ChainCatcher News: Meta, the American tech giant, reported in its latest financial results that its metaverse business continues to lose billions of dollars each quarter. On Wednesday, Meta announced its third-quarter earnings, stating that its Reality Labs division, which develops augmented reality and virtual reality technologies, incurred an operating loss of $4.43 billion. The loss was slightly smaller than the $4.68 billion expected by analysts surveyed by StreetAccount.Reality Labs' revenue in the third quarter increased by 29% year-over-year, reaching $270 million. Reality Labs primarily generates revenue through the sale of Meta's Quest VR headsets and Ray-Ban Meta smart glasses. Since 2020, Reality Labs has accumulated an operating loss of over $58 billion.

ChainCatcher news, according to Jinshi reports, recently the Weifang Municipal Bureau of Industry and Information Technology issued "Several Policies for Accelerating the Development of the Metaverse Industry," proposing to establish a metaverse industry fund group with a total scale of no less than 10 billion yuan, focusing on the metaverse industry chain and targeting enterprises at different lifecycle stages, with the first phase scale no less than 2 billion yuan. The funds will be primarily used to invest in and attract "strong chain, supplementary chain, and extended chain" enterprises and projects.State-owned enterprises are encouraged to jointly establish a special fund for the metaverse industry, exploring a direct investment model that combines "equity + debt." They can exit within 5 years at a rate not higher than the bank loan interest rate for the same period, and exit after 5 years in a market-oriented manner. The municipal guiding fund can transfer the value-added income to the contributing state-owned enterprises.

ChainCatcher news, according to Jinshi reports, the Metaverse Industry Committee of the China Mobile Communications Association has studied the latest notice released by the Ministry of Civil Affairs, "2024 Social Organizations Supporting College Graduates' Employment Work." The Metaverse Industry Committee will actively respond to the Ministry of Civil Affairs' requirements. As a leader in emerging technology industries and China's first national metaverse industry organization, the popularization and promotion of metaverse industry science education is a primary responsibility. The Metaverse Industry Committee of the China Mobile Communications Association has launched the "Thousand-Mile Horse" plan for talent cultivation in the metaverse industry, aiming to recruit and train a group of fresh university graduates to promote the development of the metaverse industry and advance metaverse talent construction. Under the new generation of metaverse technology framework, a group of new startups, a batch of new business scenarios, and a series of industries will be transformed and empowered by new technologies.

ChainCatcher news, according to the official website of the Jiangsu Provincial Government, recently, Yangzhou City issued the "Metaverse Industry Cultivation and Development Action Plan (2024-2026)", aiming to achieve a scale of 10 billion yuan in the metaverse-related industries by 2026 through the implementation of four major actions, driving the city's software and information service industry revenue to exceed 20 billion yuan.Carry out innovation capability enhancement actions. Promote metaverse-related enterprises to actively penetrate the VR (Virtual Reality) wearable device industry chain; build and operate an artificial intelligence service platform that provides general services such as digital identity registration, data asset management, digital twin construction, and basic mechanism modeling; promote the transplantation of existing cultural heritage, scenic spots, and historical figures into virtual space, creating a number of original digital IPs and digital human images with Yangzhou characteristics.Carry out industry主体引培 actions. Establish and improve the招商图谱 of the metaverse industry chain, introduce and cultivate a number of leading enterprises, and attract a number of industry headquarters or R&D centers; incubate a number of "little giant" enterprises, "specialized, refined, and new" enterprises, and high-tech enterprises focusing on niche tracks in metaverse technology; encourage film and television production, game development, and software R&D enterprises to adopt a crowdsourcing development model to actively undertake metaverse software and hardware product R&D and manufacturing business, accelerating the capture of new tracks in the metaverse.Carry out application scenario integration actions. Create three typical application scenarios and demonstration projects for the metaverse; build a number of "Industrial Metaverse + Vertical Industry" open platforms, guiding small and medium-sized enterprises to innovate and start businesses based on the platform; utilize artificial intelligence and digital human technology to explore the development of virtual brand endorsements and virtual live streaming economy; combine "contactless approval" with metaverse technology to accelerate the application of digital human customer service and real-time navigation in government services.Carry out industrial ecosystem foundation-building actions. Proactively layout future network systems, accelerate the research and deployment of new networks such as 5G-A/6G, gigabit optical networks/10-gigabit optical networks, FTTR (Fiber to the Room), and satellite internet; release a directory of urgently needed talents in the metaverse, encouraging universities in Yangzhou to establish new majors related to the metaverse.

According to ChainCatcher news, the official website of the Sichuan Provincial Department of Economy and Information Technology reports that the Sichuan Provincial Department of Economy and Information Technology and 16 other departments have jointly issued the "Sichuan Province Metaverse Industry Development Action Plan (2023-2025)." (Hereinafter referred to as the "Action Plan")The "Action Plan" states that its main goals are to achieve a scale of 250 billion yuan for the province's metaverse-related industries by 2025; to establish a number of key laboratories, engineering (technology) research centers, and manufacturing innovation centers in the metaverse field as innovation carriers, and to create several public service platforms for common technologies; to develop 200 typical application scenarios of the metaverse in industries such as manufacturing, cultural tourism, education, and urban development; to cultivate 15 core leading enterprises in the metaverse sector, 150 "specialized, refined, distinctive, and innovative" enterprises in niche fields, and 300 innovative small and medium-sized enterprises. To build a "China Metaverse Valley" with global influence.

