Yahoo, an American online media business, has announced that its Hong Kong branch has embarked on a plethora of Metaverse events and activities in Hong Kong to evaluate the usage of interactive advertising technology and promote Metaverse-based relationships between individuals. Yahoo said that it would offer a number of immersive events and concerts in the Decentraland Metaverse for Hong Kong residents.
This happened shortly after the owner of Facebook, Meta Platforms, announced identical aspirations. Yahoo’s week-long experiment concludes on June 19 and covers the latest in sporting events, entertainment, and cultural influences to bridge the gap between the real and Metaverse and provide consumers with a distinctive Metaverse experience.
Yahoo’s Metaverse reconstructs a three-story, multipurpose environment with pubs, NFT exhibitions, sports facilities, and rooftops to bear a resemblance to Hong Kong’s one of the most recognizable visual components, such as neon signs and skyscrapers. The business asked Taiwanese artist and designer Prince Chiu to demonstrate his basketball talents on the dedicated basketball court in Yahoo’s Metaverse while donning a uniform made by Andy Gellengberg, a German designer.
Metaverse To Bridge Social Gaps Amid Restrictions
As per Lorraine Cheung, head of the audience at Yahoo Hong Kong, the business views the Metaverse as an appealing alternative for Hong Kong residents seeking fun interactions while pandemic prohibitions remain in effect.
On Thursday of the previous week, a countrywide decree went into effect requiring a negative Covid test to access any public places, including restaurants and bars. Lorraine Cheung mentioned that Yahoo intends to be using the Metaverse to link individuals irrespective of time or location.
On June 17, Yahoo will welcome four members of Hong Kong’s native female group After Class to appear on the simulated rooftop as virtual avatars, while everybody else below will be wrapped in neon lights. According to the firm, Yahoo Metaverse, which blends sporting events, entertainment, and cultural influences, will become a meta-universe landmark.
In addition, the organization intends to host virtual events and shows on the renowned Metaverse network Decentraland, including local idol bands and musicians. It also intends to issue a limited number of NFTs.
Traditional & Futuristic NFT Exhibition
In addition to evoking recollections of Hong Kong’s nightlife, Yahoo’s Metaverse also references the Kwun Tong District. This district has seen continual rebuilding and transformation for many years. The corporation collaborated with four visual designers to organize the NFT art exhibition “Recreating Kwun Tong” on the idea of the Kwun Tong District, which is rich in city features and traditions.
SiUKINS, Bread Poon, Au Yeung Chun Hee, and Stirring Light have individually created a collection of unique and innovative NFT artworks depicting numerous Kwun Tong legends and presented them at the exhibition on the very first level of Yahoo’s Metaverse. Through their efforts, they want to assemble a set of combined memories of Kwun Tong.
This exhibition will include the virtual recreation by local artists of the massively redeveloped heritage area of Kwun Tong. The purpose of the NFT event, according to Creative Producer Leung Ching-Hsuan, has been to preserve humanity through innovation.
Big Corporations Exploring The Metaverse
Recently, Meta, the primary corporation of Facebook, Whatsapp, and Instagram, said that it would launch a host of new Metaverse projects in Hong Kong, allowing Hongkongers to comprehend the possibilities of the Metaverse throughout sectors. According to an announcement, Meta’s Hong Kong Metaverse strategy includes virtual reality (VR) events and exhibitions in local eateries and public areas.
JPMorgan, the biggest bank in the United States, made news earlier this year when it released a report describing Metaverse innovation as a “one trillion-dollar opportunity” and when it opened its own virtual offices in the Decentraland Metaverse.
McKinsey, an international consulting organization, released a report this week projecting that by 2030, investment related to the Metaverse will reach about $5 trillion. Consequently, major corporations are progressively adopting the Metaverse.
