Fire Rock joins "Metaverse" club after Facebook changes name to Meta

Metaverse is the latest buzzword to capture the tech industry's imagination so much such that one of the best-known internet platforms Facebook is rebranding to signal its embrace of the futuristic idea. It renders internet in 3D, if not brings it to life. Zuckerberg has described it as a "virtual environment" you can go inside of instead of just browsing it through a screen.

Entering the metaverse becomes a new trend for companies. Fire Rock Holdings Limited ("Fire Rock")(SEHK:1909.HK) announced the plan to launch a AR Metaverse series of games, using NFT technology, in Southeast Asia with the strategy of "Game+Social+Sales Platform" adopted in late December 2021. The players could connect with other game players in AR games, interact with other game players by using the results and coins inside the games through the reward points platform and social software launched by the Company, or earn points from the reward points platform in exchange for more merchant offers and experience a more comprehensive interactive metaverse business ecology.

Stock prices of companies who have joined the metaverse madness has been skyrocketed over the last few months. Stock price of Roblox Corporation, a company which uses the metaverse concept for its videogames, has gone up approximately 30% since its DPO. Stock price of Nvidia Corporation, the graphics processing unit company which developed the Omniverse, has increased by 50% in just one month.

Despite of joining the metaverse, Fire Rock has been positioning itself as an NFT gaming firm. NFT is another big investment theme for investors. Earlier this month, The Sandbox a Hong Kong-based gaming platform that allows users to build a virtual world using NFTs, has raised $93 million from investors led by SoftBank. NFT sales volume surged to $10.7 billion the third quarter of 2021, up more than eightfold from the previous quarter, according to data from market tracker DappRadar.

Fire Rock has created an unprecedented ecosystem in the gaming industry. It does not only tokenize its in-game items, but also convert game reward points to real assets. Earlier in Jun 2021, Fire Rock has launched in Thailand a public test of the reward points platform for the connection of game users and stores, scaling up the scope of the application of the blockchain technology. By connecting with the reward points platform and games launched in Thailand, game users can apply their scores and gold coins in games to interact with other users and earn platform scores that could be converted into more store concessions. Fire Rock is also planning a step further to replicate its successful experience in Thailand to other parts of the world. Its smart move to the NFT market has made it a hidden gem to buy among all tech stocks.

With all the stock catalysts that Fire Rock has, the booming NFT market and the crypto asset frenzy, it is not surprised to see its stock price surge in the near future.