• Sat. May 21st, 2022

Digital Currency Group and Jamestown Kick off New Years Eve Ball in Metaverse

New Years Eve is a glitzy affair in New York City, as it is in most parts of the world. The celebration in Times Square, for its part, typically accommodates around 58,000 people in the viewing areas. However, due to the pandemic, the numbers will be reduced among other bans. But visitors can also enjoy the New Year’s ball drop from the comfort of their own homes – in the Metaverse.

New Years Eve on Metaverse

Global real estate company and owner of One Times Square in Manhattan, Jamestown, and cryptocurrency giant Digital Currency Group (DCG) have teamed up to recreate the iconic New Year’s ball drop tower in the virtual world popular blockchain-based – Décentraland.

Interestingly, DCG is a long-time funder as well as one of the largest owners of digital real estate (“LAND”) in Decentraland.

The One Times Square virtual space will be unveiled with the global party dubbed “MetaFest 2022 NYE Party” on December 31st. Virtual guests will be able to participate in immersive games, as well as enjoy music and entertainment acts, VIP rooftop lounges, NFT art galleries, and more.

According to the official announcement, the official programming will begin at 11:00 p.m. EST and will run until the early hours of 2022.

Construction of the 26-story virtual tower and MetaFest’22

Times Square-focused New Years celebrations have a century-old history. The MetaFest 2022 NYE Party contains a modern twist that describes the need of the hour, especially with the increase in COVID-19 cases. To build and operate the iconic celebration on Decentraland, two metaverse companies – GrowYourBase and MetaVenture Studios – have joined forces.

In addition, the One Times Square virtual tower, which covers approximately 170 LAND plots, will include five buildings, each with distinct exteriors and interiors enabled.

After development, Michael Phillips, president of Jamestown, highlighted the importance of the metaverse when it comes to real estate developments.

He spoke of the limitation of “physical real estate” restricted primarily to people with “geographic proximity”. According to Phillips, the metaverse, on the other hand, can provide meaningful access to people in different parts of the world using “immersive virtual experiences.”

“Recreating One Times Square in the Decentraland metaverse is part of a larger digital asset strategy to evolve and improve our physical real estate for Web 3.0 and open new avenues for our assets to exist in multiple metaverse in the future. . ” – he added.

Featured Image Courtesy of BillBoard

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