The Chinese city of Wuhan first announced its plans to support metaverse and NFTs to boost its economy ruined by the coronavirus breakout and the pandemic.
However, as Chinese regulations involving the exchange of tokens or digital collectibles and NFTs are unclear at the moment, the city has decided to omit its "NFT" plans.
The city of Wuhan will still continue its metaverse and web3 plans and aims to foster more than 200 metaverse companies and build at least two metaverse industrial estates by 2025.
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