Popular Web Services provider, Yahoo is looking to venture into the highly popular NFT and Metaverse industry. The company is planning to do so via a series of Metaverse and NFT-related activities in Hong Kong.
Yahoo stated that they will host a series of virtual events and concerts for Hong Kong residents. The Internet media giant stated that they will host these events on the Decentraland metaverse.
Lorraine Cheung, head of audience of Yahoo Hong Kong said that her company looks at metaverse as an attractive alternative for Hong Kong residents looking to engage in social activities. As of now, Hong Kong is reeling from the outbreak of COVID-19. Due to this, only individuals with a negative COVID-19 test can enter all public venues such as bars and restaurants.
Besides launching events, Yahoo will also launch an NFT exhibition called The Abyss of Kwun Tong. At the event, local artists virtually recreate the historic neighborhood of Kwun Tong.
Leung Ching-Hsuan, a creative producer said that the NFT exhibition will “retain humanity using technology”.
However, Yahoo is not the only company making inroads in the Metaverse concept. Social-media giant Meta is looking to work alongside local businesses and organizations to create ‘“first-hand” metaverse experiences.
Besides this, JPMorgan, the largest bank in the US, had released a report about metaverse being called “one trillion-dollar opportunity”. Also, JPMorgan opened their own virtual headquarters in the Decentraland metaverse.
Due to such an onslaught of launches on Decentraland, its native token MANA saw a price rally. As of writing, MANA trades at $0.84 with a 24-hour price change of +3.17%.