TOPIC

Metaverse

The metaverse is a conceptual next-generation version of the internet that consists of shared three-dimensional (3D) virtual worlds where people can interact, trade, play games and do more. The term was coined by the science-fiction writer Neal Stephenson in his 1992 novel Snow Crash, but a broader, multi-platform version of the concept gained widespread recognition in 2021 when Facebook changed its name to Meta.

last updated:

9 September, 2024

Alibaba

Alibaba cuts ‘dozens of employees’ at metaverse unit as sector’s hype cools down

The lay-offs affected Alibaba metaverse unit Yuanjing’s operations in Shanghai and Hangzhou, according to a report.

3 Nov 2024 - 7:00AMvideocam

VR and AR

Smart glasses, AI features to boost AR and VR headsets growth

17 Sep 2024 - 11:00AM

Blockchain

Web3 firm Animoca Brands trading for as little as a quarter of last valuation

14 Aug 2024 - 5:53PM

Artificial intelligence

Opinion | Does AI think we have already lost control of AI?

AI earnestly examines its navel and declares, on balance, in bullets, that we should just live with it

17 Jul 2024 - 8:45AM

Are we the frogs in an AI pan? AI ponders this and other questions. Photo: Bernard Cohen and Starryai

China's economic recovery

Humanoid robots, 6G on the horizon as China seeks to hop tech hurdles

China’s Ministry of Industry and Information Technology on Friday laid out a plan to make breakthroughs in emerging industries while preserving traditional manufacturing as a foundation.

6 Jul 2024 - 1:03AM

Blockchain

Hong Kong blockchain gaming firm Animoca weighing 2025-26 IPO, founder says

Animoca Brands co-founder Yat Siu said he hopes an IPO will bring ‘more attention to Web3’ and Asian markets, with a possible Hong Kong listing.

27 Jun 2024 - 6:00PM

Blockchain

Hong Kong’s Animoca Brands enters Saudi Arabia’s Web3 ground floor

The Web3 video gaming unicorn has signed an MOU with Saudi Arabia’s state-backed science park, months after a US$50 million investment in its Neom smart city.

24 Mar 2024 - 1:36AM

A game on Animoca Brands’ metaverse platform The Sandbox, where people can socialise, play games and attend concerts. Photo: The Sandbox

Semiconductors

ByteDance invests in chip firm InnoStar as VR unit Pico faces Apple’s Vision Pro

ByteDance’s latest semiconductor-related investment shows the lengths being taken by the company to overcome the impact of tighter US tech sanctions on mainland China.

14 Mar 2024 - 7:00PM

Technology

Opinion | When Sora meets VR, AI offers great rewards – and risks

OpenAI’s groundbreaking Sora, which generates video from text prompts, could offer never-before immersive experiences when combined with virtual reality – but could also boost misinformation and erode trust.

23 Feb 2024 - 7:30PMvideocam

VR and AR

Apple’s Vision Pro lifts the prospects for extended reality sector: Rokid CEO

Rokid chief executive Misa Zhu Mingming said Apple’s Vision Pro headset is expected to spur broader demand for more affordable and ergonomically designed AR and VR wearable devices.

15 Feb 2024 - 5:30PM

Rokid expects to double unit sales of its augmented reality glasses to around 400,000 this year, from nearly 200,000 in 2023. Photo: Handout

Digital currencies

Cryptocurrency unicorns Animoca Brands and HashKey agree to partnership

Under the deal, Animoca Brands will list its Sand cryptocurrency token on HashKey Exchange as the crypto firms gear up for a recovery in the battered virtual asset market.

23 Jan 2024 - 9:00PM

Cryptocurrency unicorns Animoca Brands and HashKey agree to partnership. Photo: Handout

China technology

China convenes Huawei, Tencent, Baidu to draft metaverse standards

The newly formed working group is tasked with building, maintaining and promoting metaverse industry standards, China’s technology regulator says.

20 Jan 2024 - 4:11PMvideocam

VR and AR

China augmented reality start-up Rokid gets US$70 million in new funding round

Rokid deal comes as Chinese authorities increasingly step up as private equity investors in projects in line with local development strategies.

10 Jan 2024 - 10:52PM

Singapore

‘Girl math’, MH370 jokes: Singapore’s biggest social media stories of 2023

Singapore may be small, but its capacity for online drama is surprisingly huge. Read on for the year’s biggest social media stories to set tongues wagging in the city state.

