Nanjing City, the capital of China's Jiangsu Province, has launched the "Blockchain Technology and Application Innovation Platform of China" to promote and enhance metaverse studies across the country. The entity aims to consolidate the resources of academic institutions and enterprises in China and bolster research efforts in areas related to the metaverse. Nanjing University of Information Science & Technology is spearheading the new state-backed entity, which includes a variety of academic institutions and blockchain-associated companies from across the mainland. Nanjing and Shanghai are among several Chinese cities vying for a leading role in the nation's metaverse evolution, with ambitious goals to establish a metaverse industry generating annual revenues exceeding billions of yuan by the end of 2025. Despite China's tough stance on cryptocurrencies and NFTs, the country recognizes the potential of Web3 technologies, including metaverse, as a catalyst for its digital economy.