Jing Daily: Turning ‘Metaverse Hype’ Into Consumption in China
2021 was dubbed the “First Year of Metaverse” in China. Since its conclusion, the country has pressed ahead with the integration of the virtual world into the country’s IRL economy. Local authorities, including those in Shanghai, Shenzhen, Hangzhou, Chengdu, Wuhan, and Hefei, have included the metaverse as one of the focal points in this year’s government work reports. Such a move has been viewed as a positive signal regarding Beijing’s stance on the new technology. While some industries have been cautious, the concept has been embraced by trend-chasing market players in the fashion industry. Perhaps it’s no surprise that luxury houses such as Balenciaga, Burberry, and Louis Vuitton — known as innovators in global fashion — have been quick to seize the momentum. Read the full article from 08 June 2022 on Jing Daily here.