(Yicai Global) July 20 -- A unit under the Chinese Athletic Association and game publisher Shunwang Technology are linking arms to develop physical exercise-themed metaverse spaces for the sports-loving public.

Shunwang and the CAA’s commercial development platform China Athletics Sports are teaming up on sport digital copyrights, sports metaverse and other areas, the Hangzhou, eastern Zhejiang province-based firm said yesterday.

China Athletics will provide the digital copyright to sports content and Shunwang will supply technical support in the form of Big Data, cloud computing, blockchain, visual design, smart algorithms, network security and other aspects, according to the deal signed by the two parties.

The pair will develop a sports-themed metaverse, virtual characters, mobile games and online virtual matches as well as e-exhibitions, digital collection trading and virtual performances, Shunwang said. They will jointly develop and operate the projects, it added.

Should the initial cooperation go well, Shunwang plans to invest at least CNY100 million (USD14.8 million) in China Athletics, it said.

The two parties will also build a digital sports platform to better provide third-party partners and the public with sports and sport business related content, it added.

Shunwang's share price [SHE:300113] closed down 5 percent today at CNY15.19 (USD2.25). Earlier in the day though it had hit CNY16.40, a six-month high. In the past month the stock has gained 38 percent in value.

Editor: Kim Taylor