China: Baidu registers Metaverse trademark, Xi’rang

Namrata Shukla
China: Baidu registers Metaverse trademark, Xi’rang

China was trying to bar cryptocurrencies but now it has a Metaverse of problems. The authorities in the country have been trying to keep the Metaverse expansion outside China but have remained unsuccessful. Meanwhile its leading search engine, Baidu has reportedly registered its metaverse trademark and shared a peek into its Metaverse, Xi’rang.

8BTCnews tweeted Monday,

Baidu was not the only Chinese company to follow the Metaverse trend, but also saw Alibaba, TENCENT, and NetEase apply for metaverse trademarks. It was clear that the Metaverse is going to change things which is why the Chinese government was looking to extend its crypto ban to the metaverse.

In fact, just last week the Chinese state media issued a warning against the metaverse and cloud mining scams while calling out misuse of Metaverse terms by scammers to trap people.

Although Metaverse is deemed to be the ‘next big thing’ there has been confusion about its function and experience. As per Grayscale research, despite this confusion, the number of Metaverse users rose by 10X in just one and a half years. At this rate, it could likely become a trillion-dollar industry by 2022.

Adding to it, the research also noted that the Metaverse had the potential to become the key to Web 3.0. It stated,

“The Web 2.0 mobile internet changed how, where, when, and why we used the internet. In turn, this changed the products, services, and companies we used, which changed our business models, culture, and politics – the Web 3.0 Metaverse has the potential to do the same.”

As Metaverse expands, China‘s dismissal to adopt the technology could be a problem for the authorities and the citizens. As we know by now, anything on the internet can hardly be contained.