If you thought the metaverse was a fad, these Singaporean billionaires beg to differ. Covered: Billionaires Look to Disrupt Hospitality Industry Web 3 and Metaverse Will Disrupt “Every Facet of our Daily Lives” Billionaires Look to Disrupt Hospitality Industry  Mathieu Nouzareth, CEO of blockchain-based virtual world The Sandbox, went on Coindesk TV today to discuss […] The post Singaporean Billionaires Buy Land in Metaverse appeared first on CryptosRus.

Singaporean Billionaires Buy Land in Metaverse

If you thought the metaverse was a fad, these Singaporean billionaires beg to differ.

Covered:

  • Billionaires Look to Disrupt Hospitality Industry
  • Web 3 and Metaverse Will Disrupt “Every Facet of our Daily Lives”

Billionaires Look to Disrupt Hospitality Industry 

Mathieu Nouzareth, CEO of blockchain-based virtual world The Sandbox, went on Coindesk TV today to discuss the future of the metaverse, its social hierarchy, and the competition from the likes of Decentraland and Otherside. One interesting takeaway from the interview was the chyron that flashed regarding the topic of Singaporean billionaires scooping up land in the Sandbox.

Credit: Coindesk TV

A recent story that got little attention in the media, other than in Forbes, detailed how Singaporean Billionaire Kwek Leng Beng and his Millennium Hotels and Resorts are jumping into the metaverse along with billionaire Lo family’s Regal Hotels Group in Hong Kong. The story was published after crypto had already began plummeting, but before the Terra collapse. However, it shows the resilience of the crypto industry. The Regal Hotel Group is looking so tell up to 100 green hotel and residential units in the form of NFTs, after its virtual project is complete.

Credit: Forbes

The Group is developing a virtual city in the Sandbox. Not only are they buying land in Sandbox, but also in Decentraland. Their new foray in the Sandbox is called the “Green Metropolis.” The hotel aims to become “a place for all to gather and discover the virtual reality universe” in the metaverse platform, Millennium Hotels said in a statement. Visitors will be able to “interact with an avatar which guides them through the building, and will have the chance to win real world hotel surprises.”

The M Social Decentraland virtual hotel developed by Millennium Hotels and Resorts. Credit: Forbes

Web 3 Will Disrupt “Every Facet of our Daily Lives”

Billionaire Kwek Leng Beng said of the investment: “We hope to redefine hospitality through M Social Decentraland by creating online adventures that integrate with real life events.” Through the metaverse, the Hotel Group is looking connect the virtual hotel with real world events, giving guests another dimension of engagement. In many ways, the thrust of the metaverse in a brand sense allows for companies to add this extra dimension, creating wholly new experiences for consumers.

The aforementioned virtual city dubbed Metagreen, built on Sandbox, is looking to “promote eco-friendly choices and foster a sustainable community to support a circular economy.  It will also include a shopping mall in collaboration with Hang Seng Bank and other retail brands, an art gallery and an eco-farm, as well as an academy that partners with a Hong Kong university to promote sustainability.” Vice Chairman of the Regis Hotel Group Poman Lo mentioned that “Web3 and metaverse technologies will disrupt every facet of our daily lives.”

This virtual city is set for a full launch in October. As the Sandbox CEO mentioned in his interview, Sandbox is focused primarily on gaming, which is one the best ways to retain daily users and build a lasting platform. This is what Roblox and and their Robux currency have achieved with amazing success, although not on blockchain. One thing is clear from this story: a crypto winter may be here for the Summer, but the money is pouring in hot and heavy. Reps from the investors stated that the metaverse “addressable market could be worth up to $13 trillion by 2030.” Those who stick around will be rewarded.”

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