Yahoo announced a number of Metaverse- and NFT-related activities for Hong Kong just days after Meta Platforms had presented its own plans for the region.
Yahoo, an American-based internet media company, announced that it will host a series virtual events and concerts for Hong Kong residents living in the Decentraland metaverse.
Lorraine Cheung, Yahoo Hong Kong’s head of audience, said that the company views the Metaverse as an attractive option for Hong Kong residents who want to participate in social activities, even though pandemic restrictions are still in place. A nation-wide mandate was issued last Thursday requiring that all public venues, such as bars and restaurants, must be subject to a negative Covid test.
“We hope to use Metaverse to connect people, regardless of their time or physical location.”
Yahoo will also launch The Abyss Of Kwun Tong (a non-fungible token NFT exhibition), which will see local artists recreate the historic district of Kwun Tong that has been greatly impacted by redevelopment.
Leung Chinghsuan, Creative Producer, stated that the NFT Exhibition’s goal was to “retain humankind using technology.”
Meta, the social media giant, presented Tuesday a strategy to collaborate with local businesses and organizations, such as schools, cafes, and art galleries, to create “first-hand” Metaverse experience for residents.
With McKinsey, an international consulting firm, predicting that Metaverse-related expenditures could reach nearly $5 trillion by 2030, major companies are more open to the Metaverse.
JPMorgan, America’s largest bank, released a report titled Metaverse technology as a “one-trillion-dollar opportunity” earlier this year. They also opened their virtual headquarters in Decentraland metaverse.
Related to 71% high-net-worth individuals have made investments in digital assets. Survey
According to CoinMarketCap data, Decentraland’s MA token rallied today and gained a little more than 14% over the past 24 hours.