Teenagers playing games using virtual reality goggles. Photo: Shutterstock



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.

  • The Web3 video gaming unicorn has signed an MOU with Saudi Arabia’s state-backed research centre
  • Animoca is betting on a growing consumer market for Web3 gaming in Saudi Arabia owing to high revenues per user

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.

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.


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.

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


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.

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

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

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.


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

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.

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.

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.

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


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.

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

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.


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.

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.


Ma Jie, the head of metaverse operations at Chinese search engine giant Baidu, has left the company after it switched its focus to generative artificial intelligence (AI), the technology behind ChatGPT.

The metaverse could contribute as much as US$760 billion to US GDP, according to the report from Deloitte and commissioned by Facebook owner Meta Platforms.

At Hong Kong’s Web3 Festival, Financial Secretary Paul Chan says financial system must be protected in Web3, while SFC official says DeFi platforms may require a licence.

There is growing speculation about Apple committing to develop VR or AR goggles, but after Meta’s false start in the metaverse and Google dropping Google Glass, experts wonder if the timing is right.

Hong Kong University of Science and Technology and Hong Kong Design Institute have bought land and are planning virtual experiences in The Sandbox.


Richard Hobbs, CEO of a Hong Kong metaverse fashion studio, got hooked on skateboarding as a kid. His first copy of the sport’s ‘bible’, Skateboarder magazine, taught him things that helped his business career.

Nick Clegg, head of global affairs for Meta Platforms, took to the metaverse on Wednesday to insist that the future of computing will take place on that still not-quite-yet-defined virtual world.