Economy
Hypefest Hong Kong 2024: An Unforgettable Weekend of Music, Art, and Community
Hong Kong’s first two-day outdoor music and cultural festival hosted by Hypebeast, featured 24 musical acts alongside a multitude of brand activations, art installations and interactive experiences.
HONG KONG SAR – Media OutReach Newswire – 3 December 2024 – Hypebeast, the leading global platform for contemporary culture and lifestyle, concluded Hypefest Hong Kong 2024 on November 9-10. Financially supported by the Mega Arts and Cultural Events (Mega ACE) Fund under the Culture, Sports and Tourism Bureau of the Hong Kong Special Administrative Region Government and supported by iMe Entertainment Group, Hypefest Hong Kong 2024 marked Hypebeast’s largest event in Hong Kong to date. Despite the impact of Typhoon Signal No. 3 and rain, the 2-day weekend event attracted over 28,000 festival-goers gathering at the Central Harbourfront Event Space – the city’s largest outdoor venue – to soak in the spectrum of contemporary and diversified cultures that Hypebeast had to offer.
“Hypefest Hong Kong 2024 is the largest initiative we’ve ever done in Hong Kong. We are excited to welcome all visitors from around the world to celebrate fashion, art, music, culture, and community over one amazing weekend. At Hypebeast, our mission is simple – to bring people together in meaningful ways. We are here to create authentic experiences that inspire everyone. And most importantly, we are here to give everyone an opportunity to express their creativity, passions, and dreams. Hypefest Hong Kong 2024 is truly the perfect venue to make this all happen,” said Mr. Kevin Ma, Executive Director and Chief Executive Officer of the Hypebeast Group.
“We are thrilled to support Hypefest Hong Kong 2024, a pivotal event that aligns perfectly with our vision for growth. Our commitment to expanding regional showcases, including music festivals, reflects our dedication to fostering vibrant cultural experiences. Together with Hypebeast, we aim to create unforgettable moments that celebrate creativity and community,” stated Mr. Brian Chow, Chief Executive Officer of the iMe Entertainment Group.
Over the course of the two-day event, Hypefest Hong Kong hosted 24 musical acts headlined by internationally recognized South Korean-born DJ Peggy Gou on the first day, and French electronic music duo, JUSTICE, who concluded the second day of the festival. Apart from the closing performances by the headliners, the music stage showcased a diverse combination of genres that featured a carefully-curated mix of international and regional performers such as ADOY, Awich, ONE OR EIGHT, Rich The Kid, sunkis and more.
In addition to the live performances, the festival was jam-packed with unprecedented and unconventional experiences. Exclusive collaborations stood out as a major highlight with limited edition “Sun Bleach” items with Jiyong Kim, PIET x Oakley and Prodip Leung collaborations, Wing Shya’s capsule, BE@RBRICK Audio’s Hypefest-exclusive speaker and music line-up merch by Peggy Gou’s PEGGY GOODS, as well as JUSTICE available at the flea market.
The festival was nothing short of things to see and do, with Coin Parking Delivery’s larger-than-life inflatable art installation, SIMON’s live-art painting, ASICS SportStyle’ pop-up experience where guests were welcomed with an immersive digital installation, Timberland’s “TIMBS it YOURSELF” customization workshop with Hypefest-exclusive shoe accessories, Mercedes-Benz’ G-Class display and more. Brand pop-ups featuring 432hz, LeeeeeeToy, PabePabe, Raw Emotions, Ballaholic and COSTS were reimagined through interactive carnival games, keeping festival-goers entertained and inspired throughout the weekend. Additionally, the majority of limited-edition collaborative products, including JUSTICE’s T-shirts, Hypefest-exclusive PEGGY GOODS collection by Peggy Gou, and the LABUBU figure created by Kasing Lung in collaboration with 432hz, quickly sold out within two days.
The food village also impressed the visitors with tantalising treats exclusively available at Hypefest Hong Kong 2024. Participating vendors including BaseHall presents: Draftland, Bengal Brothers, Devil’s Tea, Dionysus & Loong, Honbo, Jeonpo Meat Shop, Snack Baby and SONNY’s, who all presented their signature dishes and exclusive menus, making sure festival-goers were replenished and energised.
