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The Metaverse Overview : Vision, Technology, and Tactics | Metaverse tactics for enterprises development of the digital industry should not use it to price products Opinions also prohibit acting as a and pushing the integration of the or services, or directly or indirectly market maker and other trading Metaverse, big data, cloud computing, provide Bitcoin-related services. The methods. In addition, as NFTs are blockchain, geospatial information, notices clarify that token issuance considered to have financial attributes, and quantum technology with the real is essentially an unapproved, illegal marketplace must obtain approvals economy. public financing, with suspected illegal from the State Council and its financial sales of tokens and securities, illegal authorities. Hefei and Hainan bring Metaverse fundraising, fraud, pyramid schemes, into future strategy and other illicit activities. 4.4 Metaverse tactics Within the next five years, Hefei The Metaverse presents a huge plans to put more effort into future In 2021, China adopted stricter opportunity but also major risks. industry, aiming to develop a group digital currency policies, with mining Enterprises aiming to embrace the of pilot companies, leading-edge designated as an eliminated industry Metaverse should take the following technologies, and high end products and clarification that digital currencies approaches: in areas including the Metaverse, such as Bitcoin and Ethereum do • Active learning. The Metaverse is superconducting materials, and not have the same legal rights as essentially a new technology-driven precision medicine. fiat currencies. Related financial revolution in society with deep activities and overseas digital currency influence. To embrace this change, In Hainan, meanwhile, the Sanya exchanges providing services to enterprises should understand its full Municipal People's Government residents in China have been declared scope before seeking opportunities and NetEase have signed a strategic illegal. in the Metaverse. cooperation agreement in which NetEase base its Hainan headquarters In the NFT space, platforms needs to • Gain first-mover advantage. in Sanya. From this new base, it will finish a very strict approval process Enterprises hoping to enter the develop the NetEase Metaverse before conducting business. This Metaverse and provide services to Industrial Base project to promote requires them to have licenses for companies or individuals must move high-quality development of Hainan's value-added telecommunications fast, provide targeted solutions, and digital culture and creative industries, and the dissemination of audio-visual enter customers' consciousness to and create an international digital programs via information networks, amplify results. The capital market, innovation center that integrates a permit for cyber culture business enterprises, and individuals accepted internet technology with digital content operations, one recordation for the concept of the Metaverse rapidly. production, copyright operations, and blockchain information services and Despite recent drops in market products. another for artwork business record. It valuations of Metaverse-related is difficult for enterprises to acquire all companies, it gained acceptance Move forward cautiously of these. much faster than the internet did China's policies on digital currencies when it emerged. This means each and digital art transactions are the Furthermore, it is difficult to operate window of opportunity will not main reflection of its cautious attitude an NFT marketplace. According to be open for long and first-mover towards the Metaverse the advantage is key. Implementation Opinions of the General Office of the State Council • Treat the Metaverse as an China has strict supervision on digital on Straightening out and Rectifying advanced digital transformation. assets. Back in 2013 and 2017, the Various Types of Trading Venues, Businesses that want to empower People's Bank of China and other standardized contract transactions themselves with Metaverse government departments issued cannot be conducted by centralized technologies and models can notices clarifying that Bitcoin does trading methods including call or consider these part of their overall not have the same legal status as fiat continuous auctions, electronic digital transformation and intelligent currencies and financial institutions matching, anonymous trading. The 46

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