According to the official website of the Shanghai Hongkou district government on Oct. 11, applications for a science and technology business project with a metaverse focus have already started. As part of this initiative, the local government body will provide eligible startups with financial support of up to 200,000 yuan ($27,878).

The official website shows that certain conditions must be met in order to apply, while several specific sectors related to the metaverse are listed, such as virtual characters, professional user-generated content, occupationally generated content, multi-channel networks, UGC gaming platforms. , digital twins, digital sandbox simulation, AR/VR/MR, NFT/NFR, 3D and 4D virtual world development.

Applicants must have access to core technology, have…