Metaverse development based on blockchain technology and NFT in 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.