China's Metaverse - How China will mirror the real world at China speed. #metaverse #meta #yuanyuzhou #chinatrends #chinasnewnormal

TIMESTAMPS
00:00 What is the Metaverse? Where did it start, when did it become a hype and how did Chinese tech companies follow the trend? And why did it cool down in the West and who never give up on the idea that metaverse would become a reality

06:05 What is the Chinaverse? How is it different from the Western metaverse? What is Chinese definition of the metaverse? Is the metaverse the next big thing? There are three things China does very well to make it the next big thing, and faster and bigger than the rest of the world. 1. Infrastructure 2. Use cases 3 Adoption

10:33 What is China good at in terms of infrastructure?
1/ Hardware: China is making the cheapest and available hardware VR and AR headsets to make the Chinaverse come to live. Especially AR will be big in China because of its use cases for cities and retail.
2/ Platforms: The big 4 tech companies of China has all the layers and building blocks available to build the Metaverse platforms.
3/ Communication: China is leading on 5G and in 20230 expect 6G to be years ahead on the West. Because 6G will make the Metaverse immersive as expected for good user experience
4/ Regulation: China has banned crypto-trading and mining, and NFTs are not allowed to trade with cryptocurrency. But most important is that Beijing has put VR and Metaverse into their 5 year plans and have not cracked down on VR yet.

20:07 Use Cases is what is going to make or break the Metaverse. What is happening today in China?
1/ Gaming and entertainment: Tencent and China is the biggest gaming community in the world. But most important is all about entertainment and events where lots of people gather in virtual world. NFTs is limited in trading in China, and much more used as collectible than as trading.
2/ Retail and Fashion: China is leading the world in New Retail where online and offline are merged, where e-commerce is already going full speed ahead in the virtual world.
3/ Industrial push of the Metaverse: This is to support China's self-Reliance of industries that matter for Beijing. This is why VR is a big push for China...
4/ Education, Work, Travel, Culture: China is experimenting with VR and AR to make cities and industries more attractive and will help raise the productivity of work and making cities smart

30:56 User Adoption are going to be definitive to make the metaverse ubiquitous
1/ Content: China has no lack of content, but do lack studios to make ideas come alive. Much of the content are driven by trying out things, and this is going to be China's advantage
2/ Users: Gen Z in China is adopting new virtual worlds faster and more open to create and participate. Especially the trend of virtual influencers shows how China seeks to make the virtual world look as much alike to the real world as possible.
3/ Real Name registration is driving adoption of metaverse in China, because people in China's metaverse are known.
4/ Digital currencies: CBDCs could be the big boost for China's metaverse as trading can happen in virtual world with no limitations as it is supported by the People's Bank of China.

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