ChainCatcher news, the Shandong Provincial Department of Industry and Information Technology has taken the lead in drafting the "Guiding Opinions on Accelerating the Innovative Development of the Metaverse Industry in Shandong Province" and is publicly soliciting opinions from society.The guiding opinions indicate that Shandong Province plans to achieve an average annual growth of about 15% in the scale of the metaverse-related industries by 2025, reaching around 150 billion yuan; key enterprises are expected to apply for more than 3,000 international and domestic patents cumulatively.In addition, Shandong Province will also support the construction of more than 30 public application experience centers for the metaverse, create 100 metaverse characteristic application scenarios, and develop a batch of products and services in consumer electronics, digital content, new display technologies, and more.

ChainCatcher news, the Sichuan Provincial Department of Economy and Information Technology announced on August 15 that it is publicly soliciting opinions on the "Sichuan Province Metaverse Industry Development Action Plan (2023-2025) (Draft for Comments)." The plan proposes that by 2025, the scale of the province's metaverse-related industries will reach 250 billion yuan, empowering the digital transformation and intelligent upgrading of the manufacturing industry, and initially establishing a significant and influential metaverse industry development hub.

ChainCatcher news, today, the China Mobile Metaverse Industry Alliance was officially established, with a total of 24 initial members, including China Mobile Migu, iFlytek, Huawei, Xiaomi, Mango TV, and others.Liu Xin, General Manager of China Mobile Migu, stated that for alliance members, China Mobile will focus on special support in copyright investment, marketing support, R&D funding, and capacity building in the future, with resource investment doubling in three years. (Titan Media)

ChainCatcher news, Hangzhou Shangcheng District has released several measures to accelerate the innovation and development of the metaverse industry. These measures apply to metaverse enterprises that have newly settled in Shangcheng District and are engaged in legal operations, focusing on key core technologies of the metaverse such as blockchain, artificial intelligence, interactive technology, high-performance computing chips, XR terminals, as well as basic software development, terminal equipment research and development, common technology platform construction, and digital content production.At the same time, Shangcheng District will also provide policy support for metaverse startups in areas such as entrepreneurial support, office subsidies, R&D subsidies, growth incentives, talent introduction and cultivation, financial support, benchmark scenarios, and ecological construction. Specific policies include: for newly settled metaverse entrepreneurial projects, upon recognition, a one-time establishment subsidy of 100,000 to 200,000 yuan will be granted; for metaverse enterprises with an annual main business income of 10 million yuan or more, upon recognition, a subsidy of up to 30% of the actual R&D investment for that year will be granted, with a maximum of 3 million yuan per enterprise and a subsidy period of up to three years; for enterprises that are newly included in the statistics, upon recognition, a one-time reward of 200,000 yuan will be granted. For enterprises that reach a certain scale, when their annual main business income first reaches 100 million, 300 million, 500 million, and 1 billion yuan, upon recognition, rewards of 100,000, 300,000, 500,000, and 1 million yuan will be granted respectively; for high-level talent innovation and entrepreneurship projects in the metaverse field, after the "Golden Boot Running" entrepreneurial project review, a maximum entrepreneurial subsidy of 10 million yuan will be granted, etc. (source link)

ChainCatcher news, the Hefei Metaverse Industry Association has been officially established. In the future, the association will assist the government and relevant authorities in formulating the development plan for the metaverse industry in Hefei. Additionally, it will organize and host conferences, forums, and exhibitions related to the metaverse industry. The Hefei Metaverse Association currently includes 55 initial member units.After its establishment, the association will provide advisory references for the government in formulating relevant policies. At the same time, it will establish and improve the standard system for the metaverse industry, providing technical and standard consulting services. Furthermore, with the approval of relevant government departments, the association will organize and host conferences, forums, and exhibitions related to the metaverse industry. (Source link)

ChainCatcher news, according to Yonhap News Agency, the South Korean Ministry of Science and ICT announced that it will invest 223.3 billion won (approximately 174 million USD) this year to support the metaverse industry. The government will invest 61.5 billion won in the research and commercialization of key technologies such as digital humans and holographic displays for immersive experiences; 68 billion won for the development of targeted metaverse platforms in various fields including healthcare, education, defense, industry, and economy; 16.7 billion won for talent cultivation mechanisms such as metaverse laboratories; and establish a 40 billion won metaverse corporate acquisition fund. (Source link)

