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Shanghai’s Metaverse Masterplan: Transforming Culture and Tourism into a $6.9 Billion Industry

Orient Pearl, Shanghai, China taken during daytime

Shanghai, China’s largest city and financial capital, has unveiled an ambitious plan to develop its culture and tourism metaverse projects into a thriving industry.

With the goal of generating an annual revenue of 50 billion yuan (US$6.9 billion) by the end of 2025, Shanghai aims to leverage the power of immersive technologies to enhance its cultural and tourism offerings. This strategic move aligns with the city’s vision to become a global leader digitally while attracting domestic and international visitors to explore its rich cultural heritage.

Building a Thriving Metaverse Industry: The concept of a metaverse refers to a virtual reality-based world where individuals can engage with digital environments and interact with others in real-time. Shanghai’s plan centers around creating an extensive metaverse ecosystem that encompasses various cultural and tourism experiences, leveraging advanced technologies to captivate audiences. The city’s abundant historical landmarks, vibrant arts scene, and diverse cultural traditions provide an ideal foundation for this transformative initiative.

Through the integration of immersive technologies like augmented reality, and others, Shanghai intends to bring its cultural heritage to life in unprecedented ways.

Shanghai recognizes the potential of metaverse projects to revolutionize the tourism industry by offering unique and personalized experiences: AR tourist guides, metaverse entertainment experiences, blockchain-based artworks, and integrated use of AI.

Shanghai’s strategic plan to develop its culture and tourism metaverse projects into a thriving industry demonstrates the city’s commitment to embracing digital innovation while preserving its rich cultural legacy. By leveraging immersive technologies, Shanghai aims to captivate audiences, enhance cultural experiences, and revolutionize tourism.

The projected annual revenue of 50 billion yuan (US$6.9 billion) by 2025 highlights the economic potential of this metaverse initiative, while collaborations and partnerships will ensure its success. As Shanghai progresses towards its goal, it is poised to become a global leader in the digital economy, attracting visitors from around the world to experience its vibrant culture in groundbreaking ways.

For more market insights, check out our latest metaverse news here.

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Jack Boreham

Jack Boreham is the editorial director and account executive at the Metaverse Insider: the leading metaverse publication globally. Jack has been at the forefront of the platform's growth as a metaverse specialist -writing and advising projects in the Metaverse space for over two years. [email protected]

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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