In a report published by the US investment bank Morgan Stanley, it was stated that the metaverse market in China could reach 52 trillion yuan, or approximately 8 trillion dollars, and Chinese giants are rolling up their sleeves to get their share from this market.
China’s technology giants such as Tencent, Alibaba, NetEase and TikTok owner ByteDance are leading the way in Metaverse in China.
Morgan Stanley made the following statements in its report:
“The metaverse is the future of social networking. All of China’s tech giants have to embrace it to find new ways to engage the youngest generation of internet users.”
It looks like China’s future in the metaverse will be different from other countries. Because of the negative approach of the Chinese government, its strict rules in the technology sector and its pressure on cryptocurrencies, it will follow a different development from other countries in the world.
While US companies like Facebook’s parent company Meta and Microsoft are doing everything on the metaverse concept, Chinese companies are taking a more cautious approach due to tighter regulations. However, this does not prevent investments from continuing.
As it will be remembered, Chinese e-commerce giant Alibaba was also involved in the metaverse frenzy in the last days of 2021.
Alibaba Group has launched a new metaverse-focused company, Beijing-based “Yuanjing Shengsheng”, to test the gaming potential of the Metaverse.
Tencent CEO Pony Ma, who thinks that there is a future in Metaverse like Alibaba, also stated in an interview that Metaverse will be an opportunity for existing industries such as games to grow.
*Not Investment Advice.