The two Asian hotel chains, Kwek Leng Beng’s Millennium Hotels and Resorts and the billionaire Lo family’s Regal Hotels Group from Hong Kong purchase the virtual properties in METAVESE. It is the first step towards the future of virtual real state industry. This is really exciting to see metaverse growing.
Purchasing land in Metaverse became possible due to the Blockchain gaming platforms like Sandbox and Decentraland . Millennium hotels and Resort launching their hotel in Decentraland, a virtual world where players can build, buy and sell in-game assets as they interact with others. Decentraland allows the ownership of lands to be recorded as digital assets. It is a Ethereum based Blockchain software. Their virtual hotel is known as M Social Decentraland and they aim to become “A place for all to gather and discover the virtual reality Universe” said millennium hotels in statement. “ As we look towards the future we need to look past the traditional model of hospitality and engage our guests through new immersive experience.” Adding more to statement, Executive chairman of City development Kwek said.
In Hong Kong, billionaire Lo Yuk Sui, the chairperson of Regals Hotels Group announced that it is growing a “Green Metropolis” in Sandbox. The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain. Green Metropolis aka MetaGreen, the virtual city is paying attention to “promote eco-friendly choices and foster a sustainable community to support a circular economy,” Regal Hotels commented. The feature of metropolis are as follow 1)convention center for conferences related to environment, 2) Social and governance (ESG) issues, 3)A shopping mall in collaboration with Hang Seng Bank and other retail brands, 4) An art gallery and an eco-farm, as well as 5) An academy that partners with a Hong Kong university to promote sustainability.
Coming soon…
M Social Decentraland is opening the gates of virtual hotels to players in early May. The most exciting part is the visitors will able to interact with an avatars which guides them through the building and will have the chance to win “Real world hotel surprises”. ‘Regals Hotels Group announced that they are launching “Green Metropolis” in October.
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