Yahoo Rolls Out Metaverse Events for Hong Kong Residents

US-based internet media company Yahoo has launched a series of metaverse events in Hong Kong. The firm announced this news on Wednesday, noting that this move seeks to connect the region’s residents amid fresh COVID restrictions. Per the announcement, this event will see Yahoo hold virtual concerts and exhibitions on Decentraland.

Decentraland is a popular metaverse platform that hosts the virtual worlds of several renowned companies. Examples include Samsung, Adidas, Atari, and PWC, to mention a few. Additionally, Decentraland hosted Metaverse Fashion Week, an event that attracted leading fashion brands like Dolce & Gabbana and Tommy Hilfiger.

According to Lorraine Cheung, the Head of Audience at Yahoo Hong Kong,

Yahoo Hong Kong has always been providing a wide range of online services that are relevant to people’s daily lives, including using the latest technology to improve and enhance the user experience.

Also, she added that the company hopes to use the metaverse to connect people despite their time and physical location differences. This event comes after Hong Kong reintroduced pandemic restrictions in the past week. Hong Kong residents now have to provide a negative COVID test to access all public venues. 

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An NFT Exhibition to Retain Humanity

On top of the metaverse events, Yahoo also plans to launch a non-fungible token (NFT) exhibition. Dubbed the Abyss of Kwun Tong, the exhibition will involve local artists recreating the iconic Kwun Tong neighborhood, which has been transformed by redevelopment projects.

According to Creative Producer Leung Ching-hsuan, the Abyss of Kwun Tong NFT exhibition seeks to retain humanity using technology.

This news comes on the heels of Meta, Facebook’s parent company, rolling out metaverse initiatives in Hong Kong. Meta said it would work with cafe chains, schools, and art institutions to offer unique metaverse experiences.

Through these initiatives, the company – which recently diverted its attention to the metaverse – seeks to test the potential of using the metaverse in daily life.

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As more mainstream companies continue embracing the metaverse, crypto tokens associated with the virtual world are seeing some gains. Decentraland’s MANA is up 12% in the day to trade at $0.85. The Sandbox (SAND) has gained 10.25% to hit $0.88. However, these gains are partially due to the crypto market trying to make a comeback after crashing this week.