New Year’s Eve party is as glamorous in NYC as it is anywhere else. One celebration is Times Square. It typically hosts around 58,000 people. The numbers will be reduced due to the pandemic. Visitors can still enjoy the New Year’s Eve ball dropping from their own homes – in metaverse.
Metaverse: New Year’s Eve
Global real estate company and Jamestown’s owner of One Times Square in Manhattan have teamed up to recreate the tower from the New Year’s Eve ball drop in Decentraland, a popular virtual world that uses blockchain technology.
DCG is both a long-standing backer and one of the largest digital real estate owners (“LAND”) in Decentraland.
On December 31, the virtual space in One Times Square will open to the public with the “MetaFest 2022 NYE Partie” global party. Virtual guests can enjoy immersive games and music, entertainment acts, rooftop VIP lounges and NFT art galleries.
Official announcement states that official programming will begin at 11:00 PM. The official programming will continue into the early hours in 2022 at EST.
The Construction of a Virtual 26-story Tower, and MetaFest’22
New Year’s Eve celebrations in Times Square are a tradition that dates back a century. The MetaFest 2022 NYE Party is a modern interpretation that reflects the times, particularly with rising COVID-19. Two metaverse companies, GrowYourBase and MetaVenture Studios, teamed up to create and manage the legendary celebration on Decentraland.
The virtual One Times Square tower will also have five buildings with different exteriors and activated insides. It covers approximately 170 LAND parcels.
After the development, Michael Phillips (President of Jamestown) emphasized the importance of metaverse in relation to the real-estate evolution.
Phillips spoke out about “physical real estate,” which is limited to those who are “geographically close.” However, Phillips believes that metaverse can provide meaningful access to people with the help “immersive virtual experience” to other places around the globe.
He said that “Recreating One Times Square is part of a larger strategy for digital assets to evolve, enhance our physical real property for Web 3.0, and open new pathways to allow our assets to exist in multiple metaverses in future.”
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Marla Brooks – Financial Analysis
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