Regal Hotels enters the Metaverse with project MetaGreen

The Regal Hotels Group of Hong Kong has announced its entry into the Sandbox metaverse with an ESG-focused project dubbed MetaGreen, which is expected to be completed by October 2022.
Regal Hotels enters the Metaverse with project MetaGreen
Regal Hotels enters the Metaverse with project MetaGreen

MetaGreen is an initiative to create an environmental, social, and governance (ESG) focused plot of “LAND” in Animoca Brands’ subsidiary, The Sandbox – a decentralized gaming virtual world, according to Regal Hotels.

To establish MetaGreen, Regal Hotels purchased a group of independent lands that were united into a bigger tract or “estate” LAND NFT. It will be the first eco-system in which individuals may use blockchain, tokenization, GameFi, play-to-earn, and non-fungible tokens in a green city metropolis (NFTs).

MetaGreen is a collaborative ecosystem of like-minded partners co-creating a progressive green movement to inspire decarbonization and behavioral changes in the consumer and business communities, with the goal of accelerating the transition to carbon net-zero “The Regal Hotels Group’s Vice-Chairman and Managing Director, Poman Lo, stated.

Regal Hotels enters the Metaverse with project MetaGreen
Regal Hotels enters the Metaverse with project MetaGreen

Web3 and metaverse technologies will not only disrupt every aspect of our everyday lives but will also enable a more socially inclusive and environmentally sustainable global effect.

Following a successful relationship with many Hong Kong partners from various sectors, The Sandbox announced in January that it had built Mega-City, a cultural hub. The partners joined The Sandbox’s virtual real estate by purchasing LAND NFTs comparable to those held by Regal Hotels in the open metaverse, according to the statement.

Adrian Cheng, the Hong Kong tycoon, Sun Hung Kai & Co, professional services business PwC Hong Kong, blockchain-related investment and asset management company TIMES CAPITAL, and other local investors are among the prominent partners.

In the following months, more information on MetaGreen’s groundbreaking decarbonize-to-earn approach will be provided. Regal Hotels also intends to engage more ecosystem partners to participate in its program.

Animoca Brands, Planet Hollywood Group partner to create MetaHollywood

According to Blockchain.News, MetaHollywood aims to become the largest online community within a Hollywood-themed metaverse created by Animoca Brands and the Planet Hollywood Group as a joint venture.

“The MetaHollywood joint venture will transform the awe-inspiring Hollywood experience into a Web3 metaverse that benefits and reaches more fans, studios, and creators internationally within a virtual environment,” Animoca Brands said of the agreement.

As non-fungible tokens, the MetaHollywood joint venture will assist in the creation, ownership, interaction, distribution, and sharing of digital collectibles, movies, clips, and other assets (NFTs).