Changing crypto landscape puts metaverse and Web3 under scanner in China

A child wearing a VR headset learns to escape from fire on November 12, 2022 in Nanchang, Jiangxi Province of China.

Synopsis

Amid intensified regulatory scrutiny on crypto transactions, Chinese startups are facing difficulty in developing the audience and market for metaverse and Web3. Companies investing in both metaverse and Web3 projects have many challenges to overcome. These include financial risks such as money laundering, tax compliance, intellectual property rights violations, and illegal fundraising.

Guo Yingzhe and Guan CongMetaverse and web3 have become buzzwords in the global tech industry over the past two years as they are believed to be integral parts of the next generation of the internet.Tech firms and entrepreneurs across the world have been scrambling to start businesses to tap the opportunities, attracting huge investment from private equity and venture capital funds to institutional investors and tech giants.Metaverse is a

BY

Caixin Global

Dec 27, 2022, 05:00 AM IST

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