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Meta will run virtual reality (VR) and augmented reality (AR) experiences in Hong Kong to showcase how the metaverse can be used in daily life.
The company, formerly known as Facebook, is planning to promote its metaverse products in cafes and schools, according to the South Morning China Post. Meta wants to offer first-hand experiences of its metaverse products, something that it has increasingly been doing in the past few months.
The tech firm will partner with cafes, schools, and art institutions to showcase what is capable within the metaverse in daily lives. Specific examples of the experiences under consideration include VR exhibitions at local cafes and AR training workshops for educators and students in schools.
Meta will also work non-fungible tokens (NFTs) into the experiment by allowing local creators to share their creations on Instagram. The company is devoting energy toward NFT integration with the popular photo-sharing app and is working on several strategies.
Hong Kong is quickly emerging as one of the hotbeds for NFT experiences and testing. Its tech-savvy population makes it a good place to test the technology and implement new strategies.
Meta bid to be the best
Meta is quickly becoming a metaverse-first company. Mark Zuckerberg has said as much, even revealing some other technological developments, like the ability to shape the metaverse through voice. Much of this is still in the early stages, and it has cost the company billions.
However, some of the most prominent individuals in the world have dismissed the potential of NFTs. Bill Gates said NFTs were associated with the greater fool theory – some of his harshest criticism yet.
The metaverse is a long-term bet, and Zuckerberg and Meta are hoping that they can come out on top when the metaverse becomes more viable in the latter part of the decade. The metaverse is estimated to be worth over $600 billion by 2030.
There will be stiff competition, as Microsoft is also working on similar initiatives