One of the most iconic New Year celebrations is coming to the metaverse.
Jamestown, a real estate firm and owner of One Times Square, has partnered with popular blockchain and crypto investor Digital Currency Group to build the virtual version of the firm’s iconic 26-story tower situated at the center of New York’s Times Square.
Simon Koster, DCG’s Head of Real Estate, stated in the press release:
“From destinations, to gaming, education, retail and more, we can expect the metaverse to revolutionize our current online experience. This event highlights how virtual events can cohesively integrate with real ones in an effort to bring once-in-a-lifetime experiences to so many that would have never been able to participate otherwise.”
One Times Square building is world-famous for its historic New Year’s Eve Ball Drop Celebration party hosted every year on December 31. Now, the party will have its own metaverse version, likely making up for the fact that only 15,000 guests are allowed to enter the party as a precautionary measure for COVID-19.
The companies have chosen Decentraland for their next venture, which will feature One Times Square virtual replica as well as the Ball Drop Celebration party. This makes the party one of the first historical events to be morphed into the metaverse.
In addition to the event, the “MetaFest 2022” party will host non-fungible token (NFT) art galleries, rooftop VIP lounges, and virtual music performances, as well as immersive games.
“Recreating One Times Square in the Decentraland metaverse is part of a larger digital asset strategy to evolve and enhance our physical real estate for Web 3.0 and open new pathways for our assets to exist in multiple metaverses in the future,” said Michael Phillips, President of Jamestown.