China's biggest city Shanghai officially intends to boost the development of innovations such as blockchain, nonfungible tokens (NFTs), metaverse and Web3 in general during its next five-year plan.
On July 13, Shanghai's Municipal Government published the draft of its "14th Five-Year Plan for the Development of Shanghai's Digital Economy". A document sets the mission of "promoting the deep integration of digital technology and the real economy," with "scientists judging technology prospects" and "entrepreneurs discovering market demand".
The plan suggests supporting the enterprises that plan to construct the NFT trading platforms and "research and promote the digitization of NFT and other assets." A separate section is dedicated to blockchain, with a voiced commitment to promote the development and application of "blockchain+" technology and build a blockchain development ecosystem with strong innovation capabilities and independent control.
There is also a place for metaverse...
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