The Metaverse: The Rise Of The Digital Universe

The metaverse has been on the minds of several practitioners, advisers, corporate strategists and central bankers. But, the Generation Z partici­pants – or zoomers as they are affectionately known as – are not thinking it – they are well into being it, living it and expanding the ever evolving Metaverse. So, if you have not heard about the Metaverse, it’s time for you to elegantly crawl out of your intellectual rock and start to understand the nuances and idiosyncrasies around this meta­morphosis surrounding the digital universe. All corporates and businesses need to start re-cal­ibrating their business strategies to cater for the zoomers – who by the way form the largest consumer base presently. And the zoomers will continue to dictate their terms of engagement with all consumer ecosystems, including with the big techs. We are in the zoomer’s realm and the development of their Metaverse epoch is inevi­table. In my mind, Ready Player One (and Two) in some form is already here. Continue reading “The Metaverse: The Rise Of The Digital Universe”

SPAC Listings

Special purpose acquisition companies (SPACs, or “blank check” companies), which are shell companies set up with the sole purpose of raising funds through an initial public offering (IPO) to acquire an existing target company, have seen a dramatic rise in the past year. High levels of liquidity and persistently low interest rates, coupled with a growing appetite among investors for higher-yielding investment opportunities, have fuelled the rising interest in SPACs. According to resource website SpacInsider, which tracks these investment vehicles, 248 SPAC IPOs were completed in the last year alone, raising US$83 billion, compared with 216 from 2009 to 2019. This article discusses the features of SPACs, its benefits and risks, trends in Asia as well as the future for SPACs in Singapore.

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Non-fungible tokens – the rising trend in the world of cryptocurrency?

Non-fungible tokens (“NFTs”), a type of digital asset, are the latest crypto talk in town. On 19 February 2021, the NFT featuring the iconic Nyan Cat meme was sold for US$590,000. Barely three weeks later, the world’s most expensive digital art and the most expensive NFT – Mike Winkelmann’s digital art piece “Everydays: The First 5000 Days” – was sold for US$69.3 million, becoming the third-highest auction price achieved for a living artist, after Jeff Koons’ ‘Rabbit’ stainless steel sculpture and David Hockney’s 1972 “Portrait of an Artist (Pool with Two Figures)” painting. On 22 March 2021, Twitter CEO Jack Dorsey’s first tweet was sold for US$2.9 million. Most recently, TIME Magazine has released three special edition NFT magazine covers for auction, featuring the topical questions “Is God Dead?”, “Is Truth Dead?” and “Is Fiat Dead?”

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