The owner of the Times Square building in New York City entered the metaverse by recreating a virtual duplicate of the building for Decentraland. Decentraland will unveil the iconic One Times Square on the 31st of December night for the ‘MetaFest 2022’ event. It will be the tallest (26-story) building in the metaverse.
“There will be music, club parties, rooftop VIP lounges, CryptoArt galleries, immersive games, a Ball Drop you will never forget, and wearables and collectibles to take with you into the year ahead,”
the event’s description reads.
The real estate firm Jamestown partnered with Digital Currency Group (DCG) – a supporter of Decentraland that holds a large number of MANA and LAND tokens.
Jamestown President Michael Phillips said in the press release:
“The metaverse is an important part of the evolution of real estate and the built environment. Whereas physical real estate is largely limited to people with geographic proximity, the metaverse can give people around the world meaningful access to places through immersive virtual experiences.”
On the Flipside
- The real-life Time Square has a 15,000 vaccinated attendee limit due to the Omicron outbreak.
- Virtual real estate on the metaverse is gaining popularity at a rapid speed. This has lead to many real-estate agencies joining the digital land market.