Hypefest Hong Kong 2024 was made possible by the financial support from the Mega ACE Fund under the Culture, Sports and Tourism Bureau of the Hong Kong Special Administrative Region Government. Supported by iMe Entertainment Group, the leading entertainment company in Asia, the event offered a memorable and innovative experience to all attendees, while celebrating the vibrant fusion of cultures in Hong Kong.
For more information about Hypefest Hong Kong 2024, visit hypebeast.com and follow its social media channels for more.
Instagram:@hypebeast @hypefest
Hashtag: #hypefest #hypefesthongkong2024
The issuer is solely responsible for the content of this announcement.
About Hypebeast
Founded in 2005, Hypebeast is a leading platform for contemporary fashion and culture that highlights curated brands and emerging lifestyles through editorially-driven news and features. Its devotion to discovery has made it one of the premier online destinations for fashion and lifestyle editorial and news. Currently operating in over 15 markets, readers can stay up to date with the latest culturally-relevant news and developments on men’s fashion. For more information, visit Hypebeast.com.
About Mega Arts and Cultural Events (Mega ACE) Fund
The Mega ACE Fund set up by the Culture, Sports and Tourism Bureau aims to attract and support international and large-scale arts and cultural events to anchor in Hong Kong. It targets mega arts and cultural events in Hong Kong organised by the private sector or non-governmental organisations, with a view to developing Hong Kong into an arts and cultural metropolis, providing opportunities for the arts and cultural sector to flourish, as well as fostering Hong Kong’s development as an East-meets-West centre for international cultural exchange.
Project Grant
The Government of the Hong Kong Special Administrative Region provides funding support to Hypefest Hong Kong 2024 only, but does not otherwise take part in it. Any opinions, findings, conclusions or recommendations expressed in the materials/activities (or by members of the Grantee’s team) are those of the organisers of Hypefest Hong Kong 2024 only and do not reflect the views of the Government of the Hong Kong Special Administrative Region.
About iMe Entertainment Group
iMe Entertainment Group, the current leading entertainment company in Asia. Established in 2006 as a concert promoter and artist management company, iMe has since expanded to 10 countries, organized major events in more than 50 major cities in Asia- Pacific region.
Over the past 16 years, iMe has gradually developed entertainment contents consist of concert/live events, artist management, promotion & marketing, and fan base interaction platform, as being the key business elements. iMe committed to grow its scale with producing effective strategies of developing management teams, aiming to deliver innovative and best results for all business partners.
Economy
OPEC+ Delays Oil Output Hke Until April, Extends Cuts Till 2026
By Adedapo Adesanya
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) has postponed plans to unwind several formal and voluntary crude production cuts into 2026.
The alliance agreed to extend the 2 million barrels per day and the 1.65 million barrels per day of cuts until the end of 2026 from the end of 2025, respectively, according to statements issued by the group on Thursday.
The gradual unwinding of 2.2 million barrels per day of cuts will start from April 2025 with monthly increases of 138,000 barrels per day and will last 18 months until September 2026.
The group had previously planned to unwind the 2.2 million cut over 12 months through monthly output increases of 180,000 barrels per day.
Under its formal output strategy, the broader OPEC+ coalition is now restricting its combined production to 39.725 million barrels per day until December 31, 2026, after previously only applying this quota throughout 2025.
Eight OPEC+ members, excluding Nigeria, will now extend their 2.2 million barrels per day voluntary production decline into the first quarter, and will begin hiking production incrementally between April and September 2026.
Several OPEC+ members will also be postponing the unwinding of the second 1.65 million barrels per day cut until the end of next year. This latter production decline was previously only set to last through 2025.
Despite these sets of production trims and ongoing conflict threatening the hydrocarbon-rich Middle Eastern region, global oil prices have remained subdued for the better part of this year, under pressure from a lukewarm demand outlook.
