Metaverse is the next-level Artificial Intelligence (AI) gaming experience created by the tech giant, Facebook. This has even spiked the interest of Chinese companies. Unlike the warning given by the Chinese government, many Chinese tech giants including the search firm Baidu have made their trademarking terms with Meta.
Meta-Universe & Its Effect On Chinese Investors
The Metaverse booth which was shown during the media day of Apsara Conference 2021 on October 18, 2021, in Hangzhou, Zhejiang Province of China intrigued many investors. Search engine Baidu was one of the investors who has shown a great interest in this gaming field.
Big Step By Search Engine Baidu
The forwardness shown by the search engine Baidu Inc. is one to be noted as this company is one of the largest AI and Internet companies in the world. This company specializes in Internet-related services and products and artificial intelligence, headquartered in Beijing’s Haidian District. Even though there were many warnings from the Chinese government and the Chinese government’s ban on Facebook Co., this bold step surely is one to look for. The Chinese search engine giant Baidu applied to trademark the term ‘meta-app.’
Statements & Reports
The China Institutes of Contemporary International Relations (CICIR) stated the same as reported by the South China Morning Post (SCMP), “There might be regulatory gaps in areas such as anti-money-laundering, sanctions, financial supervision, and intellectual property rights protection, and this will drive the international community to explore cooperation.“
Last month, the state-owned media outlet, Security Times also cautioned against investing in the concept, which is still in its infancy. “Investment is not a virtual game. Blindly investing into such grand and illusionary concepts such as the metaverse may ultimately come back to hurt your pockets.”
The Wall Street reports on Wednesday stated that there were more than 400 companies in China registered trademarks for items related to the artificial intelligence game. According to their statement, “It’s a race to the forefront of the space, which Bloomberg Intelligence estimates could be worth $800 billion by 2024“.
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The reason for this less enthusiasm shown by the Chinese is because of the October research note where the state-run think tank China Institutes of Contemporary International Relations, which is affiliated with China’s Ministry of State Security, warned of national security issues linked to the metaverse. Being a country that strongly sticks to the rules and regulations put forth, these terms of conduct between meta-universe and search engine Baidu is surely a sight to look upon.
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