The flood of money into hyped-up industries involving the metaverse and semiconductors have led to overvaluations that could be harmful in the long run, warns Ni Zewang, chairman of Shenzhen Capital Group, a major government-backed venture capital firm in China.“We recognise [metaverse] as a future trend and a promising technology, but without an actual application scenario, it won’t be able to create any value,” Ni said during a group interview at the Beyond Expo in Macau on December 2.“If the…

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