whitePaper | October 4, 2022
The metaverse, roughly defined as 3-D virtual worlds that mimic the real world, has drawn much attention since late 2021. Certain well-known global firms, such as J.P. Morgan, HSBC, Standard Chartered (banking), Samsung (technology), Adidas (apparel) and PwC (consulting) have created a presence on the current metaverse platforms The Sandbox and Decentraland. Ever since Facebook’s announcement of its rebranding and name change to Meta in October 2021,2 the investment on metaverse has continued despite a contraction in the cryptocurrency market.
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