1. Bilibili is testing its Blockchain platform UPowerchain

Bilibili, a highly concentrated cultural community and video platform for Generation Z in China, is testing its Blockchain platform UPowerchain. UPowerchain is a digital native community built for new applications, culture, games, and digital assets. It focuses on Metaverse and will support community governance in the future.

2. Alibaba established new company focusing on Metaverse

Alibaba established Yuanjing Shengsheng (Beijing) Technology Co., Ltd. on December 6 with a registered capital of 10 million yuan. According to Alibaba insiders, the company’s future business is related to Metaverse.

3. Baidu announced its Metaverse product XiRang

Chinese search engine giant Baidu announced that it will launch XiRang, a Metaverse product, on December 27, the same time as Baidu’s AI developer conference, which will be held on this platform. This is the first conference held in Metaverse in China, and can accommodate 100,000 people to interact with the screen at the same time.