Yahoo launching Metaverse events for Hong Kong residents under restrictions

Yahoo has announced a series of Metaverse and NFT-related activities in Hong Kong, a day after Meta Platforms outlined its own metaverse plans for the region.

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

According to Lorraine Cheung, the head of audience at Yahoo Hong Kong, the company sees the Metaverse as an attractive alternative for Hong Kong residents looking to engage in social activities while pandemic restrictions remain in force. On Thursday last week, a nation-wide mandate was introduced requiring that a negative Covid test be provided to enter all public venues such bars and restaurants.

“We hope to use the Metaverse to connect people regardless of time and physical location.”

Yahoo will also launch a non-fungible token (NFT) exhibition called The Abyss of Kwun Tong, which will see local artists virtually recreate the historic neighborhood of Kwun Tong which has been heavily impacted by redevelopment.

Creative Producer Leung Ching-hsuan said that the goal of the NFT exhibition was to “retain humanity using technology.”

On Tuesday, the social-media giant Meta put forward a strategy to work alongside local businesses and organizations such as cafes, schools and art galleries to create ‘”first-hand” Metaverse experiences for residents.

Major companies are increasingly embracing the Metaverse with international consulting firm McKinsey releasing a report this week predicting that Metaverse-related spending could be worth nearly $5 trillion by 2030.

Earlier this year, JPMorgan, the largest bank in the United States, made headlines by releasing a report that called Metaverse technology a “one trillion-dollar opportunity”, alongside opening their own virtual headquarters in the Decentraland metaverse.

Related: 71% of high net worth individuals have invested in digital assets: Survey

Decentraland’s MANA token has rallied today, gaining a little over 14% in the last 24 hours according to data from CoinMarketCap.

All Dutch and English crypto news!

Central African Republic president launches crypto initiative following Bitcoin adoption

Faustin-Archange Touadéra, president of the Central African Republic, has announced the government will be backing an initiative centered around developing the country's blockchain infrastructure. In a...

‘Crypto is just like the end of the 90s with the internet bubble,’ says Hodl CEO Maurice Mureau

For Maurice Mureau, CEO of crypto investment fund operator Hodl, there's "not a lot left" to invest in anymore. With soaring inflation, bonds are no...

Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to...

Crypto exchange FTX is looking into acquiring Robinhood: Report

Cryptocurrency derivatives exchange FTX is reportedly eyeing a takeover of Robinhood Markets, the popular trading app that introduced millions of traders to Bitcoin (BTC), Ether...

Beste exchanges

Koop je crypto bij Bitvavo