Welcome to Francis Academic Press
Login | Register

Academic Journal of Business & Management, 2023, 5(25); doi: 10.25236/AJBM.2023.052524.

Metaverse development based on blockchain technology and NFT in China

Author(s)

Chang Xiaochang

Corresponding Author:
Chang Xiaochang
Affiliation(s)

Soochow University, Suzhou, Jiangsu, 215000, China

Abstract

In 2021, the concept of "meta-universe" has attracted a lot of attention worldwide. This paper discusses the significance of Blockchain-based Non-Fungible Token (NFT) for the development of China's metaverse industry. In addition, in the context of China's unique institutional environment, this chapter compares current Blockchain and NFT-related regulations and explains whether and how these regulations facilitate the development of China's digital economy. Finally, a case study will be conducted and a Citespace analysis will be performed to provide some recommendations. This chapter will highlight the importance of balancing governance and innovation to facilitate the application and value of emerging technologies in the development of China's metaverse ecosystem and Blockchain.

Keywords

Metaverse; Blockchain; NFT; China; digital economy

Cite This Paper

Chang Xiaochang. Metaverse development based on blockchain technology and NFT in China. Academic Journal of Business & Management (2023) Vol. 5, Issue 25: 160-165. https://doi.org/10.25236/AJBM.2023.052524.

References

[1] Chen, Y., Chen, C.M., Liu, Z.Y., Hu, Z.G., & Wang, X.W. (2015). The methodology function of citespace mapping knowledge domains, Studies of Science, 33 (2), p.242-253, DOI:10.16192/j.cnki. 1003-2053.2015.02.009

[2] Chen, Y. & Cheng H. (2022).The economics of the meta-universe: a comparison with the real economy, Research on Financial and Economic Issues, 1-21[2022-03-01]. Available at: http://kns.cnki. net /kcms/detail/21.1096. f.20220117. 1709.002.html

[3] Liu, S., & Guo, Z. (2022). The risks of NFT in the application of digital artwork market, Arts Management (English and Chinese). Available at: http://www.nmglib.com:8901/article/detail. aspx? id=00002EKG51807JP0MLDO8JP16BR

[4] Mystakidis, S. (2022). Metaverse. Encyclopedia, 2(1), 486-497.

[5] Kathleen, B.W, Adam, K., & Hadi, G. (2021). Prospecting non-fungible tokens in the digital economy: Stakeholders and ecosystem, risk and opportunity, Business Horizons, DOI: 10.1016/j.bushor. 2021.10.007

[6] Yu, P. S, Gong, R. X., & Sampat, M. (2021). Blockchain Technology in China’s Digital Economy: Balancing regulation and Innovation, Regulatory Aspects of Artificial Intelligence on Blockchain, pp132-156, DOI: 10.4018/978-1-7998-7927-5