Yahoo Announce a Hong Kong-based Metaverse Project 

Yahoo has just launched a metaverse experience in Decentraland for Hong Kong residents


The California-based startup expects that these new metaverse options will allow Hong Kong residents to maintain their social lives while adhering to COVID-19 rules. 

As of June 9th, Hong Kong officials only let those with negative COVID-19 test results enter public venues such as nightclubs. Yahoo thinks that the Metaverse may assist quarantined persons in maintaining contact with loved ones. 

Yahoo is establishing an NFT gallery with participation from Hong Kong artists, in addition to sponsoring metaverse music concerts in Decentraland. This virtual museum, dubbed “The Abyss of Kwun Tong,” will include NFTs created by Hong Kong’s Kwun Tong area. 

Lorraine Cheung, a Yahoo executive, states that the fundamental objective of these new metaverse events is to “connect individuals regardless of time or place.” However, Cheung also said that Yahoo was excited about the potential for advertising tied to the Metaverse. 

Although this Decentraland experience is Yahoo’s first foray into the Metaverse, the corporation has familiarity with Web3 technology. For example, Yahoo’s Taiwan subsidiary has created a regulated NFT market with the assistance of Blocto this spring. 

Also Read, Google cloud’s Web3 division

Hong Kong will become part of the Metaverse 

A few days prior to Yahoo’s announcement of its Decentraland experience, Facebook’s Meta unveiled ambitious intentions to introduce metaverse technology to Hong Kong. According to the South China Morning Post, locals will be able to try out Meta’s virtual reality (VR) Quest 2 headgear in public settings such as the Central Market this summer. 

Check out, Meta teams up with polygon for Web3

In addition to showcasing its VR technology, Meta staff will work closely with Hong Kong companies and schools. Meta believes that these relationships will assist educators and business owners in learning how to use the Metaverse in their particular sectors. It looks Meta will also teach Hong Kong schoolchildren about augmented reality technologies. 

Not just Meta wants to introduce the Metaverse to Hong Kong. Animoca Brands has created a number of notable partnerships with Hong Kong personalities and corporations. Notably, Animoca Brands is creating a Hong Kong-inspired neighborhood named “Mega City” in The Sandbox, its most popular metaverse game

Even conventional financial institutions recognize Hong Kong as a prominent metaverse investment center. HSBC, for instance, recently announced a metaverse-focused fund that will exclusively take cash from Hong Kong and Singapore investors. 

Hong Kong is positioned similarly to neighboring South Korea to become one of Asia’s metaverse leaders. 

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