Although China is one of the countries with the most restrictive policies in the cryptocurrency and NFT market, the Asian giant is a big fan of new technologies like the metaverse.
And so, even with NFT being banned on public chains in China, the nation has developed its own NFT platform, and now the same could happen with metaveso.
Baidu, one of the world’s largest search engines, has announced the launch of the first Metaverse platform as a service in China. The solution is the first in the world that allows the creation of an independent metaverse in less than 40 days.
The announcement was made at the Baidu AI Developer Conference held on Wednesday, 11th. The platform was called MetaStack and is a complete metaverse development platform, allowing developers to create a metaverse “for O”.
As explained by Baidu, the process is simple and similar to WordPress. In this way, the tool has pre-configured functions and tools that allow you to create your own metaverse. In addition to pre-configured widgets, developers can change icons and insert new items.
The company did not announce when the product will be commercially available. However, as with other company releases, it is expected to be available to Asian audiences in the first quarter of the year.
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The Metaverse has opened up many possibilities for new products, companies, investments and relationships. In light of this, companies, investors and financial institutions are already studying and running simulations to understand the potential benefits that may arise from this new environment.
As Capco pointed out, digital assets, trading goods, currencies, artwork, and team training are just a few examples of this innovation. However, to take advantage of all that is designed in this new business perspective, it is essential to avoid scams.
This important caveat and possible ways to address security challenges are found in the analysis “Metaverse: A Double-Edged Sword”. Analysis conducted by the company indicates that organizations need to be mindful of security in the metaverse.
Also according to the study, the market capitalization of the metaverse in 2020 was $48 billion and should be over $800 billion by 2028. Therefore, Capco highlights that preventing money laundering, micro-transactions, intellectual property abuse, and identity theft should be priorities.
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