From “Kopi Boy to Listed Company CEO”, Raymond Chua’s rise is meteoric. Aftergraduating from Singapore Management University, the CEO of Marvion Ltd,became a partner of a coffee shop in Tekka Market. He later founded GEX Ventureswhich he scaled from a two-person start-up into a multi-award-winning firmspecializing in technology implementation in the Edutech and Proptech space.
Asian Property Review interviews Raymond on his current role as CEO of Marvion.
How is the metaverse currently doing? Property prices in the metaverse have plunged a lot. Will the situation get better or worse in the near term?
The metaverse is dynamic and fast evolving; it is normal for fluctuations and adjustments to happen for emerging technologies. The drop in property prices in the metaverse could be due to market speculation, regulations, and changes in user adoption.
As a company that offers services and tools for creators to create unique content on Web 3.0, we closely monitor market trends and user feedback in order to adapt and enhance our offerings.
For example, we helped the Department of Statistics and Actuarial Science of Hong Kong University develop the first metaverse campus with artificial intelligence – HKU CampusLand. The HKU Campus Land received rave reviews from students and we are now planning to expand its reach to include secondary school students in Hong Kong.
The metaverse hype has faded but what of its long term potential, say within the next 10 years?
While it’s true that the initial hype surrounding the metaverse may have subsided, we firmly believe in its long term potential over the next 10 years and beyond. We remain optimistic about the metaverse’s future, given its immense potential to reshape how people interact, communicate, and even conduct business online.
As technology continues to advance and more people become familiar with virtual reality and augmented reality experiences, the metaverse has the potential to become an integral part of our daily lives.
For example, following our success with HKU Campus land, we are now collaborating with the Chinese University of Hong Kong (CUHK) on our Central Park metaverse project.
With advancements in artificial intelligence, blockchain, and other emerging technologies, the metaverse will likely offer even more immersive and interactive experiences in the future. This could include virtual worlds that simulate real-life scenarios, virtual marketplaces where people can buy and sell digital assets, and virtual social spaces where individuals can connect and collaborate.
As companies and developers continue to innovate and create new applications and experiences within the metaverse, we expect to see steady growth in its adoption.