“Investment is not a virtual game,” a commentary in state-run Chinese media said earlier this month, warning investors to avoid augmented and virtual reality “metaverse” products. Investors did not listen — Beijing-based Nreal, an augmented reality technology company, just completed a Series C funding round of over $100 million.
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Companies affiliated with the technology soared suddenly after the purchase, including Wondershare Technology, Wahlap Technology, Goertek, and Perfect World.
That raised the eyebrows of Chinese regulators, who have recently come down on financial speculation and adjacent sectors such as gaming. On September 9, a front-page commentary in the official state-run paper the Security Times(in Chinese) warned against investing in the metaverse because the products were still in their infancy.
See the full story here: https://supchina.com/2021/09/24/chinese-investors-pile-into-metaverse-despite-official-warnings/