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<ul class="news-points"><li>Hong Kong’s Financial Secretary believes that Web3 will bring the next wave of breakthrough growth in entertainment.</li><li>The Hong Kong official is betting on NFT, GameFi, Play to Earn, and immersive entertainment.</li><li>The secretary recently inaugurated the Web3 Life Experience Hall in Cyberport, Hong Kong.</li></ul>Paul Chan, the Financial Secretary of Hong Kong, believes that web3 and <a href="https://coinedition.com/what-is-blockchain-everything-you-need-to-know/" rel="noopener noreferrer nofollow">blockchain technology</a> will drive the next wave of growth in the entertainment space. The government official is confident that non-fungible tokens (NFT), GameFi, Play to Earn, and immersive entertainment will help the industry, given the interest they attract from entertainment giants around the globe.According to a <a href="https://www.fso.gov.hk/eng/blog/blog20230827.htm" rel="noopener noreferrer nofollow">blog post</a> by the Financial Secretary of the Government of the Hong Kong Special Administrative Region, Web3 and Blockchain technology are expected to play a significant role in the global online entertainment market. The market itself is expected to have a compound annual growth rate of 21%, reaching a whopping $653 billion by 2027.Financial Secretary Paul Chan’s comments came just days after the Digital Entertainment Leaders Forum, a web3 entertainment-themed three-day eve…The post <a href="https://coinedition.com/web3-and-blockchain-to-drive-growth-in-entertainment-hong-kong/" rel="noopener noreferrer nofollow">Web3 and Blockchain to Drive Growth in Entertainment: Hong Kong</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Web3 and Blockchain to Drive Growth in Entertainment: Hong Kong

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