Yahoo enters NFT and Metaverse world
According to a recent report by South China Morning Post, Yahoo is planning to host a series of virtual events and concerts in the Decentraland metaverse for residents of Hong Kong. Yahoo Hong Kong's head of audience, Lorraine Cheung, said that the company recognizes the potential of the metaverse world. He added that while pandemic limitations remain in place, Hong Kong residents may find Metaverse to be an appealing alternative for social activities.This week, Yahoo will reportedly introduce an NFT show called "The Abyss of Kwun Tong," where local artists will virtually recreate the ancient neighborhood of Kwun Tong, which has been significantly impacted by redevelopment. Cheung stated, "We hope to use the Metaverse to connect people regardless of time and physical location."
Leung Ching-Hsuan, the company's creative producer, said that the NFT exhibition aims to "retain humanity using technology." Notably, Yahoo's move comes just a day after the social media giant Meta revealed its plans to work with local businesses and organizations like cafes, restaurants, art galleries, and schools to bring "first-hand" experience to Hong Kong residents.
Metaverse craze
Metaverse has become a significant source of attraction for companies around the world. While the banking giant JPMorgan called Metaverse technology a "one-trillion dollar" industry, the global consulting firm McKinsey predicts metaverse-related spending to reach nearly $5 trillion in the next eight years. Moreover, a study by the API-providing company Agora also predicts that the Metaverse can become the "most popular" method for buying and selling digital assets in the coming years.Continue reading by joining Cryptonary Pro
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