Tech giants in China are feeling pressured to assert their presence in global discussions about the metaverse to avoid losing out to Western peers despite caution from authorities, analysts said.
On Wednesday, video streaming and gaming platform Bilibili declared its readiness to develop the metaverse, joining Tencent Holdings and NetEase, respective owners of China’s first and second largest gaming business, to voice their enthusiasm for the emerging concept, loosely defined as a shared immersive 3D space where people can interact virtually.
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