Alibaba and Huawei Plan to Enter the Metaverse Market
Chinese online retailer Alibaba has registered its subsidiary Yuanjing Shengsheng in Beijing, which will test the gaming potential of the metaverse, the newspaper South China Morning Post, owned by the corporation, reports.
The subsidiary is wholly owned by the investment arm of Alibaba. The registration details indicate it will be involved in software development and related services. The authorized capital of the enterprise amounts to $1.6 million.
Alibaba’s cloud gaming division has launched a new brand with the same name. According to the message, we are talking about a gaming platform. The corporation also said the structure will offer free computing resources to game developers for small and medium projects.
According to 8btc, another Chinese bigtech, Huawei, is also interested in the concept of the metaverse. The company has registered the trademark 元 OS (the hieroglyph 元 can be translated as “meta”).
According to SCMP, Baidu, Tencent and NetEase are also interested in the creation and development of virtual worlds.
