China’s Zhengzhou offers lucrative incentives for metaverse innovators

Trained AI Editor

Zhengzhou, one of the largest cities in China, is embracing the development of the metaverse—a 3-D virtual world—by offering attractive incentives to innovators. According to local government officials, the city has implemented a range of tax cuts and preferential policies to support the development of the metaverse industry, such as offering tax breaks on software development, providing funds for research and development, and providing subsidies for the purchase of virtual reality hardware. The city is also providing subsidies for incubators and accelerators to encourage innovation in the metaverse industry. The city of Zhengzhou is hoping that these incentives will encourage more innovators to develop the metaverse in the region.