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.
Yahoo will also launch a 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.
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.
