The metaverse will become a key force in driving the digital economy in Sichuan Tianfu New Area, as the region is accelerating development in the industry, officials and business insiders said. The metaverse refers to a shared virtual environment in which technologies like virtual reality and augmented reality are combined to create a virtual presence. Gathering officials, experts and business representatives who are involved in the metaverse, the first Tianfu Metaverse conference – sponsored by the Sichuan Tianfu International Conference & Exhibition Co and organized by the Sichuan Tianfu New Area Metaverse Industry Association – was held both online and off-line in the Tianfu International Convention Center in Chengdu, Sichuan province. The event attracted parties involved in the metaverse field to share insights on the future development of related technology, demonstrate industrial achievements, and discuss business opportunities and the industrial landscape, as part of efforts to promote the metaverse industry.
The technological revolution and industrial transformation across the world create opportunities for the metaverse as it has become a key topic in the digital economy’s development, local officials said. Listed as a national-level new area leading high-quality regional development, Sichuan Tianfu New Area is targeting the metaverse as a way to drive the digital economy and is striving to occupy a key position in this industry to enhance the city’s future competitiveness. During the event, the Sichuan Tianfu New Area Metaverse Industry Association announced the establishment of 12 metaverse research institutes. They are to revolve around sectors including conferences and exhibitions; healthcare; artificial intelligence; optical display technology; visual imaging; business technology; robotics; digital art; literary creation and cyber security, as part of the effort to encourage more scientists, businesspeople and artists to explore the metaverse ecosystem.
“These 12 institutes are expected to map out a new metaverse landscape based on the strength of the expo city, technological innovation and expert resources, being developed into leading metaverse research institutes in the country and drive the city’s high-quality development,” an official of the Association said. The conference also released a list of opportunities with an investment of CNY1 billion to help build metaverse scenarios in the Tianfu New Area. The list is open to businesses worldwide. It also helps the new area to become a national pioneer in the metaverse.
The conference displayed the prototype Chengdu hall of the Tianfu International Convention Center at its metaverse exhibition, allowing participants to have an immersive exhibition experience online. It also set up an online exhibition area, attracting a total of 19 high-tech businesses including CloudWalk, SenseTime, Raco, 51World and Beijing Freedo to showcase their latest technologies, applications and achievements in the metaverse. Song Bin, Founder and CEO of Beijing Freedo Technology, said events like the Tianfu Metaverse conference will become a trend and the metaverse conventions and exhibitions are expected to be one of the earliest scenarios used in the metaverse. Freedo has completed a business layout in the new area and plans to set up a talent training base in the city soon, according to Song. “There are many metaverse industrial giants planning businesses in Chengdu. These enterprises generate capital, projects and talents here, and thus help Tianfu New Area and Chengdu stand out among their peers in the metaverse industry,” he said.
Chengdu is expected to be developed into a metaverse benchmark city, and Tianfu New Area will become a benchmark area in this industry, he added. Liu Feiyu, Senior Consultant at Raco, said the metaverse exhibition gives exhibitors a better immersive experience and helps brands conduct market promotion through virtual creations compared with offline exhibitions. “Metaverse exhibitions will create a closer immersive interaction between users and exhibitors,” Liu said, as reported by the China Daily.