2022 Meta Expo Singapore Web3 Summit: Blockchain Community is Here

Metaverse is widely sought after by capital & has become a heated technology concept across the planet, attracting countless attention from both the technology industry and the capital market. Statistics show that over the first five months of 2022, more than $120 billion worth of capital had been invested in building metaverse technology and infrastructure, this figure is more than double the $57 billion invested in 2021alone. 

In June, Mckinsey published a metaverse report titled: Value Creation in the Metaverse). according to the report, by 2030, the virtual world would reach $5 trillion dollars in value while it conducted a survey of more than 400 senior leaders and concluded that more than 95% of those business leaders believed that metaverse will have a positive impact on their industry for the next 5-10 years. 

Meta is called meta in the computer field while verse is the abbreviation of the universe. Metaverse is meant to explore the next stage of the internet, it is a continuously shared virtual space supported by AR, VR, 3D & other technologies. It is also known as the third generation of internet technology. 

Metaverse is a new internet application and social form that integrates a variety of new technologies, providing an immersive experience based on extended reality technology, as well as generating a mirror of the real world with digital twin technology. 

With an economic system built upon blockchain, the virtual world finally integrates with the real world in terms of the economic system, social system, and identity system, allowing each user to create and edit their content.  

This concept was traced back all the way back to a novel named “Snow Crash” published by American science fiction writer Neal Stevenson in 1992. In 2021, this metaverse concept went viral as Facebook, Tencent, and ByteDance poured into this sector one after another with the ambition of being the bellwether. 

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