China Mobile launches Metaverse industry alliance with Huawei and Xiaomi

 

China Mobile Launches Metaverse Industry Alliance, involving Tech Giants like Huawei and Xiaomi. On June 28, 2023, in Shanghai, China Mobile announced the formal establishment of the China Mobile Metaverse Industry Alliance during the Mobile World Congress (MWC) Shanghai 2023.

The China Mobile Metaverse Industry partnership, a collaboration of  24 companies, including Huawei, HTC, Xiaomi, iFlytek, Mango TV, and Unity China. Huawei, a Metaverse Alliance member, stated last year that the metaverse was a trillion-dollar opportunity. According to Huawei, the metaverse represents an outstanding opportunity for connectivity-related businesses.  The collaboration is also backed by one of China's top telecommunications companies and intends to strengthen the metaverse ecosystem to enhance the digital economy.

The alliance intends to stimulate collaboration, resource sharing, and cooperative development in the areas of metaverse content production, XR devices, Ar/Vr technology, and computing network.

China Mobile also announced a funding plan that includes one fund and four support measures to help the metaverse industry partnership run more efficiently. The "Metaverse Investment Promotion Centre" will be established as part of the China Mobile and Creation Fund, providing financial services to alliance members as well as support to outstanding metaverse initiatives, technologies, and businesses.

Furthermore, China Mobile pioneered the development of the first domestic XR device interconnection standard, GSXR, with the goal of guiding the growth of the XR industry and promoting the development of metaverse industry standards.

Recognizing the metaverse as a significant stream for the digital economy and Virtual China construction, China Mobile intends for the alliance to further the concept of standard co-construction, resource sharing, and partnership development for mutually advantageous growth in the world of digital commerce.

China Mobile is an active participant in revolutionary developments such as blockchain, Metaverse, and Web 3.0. China Mobile International established the Hong Kong Web 3.0 Institute in April with the goal of increasing Hong Kong's prominence as a crucial center for Web 3.0 and Metaverse development. Thus, the metaverse ecosystem is expanding at the moment and assures steady next-level growth on a global scale for a better future.