Market analysts also warned that the oil market will now shift focus to the actions of US President-elect Donald Trump, who when he takes office in January, could impose new sanctions on Iran, tariffs on China and has pledged an end to the Russia-Ukraine war.
Economy
Bitcoin Could Hit $200,000 Next Year, Ethereum $8,000—Analyst
By Aduragbemi Omiyale
The Head of Research at Derive.xyz, Mr Sean Dawson, has disclosed that the price of Bitcoin could potentially reach $200,000 next year.
On Wednesday, the token cross the elusive $100,000 threshold buoyed by renewed interest in the crypto market after Mr Donald Trump won the presidential election of the United States held on November 5, 2024.
Mr Trump, who is returning to the White House for the second term after he occupied it from 2017 to 2021, is a fan of the crypto landscape and it is believed that his return would favour the market.
In the analysis done by the world-leading onchain options DeFi protocol, it was stated BTC has the 18 per cent chance of shattering that ceiling.
“While Bitcoin hits a major milestone of reaching above $100,000 for the first time today (yesterday), optimism has surged on Derive.xyz, with an 18.7 per cent chance of BTC reaching $200,000 by September 26, 2025 – four-times higher since the US election,” Mr Dawson said in a note to Business Post.
“Ethereum is not far behind with an all-time high prediction of 23.6 per cent chance of reaching $8,000 by the same date.
“Current market dynamics also show a 10.5 per cent probability of Ethereum hitting $6,000 and a 6 per cent chance for Bitcoin to reach $150,000, both by January 31.
“The sharp increase in the 25 delta skews for Bitcoin to 8.8 per cent and 10.3 per cent for 7 and 30 days, respectively, compared to 24 hours ago, shows that traders are heavily favouring calls over puts to maximise on potential upward movements.
“Additionally, Bitcoin’s ATM implied volatility has reflected these expectations with a significant increase, peaking at 72 per cent recently, before adjusting to 61 per cent. This indicates anticipation of substantial price movements in the coming week.
“The heightened market activity and trader confidence are mirrored in Derive.xyz‘s performance, with our total value locked (TVL) reaching a new peak of $94.8 million. This milestone solidifies Derive.xyz’s position as a dominant player in the DeFi space, poised to leverage these optimistic market trends, as we move toward a TGE on January 15,” he added.
Economy
Senate Passes Investments, Securities Bill for Investor Protection
By Aduragbemi Omiyale
The Investments and Securities Bill 2024 has been passed by the Senate after it scaled the third reading at the upper chamber of the National Assembly.
The bill aims to protect investors at the Nigerian capital market as it blocks different forms of abuse, insider dealings, preventing unauthorised, illegal , unlawful, fraudulent and unfair trade practices relating to securities and investments.
The chairman of the Senate Committee on Capital Market, Mr Osita Izunaso, while presenting the bill to the parliament, disclosed that the repeal and enactment bill, when signed into law by the President, would further strengthen the Securities and Exchange Commission (SEC) carry sanitise the market.
According to him, the bill will “undoubtedly provide a significant opportunity to drive the growth of the capital market and diversification, thereby creating a conducive atmosphere for investors in the Nigerian capital market.
In addition, it will “address modern forms of financial malpractices and reinforce investors’ protection by engendering robust regulations around market abuses, insider trading and governance standards for publicly traded companies.”
He said, The bill envisages regulatory framework for digital currencies and fintech activities, including the supervision of blockchain and cryptocurrency transactions to support the integration of innovative technologies within the scope of the capital market.”
“The bill seeks to set a clear-cut delineation of roles amongst regulatory bodies in order foster transparency and reduce regulatory overlap, thereby enhancing the operational efficiency of Nigeria’s Securities and Exchange Commission;
“It seeks to support the introduction and regulation of diversified financial instruments, including derivatives, Exchange Traded Funds (ETFs) and other sophisticated products, which are essential for meeting the needs of a broad investor base and increasing market depth,” he added.
Business Post reports that when signed into law, the new bill will repeal the existing Investments and Securities Act 2007.
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