ChainCatcher news, recently, the Xihu District of Hangzhou City issued the "Support Opinions on Building a High Ground for the Metaverse Industry in Xihu District" (hereinafter referred to as the "Opinions"). The "Opinions" increase subsidies for technological innovation in the metaverse from three aspects, enhancing the driving force for industrial development.According to the "Opinions," for enterprises related to the metaverse industry engaged in the research and development of core underlying technologies such as digital twins, artificial intelligence, augmented reality/virtual reality/mixed reality (AR/VR/MR), and blockchain, a subsidy of up to 30% of the R&D project costs, with a maximum of 2 million yuan for a single project, will be granted upon recognition.The "Opinions" clarify the support for the construction of characteristic industrial parks (platforms) related to the metaverse. National-level and provincial-level characteristic industrial parks (platforms) that are recognized will receive a one-time reward of 2 million yuan and 1 million yuan, respectively. In addition, "Metaverse+" scene applications in various fields are encouraged, with projects included in national and provincial industry application pilot (demonstration) programs and serving as leading units receiving funding of 500,000 yuan and 300,000 yuan, respectively.At the same time, the "Opinions" strengthen support for the introduction and cultivation of talent in the metaverse industry. For high-level talents from home and abroad in the metaverse industry who come to Xihu District for innovation and entrepreneurship, a startup funding support of up to 5 million to 10 million yuan will be provided. (Source link)

ChainCatcher news, the Wuhan Municipal People's Government has officially released the "Notice on Issuing the Implementation Plan for Promoting the Innovative Development of the Metaverse Industry in Wuhan (2022-2025)." The implementation plan mentions the innovative development of the metaverse industry, aiming to build more than 2 metaverse industry bases and more than 3 key metaverse platforms at a high level by 2025, focusing on key industry sectors to create more than 50 typical metaverse application scenarios and projects, cultivate and introduce more than 200 metaverse innovation enterprises, and establish a pilot area and core area for the innovative development of the metaverse in China with coordinated development of innovation chains, industrial chains, and value chains.The key tasks of the plan focus on strengthening metaverse technology innovation, encouraging metaverse content creation, accelerating the cultivation of metaverse products, and promoting metaverse industry applications. It emphasizes organizational guarantees and policy support, while strengthening data management alongside focusing on carrier construction and improving infrastructure.Compared to the "Implementation Plan for the Innovative Development of the Metaverse Industry in Wuhan (2022-2024) (Draft for Comments)" publicly solicited by Wuhan in August 2022, the officially published plan has undergone significant modifications in content. The content related to NFTs, which attracted some public attention in the draft for comments, has been removed from the official plan. (source link)

Chain Catcher News, on September 4, the Metaverse Industry Committee of the China Mobile Communications Association, the Blockchain Professional Committee of the China Communications Industry Association, and the Metaverse Think Tank Committee of the Zhongguancun Big Data Industry Alliance issued the "Self-Regulatory Requirements for the Healthy Development of Digital Collectibles," once again calling for industry self-discipline and setting regulatory requirements for member units of the organization: adhere to integrity and innovation, play a positive role; strengthen industrial collaboration, empower cultural soft power; resist disorderly speculation, promote standardized development; uphold compliance bottom lines, and stay away from illegal models.The document states that although in April the Metaverse Industry Committee and the Blockchain Professional Committee of the China Communications Industry Association jointly released the "Metaverse Industry Declaration" and the "Metaverse Industry Self-Regulatory Convention," the digital collectibles industry is still in its early development stage. Some enterprises have weak risk awareness, leading to a series of issues such as speculative hype, technology abuse, copyright infringement, fictitious value, irregular transactions, and potential financialization. Moreover, risks such as fraud, pyramid schemes, money laundering, and illegal fundraising remain persistent. (Sina)

Chain Catcher News, at the 2022 World Artificial Intelligence Conference themed forum ------ Exploration. Industry Metaverse Forum, the "White Paper on Artificial Intelligence Generated Content (AIGC)" co-authored by the China Academy of Information and Communications Technology and JD Exploration Research Institute was officially released. At the forum, the preparation work for the "Virtual Reality and Metaverse Industry Alliance (XRMA)" led by the China Academy of Information and Communications Technology was initiated, which has currently attracted nearly 200 units including Huawei, Baidu, Qualcomm, Telecom Research Institute, SenseTime, and others, covering key aspects of the metaverse ecosystem such as virtual humans, immersive audio and video, key components, infrastructure, business platforms, and innovative applications. (Daily Economic News)

The Chain Catcher news, themed "Integration of Digital and Real, Industrial Metaverse Birth," the 9th China Industrial Internet Summit Forum and the 2022 World Artificial Intelligence Conference sub-forum was held in Baoshan District. The "Three-Year Action Plan for the Development of the Industrial Metaverse Industry in Baoshan District" was simultaneously released, which clearly states that by 2025, the scale of the industrial metaverse-related industries in Baoshan District will exceed 10 billion yuan.At the same time, it aims to achieve the integrated development of the industrial metaverse and leading industries, helping the new materials, biomedicine, robotics and intelligent manufacturing, and new generation information technology industries in Baoshan District to exceed 150 billion yuan, 20 billion yuan, 100 billion yuan, and 30 billion yuan respectively. (Jin Ten)