Baidu, a massive Chinese technology and internet giant, is constructing its own metaverse. What will they be able to provide that others will not be able to in their metaverses? Visit here for more trending crypto news.
Baidu is one of China’s (and the world’s) largest internet corporations, with a market capitalization of more than $100 billion. They are experts in search and artificial intelligence. Baidu is China’s version of Google. In addition, they are constructing a metaverse. What exactly are they building, and how will they set themselves apart from the competition?
The fact that Baidu is a massive technology business should provide it numerous inherent advantages when it comes to developing its virtual worlds. As with Meta and Facebook, they may attempt to perform everything discreetly, or they may have a mix of both public and private functionality. Whatever the case, one thing is certain: it will be massive! Its name is XiRang, and it comes from the Chinese character for dragon.
However, despite the fact that the Chinese government has begun to issue its own NFTs, the situation is still a little too murky for a business like Baidu to take a chance and offer to assist them. NFT assistance will be unavailable for the time being despite the development of digital infrastructure, the organization of a developer conference, and the use of open-source software.
No Digital Currencies
China has banned cryptocurrencies, and the Baidu metaverse will not support any digital currencies in accordance with this regulation. This maintains them on good terms with the CCP, but we’ll have to wait and see whether they decide to allow a CBDC based in China to operate in their metaverse. Our prediction is that they will. Eventually.
Time Frame Build
Baidu estimates that it will take six full years to complete the development of their metaverse as of now. They began in December 2020, which means they would be in operation for another 5 years despite the fact that the initial app is now available. Surprisingly, Baidu has stated that they intend to develop a completely open-source platform to serve as digital infrastructure for metaverses in the future. We believe this indicates they will create a metaverse-as-a-service that will be CCP compliant, which most likely will be the first of its kind
Given how intrusive the Chinese government is, it would be wise for other Chinese enterprises to take advantage of Baidu’s compliance and then develop their own online places.
Baidu Practice Activity
Although Baidu is not a cryptocurrency, it is a massive company that conducts business in Hong Kong. Its ticker symbol is HK:9888, and it is presently trading at 139.10 HKD ($18) a share, with a market capitalization of $319 billion USD. Its symbol is HK:9888. The HKD has lost 44 percent of its value during the last year, compared to its one-year high of 256 Hong Kong dollars.