Imagine purchasing a plot of land, setting up your own shop and then selling just about any item or service you can think of to a flock of eager buyers from around the world. But here, each customer is represented by a three-dimensional avatar, every transaction takes place using cryptocurrency, and the outlet itself doesn’t exactly come with monthly utility bills.
This scenario takes place in virtual world the metaverse, which allows people to use an avatar to freely roam around a three-dimensional environment, purchase items and property, interact with other avatars and attend events—all in real-time. The potential for growth, however, is anything but virtual. According to a study by a March 2022 Citigroup study, the metaverse economy could be worth up to US$13 trillion and boast as many as five billion users by 2030.
The hype surrounding the metaverse has mushroomed over the past two years, with celebrities and large companies investing in virtual land with the hope that its value will increase over time. The Hong Kong office of Big Four accounting firm PwC, for example, acquired land in The Sandbox, one of many virtual worlds, back in December 2021 as a way to provide advisory services to clients; while in February, JP Morgan became the first bank to own metaverse land.
GIVING DIGITAL ASSETS VALUE
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Denne historien er fra Jan 2023-utgaven av Tatler Singapore.
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Mathew Leong
As the Norway-based Singaporean chef celebrates a milestone year both personally and professionally, he opens up about the toughest moments of his career and why failing is not an option
Asian Inspirations
Chef Ace Tan on his second restaurant, Asu-his love letter to regional Asian cuisine
State of the Arts
Arts nominated member of parliament Usha Chandradas discusses growing the creative economy by focusing on both supply and demand
Through a Curator's Lens
Circe Henestrosa, a fashion curator and the head of the School of Fashion at Lasalle College of the Arts, University of the Arts Singapore, merges her personal connection with artist Frida Kahlo with her extensive curatorial experience to explore intersecting themes of identity, disability and cultural heritage
Second Nature
Poet and educator Yong Shu Hoong brings fresh perspectives to the helm of the Singapore Writers Festival, from interdisciplinary perspectives to multilingual programmes
Wine Down
Nothing wraps up the day like a nice glass of vino. From flashy hedonistic escapades to geeky watering holes, these new wine bars promise celebrated viniferous pours that will please even the most discerning of oenophiles
A Legacy in Silhouettes
Kristina Blahnik, CEO of the designer shoe brand Manolo Blahnik and the niece of its legendary founder, shares her insights on preserving the house's heritage and introduces the new Manolo's Silhouettes campaign
To Have and to Hold
With its sumptuous textures, Loro Piana's elegant autumn/winter 2024 collection is a chic celebration of craft, quality and the universal appeal of tactility
Scent of Strength
Hermès unveils its first chypre perfume, Barénia―a captivating fragrance crafted by renowned perfumer Christine Nagel that embodies bold femininity and celebrates the brand's rich heritage
Nocturnal Revival
Nighttime skincare rituals will get a boost of supercharged restoration with La Mer's new Rejuvenating Night Cream
