China Mobile Creates Metaverse Alliance with Huawei, Xiaomi & More
The newly-formed metaverse alliance by China Mobile features 24 initial members, including Huawei, Xiaomi and HTC, with one of their goals being to improve metaverse development in the country. A member alliance fund was also announced.
China Mobile, the country’s largest wireless carrier, has announced the formation of its own metaverse alliance over at this year’s Mobile World Congress Shanghai (MWC Shanghai), with industry giants such as Huawei and Xiaomi part of the forward-thinking group.
At the event, the state-backed company unveiled the first 24 members of the alliance. Some of the members, aside from Huawei and Xiaomi, include HTC, Unity China, Mango TV, iFlytek, among others. You can see all of the included members as of writing in the image down below.
Through this alliance, the state-owned company aims to establish “the world’s strongest metaverse circle of friends,” whose main goals include focusing on improving the current state of metaverse development in the country, encouraging collaboration between companies through shared resources while forming a “win-win concept” where they’ll reap the new sources of revenue that will arise from the virtual economy.
Next to this collaboration between giants of the country, the wireless carrier also announced the establishment of a member alliance fund. The purpose of this fund is to support innovative metaverse-related projects while financing R&D on XR content creation and hardware.
The deputy manager of China Mobile, Zhao Dachun, said at the MWC Shanghai 2023 press conference that the metaverse could bring in trillions of yuan, that is, hundreds of billions of dollars, and that this digital space will be “an important carrier to accelerate the construction of digital China and realize the digital economy.”
The news was reported by Shanghai Securities News in Chinese, which you can check out here. Special thanks to Road to VR for their translated report.
Last month, the Shanghai Government revealed plans to use the metaverse for tourism and culture development, while in May, Zhengzhou City revealed plans to invest billions in metaverse companies.
