Yahoo plans Metaverse series for Hong Kong residents

2022/07/29 23:48

Yahoo announced a series of Metaverse and NFT-related events in Hong Kong, and just a day earlier, the Meta platform outlined its plans for the Metaverse in the Hong Kong region.

US-based internet media company Yahoo has revealed that it will hold a series of virtual events and concerts for Hong Kong residents in the Decentraland metaverse.

Lorraine Cheung, head of audiences at Yahoo Hong Kong, said the company believes Metaverse is an attractive option for Hong Kong residents looking to engage in social activities during the pandemic restrictions.

"We want to use the Metaverse to connect people regardless of time or physical location."

Yahoo will also launch an NFT exhibit called The Abyss of Kwun Tong. In this exhibition, local artists will virtually recreate the historical district of Kwun Tong, which has been hit by reconstruction.

Creator Leung Ching-hsuan said that the purpose of the NFT exhibition is to "preserve humanity with technology."

On Tuesday, social media giant Meta unveiled a strategy to partner with local businesses and organisations, such as cafes, schools and art galleries, to create a "first-hand" experience of the Metaverse for residents.

International consulting firm McKinsey released a report this week predicting that spending related to the Metaverse could reach nearly $5 trillion by 2030.

Earlier this year, JPMorgan, the largest bank in the United States, made headlines when it released a report calling Metaverse technology a “trillion dollar opportunity” and opened its virtual headquarters in Decentraland’s Metaverse .

Decentraland’s MANA token rallied today, gaining just over 14 percent in the past 24 hours, according to data from CoinMarketCap.

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