Decentraland will recreate New York's One Times Square skyscraper

A New Year's ball is held on its roof every year

30.12.2021 - 07:15

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1 min

What’s new? Decentraland's virtual space will feature a replica of the New York City skyscraper, the One Times Square. The developers intend to hold the “MetaFest 2022” New Year's Ball on the digital roof. This is stated in a press release.

Link to the press release

Who invested in the project? The Digital Currency Group (DCG), an investment firm, and Jamestown, a real estate organization, initiated the launch of the digital replica of the building.

As the value of virtual real estate gains traction, the involvement of real estate companies like Jamestown may become a trend, CoinDesk notes. How much the organization has invested in the project is not disclosed.

Material on the CoinDesk website

“The metaverse is an important part of the evolution of real estate and the built environment. The metaverse can give people around the world access to places through immersive virtual experiences,” stated Jamestown President Michael Phillips.

What is known about the project? The GrowYourBase and MetaVenture Studios teams will create the virtual space. The “MetaFest 2022” celebration will include virtual art galleries, VIP lounges, and musical performances.

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