Metaverse center to be constructed on Fuxing Island
A signing ceremony for 50 enterprise projects to be developed in Yangpu District took place on Wednesday.
A leading virtual-reality innovation startup is to establish a metaverse center on Shanghai's Fuxing Island as part of Yangpu District's major technological initiatives for 2024.
Altstory, a Beijing-based enterprise specializing in the creation of interactive dramas, movies and variety shows, will set up the virtual-reality integrated metaverse sports experience center on the island, the Yangpu government said.
The 1.2-square-kilometer island, noted for its history and scenery, is designated as "strategic reserved land" in the city's master plan, restricting major development.
Fuxing Island Park, opened in 1951, is a key tourist spot, featuring the historic White Cottage, where former Kuomintang leader Chiang Kai-shek stayed in 1949 before retreating to Taiwan Island.
Yangpu's major project signing and construction ceremony was held on Wednesday, with a total investment exceeding 40 billion yuan (US$5.6 billion). The ceremony featured the signing of 50 enterprise projects, including Altstory's.
The projects span seven key industries – the online new economy, creative design, smart manufacturing, artificial intelligence, life and health, green low-carbon and technology services.
Other notable projects include the Shanghai innovation base by Zhangzhou Pientzehuang Pharmaceutical Ltd.
Yangpu is accelerating the construction of major projects, boosting the regional economy while promoting high-quality urban renewal and infrastructure development. It aims to enhance urban quality and resilience to benefit more residents, the district government said.
