Many people have claimed that many technology companies in China are working to make it possible for Chinese soccer fans in the metaverse to view the FIFA World Cup.
These projects are part a five-year Chinese government plan, which was announced in November. This plan aims to boost the local virtual reality industry and encourage it to grow.
According to a report by the state-run media outlet Global Times, Migu is one six Chinese companies that has been granted the rights to broadcast the World Cup. Migu is creating a space similar to Metaverse that allows users to view the live stream of the game using virtual reality headsets.
ByteDance is the company that owns TikTok, and its Chinese version Douyin, has been granted licensing rights to air the competition. Pico, a subsidiary to ByteDance, which makes VR headsets for the World Cup, will broadcast it live. To watch the game, users can create and join “digital rooms”.
It seems that China’s virtual reality business (VR), which is still in its infancy, uses the World Cup as a test bed for the technology.
The nation’s Ministry of Industry and Information Technology pushed an ambitious industrial strategy on November 1 with the help of four other agencies.
Even though China’s five-year plan for 2022–2026 says it wants to improve its virtual reality (VR) industry and ship more than 25 million units worth $48.56 billion, the plan doesn’t say if this goal is for each year or for the whole plan.
Plans don’t mention whether the metaverse will use blockchain technology. This is similar to the proposal by the city of Wuhan, which later was changed to eliminate any mentions of non-fungible currencies (NFTs)
X2Y2 has reduced the amount of the optional royalty. NFT marketplace, X2Y2, has changed its policy about opt-in royalty rates. In a November 18 Twitter thread it stated that creator royalties will be charged on all collections.
The marketplace became the first to adopt alternative royalties in August. It then transitioned to “flexible royalty,” which allows purchasers to select the amount of royalty they want to pay.
It was met with a wide range of responses from the NFT community.
