BEIJING: Chinese tech giant Baidu on Monday took its first steps into the metaverse industry with the launch of a virtual reality app, looking to test the waters in what is considered by many to be the next phase in the internet’s evolution.

The Beijing-based company joins brands such as Nike and Ferrari in rushing to experiment with virtual goods against a backdrop of predictions that the metaverse could one day overtake and replace the web of today.

The firm, nicknamed the Chinese Google, held a conference inside the virtual world of its new app XiRang, which means “Land of Hope”.