One Times Square in Decentraland Metaverse will launch on New Year’s Eve with the MetaFest 2022 global party.

Digital Currency Group and Jamestown have partnered to recreate One Times Square virtually in the Decentraland metaverse. The iconic location, known the world over for its New Year’s Eve celebrations and ball drop, will launch in Decentraland on New Year’s Eve with the MetaFest 2022 global party featuring music and entertainment acts, rooftop VIP lounges, cryptoart galleries, and immersive games. (BusinessWire)

One Times Square: Decentraland

The organizers have roped in metaverse development firms GrowYourBase and MetaVenture Studios to construct and operate the virtual One Times Square in Decentraland.

The One Times Square building is the first high rise to be built in Decentraland. The metaverse firms will also recreate all of the tower’s signage as well as the New Year’s Eve Ball.

A decentralized metaverse, Decentraland is open to everybody. People can enter the metaverse using an avatar and participate in its economy using its native MANA digital currency. They can even buy parcels of virtual land.

The number of daily active users on Decentraland has surged by 15x in 2021.

“The future of real estate is the thoughtful integration of the virtual and physical worlds, optimized for user experience,” said Michael Phillips, President of Jamestown, the owner of One Times Square. “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.”

“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,” said Simon Koster, DCG’s Head of Real Estate.

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