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 unit, called Facebook Agile Silicon Team, or FAST, develops custom chips for Meta’s AR and VR devices
  • Meta has struggled to make chips that can compete with silicon produced by external providers, such as 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.

Chapter 18C, the biggest addition to the HKEX’s listing rules since April 2018, was the result of a two-month public consultation to find a new growth engine for the world’s fourth-largest capital market.

The move is part of a restructuring that will see the firm not fill 5,000 openings, kill off low-priority projects and ‘flatten’ layers of middle management.


The blockchain gaming giant plans to put tens of millions of dollars into the region, starting with a partnership with Saudi Arabia’s Manga Productions.


After garnering two million downloads within two weeks of its launch, Bondee, Singapore’s home-grown avatar-based app, has now quickly fallen off the charts.


After a year-long battle, Hermès won its case against digital artist Mason Rothschild over his MetaBirkin NFTs – here’s what you need to know about the history-making case

After TikTok’s overwhelming success in the social media world, virtual reality has become the next battlefield for Chinese firm ByteDance and Facebook’s parent company Meta.

Readers discuss why the metaverse has to be better understood, propose an elegant solution to Hong Kong’s tunnel traffic problem, and consider the economics of sanctions.

Companies are using haptics vests and other next-generation simulation products to replicate the feeling of action in virtual worlds for video gamers.