US tech firm BHPA announced on Thursday it would invest key resources to build infrastructure for the Metaverse, which comes amid a massive spike in global interest in the emerging technology.
According to the Irvine, California-based enterprise, developing the Metaverse could help bring people closer together and may “dramatically change people’s daily life for the foreseeable future.”
Despite not disclosing the amount of its investments, the company said its blockchain technologies would allow the Metaverse to emerge into reality rather than remaining the subject of science fiction and online chat rooms.
BHPA plans to leverage computing power, which its stated was “both the core and the foundation of metaverse infrastructure construction,” along with its blockchain technologies and industry resources to help build the platform expected to succeed the internet.
It has also begun hiring technical engineers and othe workers to expand research and development (R&D), and hopes to explore fresh potential of the blockchain as the emerging market develops.
New CEO, New Ambitions
The developments come after the blockchain and cryptocurrency firm appointed Lu Chen as its Chief Executive in September after outgoing Wenjie Wu stepped down due to personal reasons.
Chen said at the time industries had been rapidly adopting and realising cloud computing, which had become a “vital driving force” in the tech industry, adding,
“Looking into the future, data storage and computing power should become the most important infrastructure of the digital economy society, pushing the world into a new era of intellectualization and digitization”
He added his team would continue to build on its existing business, leverage strengths, and learn from the ongoing COVID-19 pandemic to innovate solution and “create greater value for the company.”
The news comes after Mark Zuckerberg, Meta Chief Executive and Co-Founder, rebranded Facebook and announced several major updates in the Horizon suite of Metaverse applications.
The Menlo Park-based firm has received both criticism and praise for its Metaverse ambitions, namely amid competition from other rival tech giants such as NVIDIA, HTC VIVE, NextTech AR, and others.
Numerous startups have also joined efforts to merge blockchain technologies into the Metaverse for eCommerce, verification, and other solutions.
Companies such as Vault Hill, Superworld, Boson Protocol, Delta Reality, NexTech AR, and many others have also built platforms for buying and selling on the Metaverse with non-fungible tokens.
