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Singapore Millennium Hotels and Hong Kong Regal hotels all set to join Metaverse

Singaporean billionaire Kwek Leng Beng and his Millennium Hotels and Resorts are ready to venture into the Metaverse universe to disrupt the hospitality industry. He believes that every aspect of our daily lives will be disrupted by Web 3 and Metaverse.

According to sources, Singaporean tycoon Kwek Leng Beng and his Millennium Hotels and Resorts, along with Hong Kong’s Regal Hotels Group, are all set to venture into the metaverse universe. The news was out after crypto had already started to fall due to the Terra crash. However, it demonstrates the crypto industry’s tenacity. The Regal Hotel Group wants to create up to 100 green hotel and residential units in the form of NFTs when its virtual project is finished. In the Sandbox, the group is creating a virtual metropolis. They are purchasing land in both Sandbox and Decentraland. The “Green Metropolis” is their new addition into The Sandbox. The hotel aims to become “a place for all to gather and discover the virtual reality universe in the metaverse platform. Visitors will be able to interact with an avatar which guides them through the building, and they will have the chance to win real world hotel surprises. “

Singapore Billionaire Kwek Leng Beng remarked on the statement:

“Through M Social Decentraland, we intend to revolutionise hospitality by generating online adventures that combine with real-life events.”

Metagreen, the virtual metropolis based on Sandbox, is aiming to expand to “promote eco-friendly choices and foster a sustainable community to support a circular economy.” Green Metropolis will also have 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 will promote sustainability in association with a Hong Kong university. 

Poman Lod, vice- Chairman of the Regis Hotel Group, emphasised that “Web3 and metaverse technologies will disrupt every facet of our daily lives.”

The Hotel Group is using the metaverse to integrate the virtual hotel with real-world events, providing guests with a new level of interaction. In many respects, the metaverse’s drive in terms of branding allows corporations to add this extra dimension, resulting in whole new experiences for customers.

The complete debut of this virtual metropolis is scheduled for October. Sandbox is largely focused on gaming, which is one of the greatest methods to maintain everyday visitors and establish a long-term platform, as the Sandbox CEO noted in his interview on May 26. This is exactly what Roblox and its Robux money have accomplished, albeit not on the blockchain. One thing is evident from this story: a crypto winter may be on the way for the summer, but money is still flowing in thick and fast. Investors’ representatives indicated that the metaverse “addressable market could be worth up to $13 trillion by 2030.” 

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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