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Will NFT, metaverse developments in Hong Kong help deliver the city’s next ‘Octopus moment’ in a post-pandemic world?

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Launched in September 1997, the Octopus card quickly became a symbol of Hong Kong’s ability to foster innovative technology. Nearly 25 years later, digital-first enterprises focused on NFT and metaverse projects may be in a position to deliver the city’s next ‘Octopus moment’.

and release a limited amount of NFTs.

“Hong Kong’s tech sector operates on two levels,” Haswell said. “There’s the flashy new tech, such as NFTs and the metaverse, which are seeing plenty of new investments, and there are the innovators working to change the way we do business, protect our health and live our lives.” The heightened interest in NFTs and the metaverse has already made the space fertile ground for fraud and scams, with victims having little recourse because regulators have been slow to catch up with rapid market developments.key security threats to look out for this year

The investment frenzy has already supercharged criminal activity in that space. The total value of cryptocurrencies scammed by illicit online addresses viaSecurities and Futures Commission

 

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