in the professional fields of industrial Internet, industrial software, network and data security, and smart sensors, and cultivate a group of companies that enter the Metaverse, blockchain, and artificial intelligence. Innovative SMEs in emerging fields .

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Metaverse Virtual Forum

In addition to the statements of national ministries and commissions, more specific and pragmatic Metaverse layouts have been written into government work reports and industrial plans.

According to the “Metaverse Industry Policy Summary” report released by Zero One Think Tank, as of June 23, 2022, 12 provincial (including municipality) units and 14 municipal units across the country have issued 45 items that clearly support the Metaverse industry policy.

Judging from the policies issued by provincial administrative departments and relevant units,Shanghai has issued a total of 7 Metaverse-related policies , the largest in number and the earliest in time. Shandong Province has intensively introduced 3 Metaverse-related policies from March to April 2022. Zhejiang Province, known as a province with a large digital economy, is more cautious in the policy support of Metaverse. Beijing and Chongqing are the first in the country to release special Metaverse support. plan .

In some areas, the local party committee and government directly take charge of the work of Metaverse. Hangzhou, Hefei, Chengdu, and Wuhan have included Metaverse in the 2022 government work report; Hubei Province and Zhejiang Province respectively issued documents in the name of the Provincial Government Office and the Provincial Digital Economy Development Leading Group Office to arrange Metaverse-related work; The secretary of the Nanchang Municipal Party Committee, the secretary of the Xuhui District Party Committee of Shanghai, and the secretary of the Changning District Party Committee arranged the relevant work at the public meeting.

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Behind the active actions of various places is that Metaverse brings new development opportunities to the local economy.

From the perspective of economic scale, Bloomberg predicts that the Metaverse will reach a market size of $800 billion in 2024 ; PricewaterhouseCoopers predicts that the Metaverse market will reach $1.5 trillion in 2030 .

The pace of industrial investment and investment promotion is accelerating

The accelerated landing of Metaverse is inseparable from the market promotion, and local governments have tried their best to attract enterprises to settle down.

The establishment of the Metaverse Industrial Investment Fund led by local governments has been relatively concentrated this year.

In March, the Future City of Yuhang District, Hangzhou planned to gather XR industry funds with a scale of 1 billion yuan in order to encourage the upgrading and development of the XR industry; in May, the Metaverse Joint Investment Fund in Tianhe District, Guangzhou was officially released, with a total scale of more than 20 billion yuan;6 On the 16th, Shanghai announced that it will launch a 10-billion-level Metaverse New Track Industry Fund to build 10 leading companies with international competitiveness.

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Doctor wearing XR equipment doing medical work

In addition, Beijing City Sub-center will use the “Fund of Funds + Direct Investment” method to join other social capitals to support Metaverse start-ups and major projects by creating a fund covering the Metaverse industry; Xiamen, Fujian calls on the introduction of industry leading enterprises to increase Attractiveness to leading companies in the Metaverse at home and abroad.

In addition to industrial funds, how to attract talents is also the top priority of Metaverse’s development. In addition to Hangzhou Qiantang, which offers subsidies of up to 10 million yuan to attract talents from the Metaverse industry, Beijing, Guangzhou, Nanjing and other places have detailed housing subsidies in the Metaverse layout plan. For example, Guangzhou will give up to 1 million yuan for rent. Subsidies, 5 million yuan subsidy for purchasing office space; Nanjing provides an annual operating subsidy of 200,000 yuan for carriers with an area of ​​more than 400 square meters, and an additional 50,000 yuan subsidy for every additional 100 square meters, striving to be a settled Metaverse enterprise Provide one-stop incubation services.

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Regulation never stops

The Metaverse is a new thing. While maintaining optimism about the development of the industry, we must always be vigilant about new challenges and hidden worries that may arise. In fact, in response to the hype about the concept of the Metaverse in the market, the relevant regulatory authorities and official media have long since ended.

On February 18 this year, the China Banking and Insurance Regulatory Commission issued the “Risk Warning on Preventing Illegal Fund Raising in the Name of “Metaverse”, pointing out that some criminals have recently recruited under the names of “Metaverse Investment Project” and “Metaverse Chain Tour”. Funds, suspected of illegal fundraising, fraud and other illegal and criminal activities.

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China Banking and Insurance Regulatory Commission official website

The four Metaverse methods of “cutting leeks” were publicly named respectively: fabricating false Metaverse projects, defrauding under the banner of Metaverse blockchain, maliciously hyping Metaverse real estate to make money, and engaging in Metaverse virtual currency for illegal profit in disguise.

In addition, the protection of data and personal information in the Metaverse is particularly critical.The Civil Code, which has been implemented in recent years, clarifies the protection of virtual property in Article 127 of the General Provisions. Some experts believe that this provision provides a normative basis for the protection of virtual property in the future Metaverse, and also provides enough space for expanded interpretation.

Industry insiders pointed out that due to the characteristics of globalization, it is difficult for our traditional supervision laws, technical conditions, talent reserves, etc. to adapt to the government supervision of Metaverse for a long time. In the early days of the universe, because of its small influence and few transactions, the government may have wait-and-see and understand factors about its development, which can reflect a certain tolerance and prudence. When the Metaverse develops to a certain stage, it reaches a certain level of influence in games, business solutions, advertising, etc., and begins to set foot in the new world of the digital economy, the government’s supervision should be strict and stable.

At the same time, the specific requirements of the “traffic light” are now unclear in the field of the Metaverse. In the Chinese market, Metaverse’s understanding of policies should not only stop at execution and implementation, but should also strengthen research and prediction. In business development, sufficient buffer zones must be reserved, and operators must ” Yellow light” awareness.

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