The recently opened New Metaverse World in Qiantang District will introduce and foster a number of innovation-oriented SMEs based on the core underlying metaverse technologies, such as digital twin, AI and virtual digital technologies, and the new application scenarios like games and social contact.
As a result of metaverse boom in recent years, multiple districts in Hangzhou have started to plan "Metaverse Industry Competition". Yuhang District and Qiantang District have even provided a maximum of 100 million yuan to subsidize the projects.
What are Hangzhou’s strengths in gaining initiative in the new metaverse competition? The city has core technologies of the metaverse industry with diversified application scenarios. Also, Hangzhou attaches great importance to the development of digital economy and has accumulated many effective experiences and developed a complete system in the incubation of new technologies related to metaverse.