4 Jan 2024 - 2:40PM

Jocelyn Chia in a still from a TikTok video of her performance at a New York comedy club. Photo: TikTok/@ComedyCellarUSA

China technology

Beijing to draft national Web3 development plan amid strict cryptocurrency ban

China’s Ministry of Industry and Information Technology said a strategic Web3 development plan will be drafted ‘in line with the country’s conditions’.

21 Dec 2023 - 9:30PM

The Ministry of Industry and Information Technology’s proposed plan would represent China’s first national-level Web3 policy. Image: Shutterstock

Fame and celebrity

Meet 4Eve, the Thai pop girl group who could rival Blackpink

The T-pop girl group just gave a Metaverse concert in The Sandbox – and its members Jorin and Punch have modelled for Dior, Balenciaga and Tom Ford Beauty

1 Dec 2023 - 4:00PM

Russia

Russia puts Meta spokesman on wanted list

Andy Stone was added to the list on Sunday, Russian state new reported, weeks after Russian authorities in October classified Meta as a ‘terrorist and extremist’ organisation.

27 Nov 2023 - 10:47AMvideocam

NFTs

Bored Apes descend on Hong Kong amid NFT firm’s bet on Asia

The first ApeFest outside New York drew thousands of people from 60 countries, with support from the Hong Kong government, according to Yuga Labs.

8 Nov 2023 - 4:49PM

The ApeFest DJ poses at the end of his set on the main stage on November 4. Photo: Matt Haldane

Technology

Facebook owner to lay off employees in metaverse chip unit

The unit, called Facebook Agile Silicon Team, or FAST, develops custom chips for Meta’s AR and VR devices, which currently use silicon from external provider Qualcomm.

4 Oct 2023 - 12:00PM

Apple

Meta launches Quest 3 headset, just ahead of Apple’s Vision Pro

The Facebook owner has introduced its latest line-up of head-worn devices, staking fresh claim to the VR/AR industry just ahead of Apple pushing into the market.

28 Sep 2023 - 10:12AM

Video gaming

Genshin Impact creator miHoYo switches chairman role to another co-founder

The change in leadership at miHoYo comes at a time when the Shanghai-based firm has become the main challenger to Tencent Holdings and NetEase in the world’s largest video gaming market.

20 Sep 2023 - 9:10PM

VR and AR

Chinese start-up counts on Apple’s headset to unleash XR demand

With Apple on track to launch its Vision Pro headset next year, GDI thinks the world is ready to embrace VR and related technologies.

17 Sep 2023 - 9:00AMvideocam

An Apple Vision Pro mixed reality headset. Photo: Bloomberg

China technology

China wants up to 5 metaverse companies with ‘global influence’ by 2025

A new blueprint issued by five national Chinese agencies aims to develop the domestic metaverse for industrial use through technologies like blockchain and AI.

10 Sep 2023 - 7:01AMvideocam

VR and AR

Facebook owner Meta Platforms to lower minimum age for Quest VR user accounts

Meta Platforms said it will lower the minimum age for a Quest headset user account from 13 years old to 10 later this year, despite rising concerns about children spending too much time on social media.

17 Jun 2023 - 11:46AM

Fashion

LVMH joins forces with Epic Games to create virtual shows and fitting rooms

Gucci and Ralph Lauren have flocked to Roblox to launch digital fashion experiences, but Dior and Louis Vuitton’s parent company hopes to ply Gen Z too with its new metaverse strategy

15 Jun 2023 - 4:30PM

LVMH will partner with Epic Games to bring shoppers a new virtual style experience. Photo: Reuters

Digital currencies

Crypto founders optimistic about Beijing Web3 paper, link it with Hong Kong

Binance’s Zhao Changpeng, Huobi’s Justin Sun, and Animoca’s Yat Siu all touted the promising signs of Beijing’ ‘Internet 3.0’ white paper.

30 May 2023 - 12:00PMvideocam

Changpeng Zhao, co-founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and start-ups at Porte de Versailles exhibition centre in Paris on June 16, 2022. Photo: Reuters

Hong Kong economy

Letters | By embracing NFTs and metaverse, Hong Kong can remodel its global role

Readers discuss opportunities for the city to take the helm in the new tech landscape, and how the government can encourage use of its online identity authentication app.

30 May 2023 - 11:30AM

Digital currencies

Where does Hong Kong stand in the race to be Asia’s Web3 hub?

Revenue in the digital assets market is expected to grow at an annual rate of 16.1 per cent from 2023 to exceed US$102 billion by 2027, with almost a billion users tapping in.

23 May 2023 - 1:28PMvideocam

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