A brand of affordable luxury hotels that launched in 2008, citizenM has announced it will purchase a digital land site in The Sandbox, a virtual game world owned by Animoca Brands. With this venture, citizenM claims it will become the first-ever hospitality group to build a hotel in the metaverse.
In The Sandbox, users can create and monetize their own worlds and game experiences on what the game calls LANDs, which are NFTs that represent virtual real estate. After purchasing its LAND, citizenM aims to finance the build of its virtual hotel by selling collections of digital art as non-fungible tokens (NFTs). Purchasers also will receive discounts and rewards at citizenM’s portfolio of real-world hotels. At citizenM’s virtual hotel, avatars can virtually work, sleep, and play.
Once its meta-hotel is built, citizenM intends to collaborate with an additional roster of digital artists to create and sell NFTs. Eventually, citizenM will use the profits from these NFT sales to fully finance a physical, real-life property, whose location will be determined by a vote among token holders.
citizenM has sought to innovate in various aspects of the hospitality industry, from its app-based, fully contactless operations to its development of creative subscription services and its use of modular construction methods. The Netherlands-based brand is currently expanding its real-world hotel portfolio in North America.
“We are thrilled to be the first hospitality company to build in the metaverse,” Robin Chadha, CMO of citizenM, says in a statement. “As a brand that has always pushed the boundaries and challenged traditional models, this new venture in The Sandbox fits not only with our brand strategy but also the commitment we have to the creative community and to our guests both online and in the real world.”
Related Stories
| Jul 18, 2014
Contractors warm up to new technologies, invent new management schemes [2014 Giants 300 Report]
“UAV.” “LATISTA.” “CMST.” If BD+C Giants 300 contractors have anything to say about it, these new terms may someday be as well known as “BIM” or “LEED.” Here’s a sampling of what Giant GCs and CMs are doing by way of technological and managerial innovation.
| Jul 18, 2014
Top Construction Management Firms [2014 Giants 300 Report]
Jacobs, Barton Malow, Hill International top Building Design+Construction's 2014 ranking of the largest construction management and project management firms in the United States.
| Jul 18, 2014
Top Contractors [2014 Giants 300 Report]
Turner, Whiting-Turner, Skanska top Building Design+Construction's 2014 ranking of the largest contractors in the United States.
| Jul 18, 2014
Engineering firms look to bolster growth through new services, technology [2014 Giants 300 Report]
Following solid revenue growth in 2013, the majority of U.S.-based engineering and engineering/architecture firms expect more of the same this year, according to BD+C’s 2014 Giants 300 report.
| Jul 18, 2014
Top Engineering/Architecture Firms [2014 Giants 300 Report]
Jacobs, AECOM, Parsons Brinckerhoff top Building Design+Construction's 2014 ranking of the largest engineering/architecture firms in the United States.
| Jul 18, 2014
Top Engineering Firms [2014 Giants 300 Report]
Fluor, Arup, Day & Zimmermann top Building Design+Construction's 2014 ranking of the largest engineering firms in the United States.
| Jul 18, 2014
Top Architecture Firms [2014 Giants 300 Report]
Gensler, Perkins+Will, NBBJ top Building Design+Construction's 2014 ranking of the largest architecture firms in the United States.
| Jul 18, 2014
2014 Giants 300 Report
Building Design+Construction magazine's annual ranking the nation's largest architecture, engineering, and construction firms in the U.S.
| Jul 17, 2014
A new, vibrant waterfront for the capital
Plans to improve Washington D.C.'s Potomac River waterfront by Maine Ave. have been discussed for years. Finally, The Wharf has started its first phase of construction.
| Jul 17, 2014
A harmful trade-off many U.S. green buildings make
The Urban Green Council addresses a concern that many "green" buildings in the U.S. have: poor insulation.
