Yahoo has revealed plans to launch Metaverse services in Hong Kong, apparently triggering a slight uptick for Decentraland (MANA).
Yahoo has declared several non-fungible token and Metaverse-associated activities in Hong Kong. That’s one day after Meta Network revealed its Metaverse campaigns for the area.
Yahoo is an internet media firm based in the United States. Meanwhile, the company declared multiple virtual concerts and events for Hong Kong citizens within the Decentraland network.
Yahoo Hong Kong audience leader Lorraine Cheung stated that the company views the Metaverse technology as an impressive alternative for individuals interested in social activities as HONG Kong remains under pandemic restrictions.
The country issued a mandate requiring a negative COVID test for anyone entering public venues, including restaurants and bars. The move began on 9 June. Cheung hopes the Metaverse connects individuals despite physical location and time.
Moreover, Yahoo will launch the “Abyss of Kwun Tong” NFT exhibition. That would have local artists digitally recreating Kwun Tong, a historic neighborhood experiencing massive redevelopment impact. Leung Ching-Hsuan, a creative producer, stated that the NFT exhibition aims to use technology to retain humanity.
The leading social media platform Meta revealed plans to collaborate with local organizations and businesses such as art galleries, schools, and cafes to ensure ‘first-hand’ experiences for residents in the Metaverse. Meta disclosed the strategy on Tuesday.
Meanwhile, most companies are adopting Metaverse. This week’s financial report from the international consulting company McKinsey sees Metaverse-associated spending worth approximately $5 trillion come 2030.
Early in 2022, the leading United States bank JPMorgan made headlines after releasing the ‘Metaverse Technology’ report. It called the industry a ‘1 trillion-dollar opportunity.’ Moreover, JPMorgan launched its digital headquarters within the Decentral space.
The reports propelled MANA high as the crypto space paused the latest downside spiral. While publishing this content, the Metaverse token traded at $0.8343, gaining 7.90% within the past 24 hours.
Also, the global cryptocurrency market capitalization noted a brief revival, though staying below the $1T mark. While writing this news, the cumulative value of all digital assets stood at $910.78 billion, surging 5.72% over the previous 24 hours.
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