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Metaverse News Europe


The metaverse gets its very own Hollywood studio

7/10/2022

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Hollywood, known for creating vivid virtual worlds, is setting foot in their ultimate iteration: the metaverse.
Gaming company Animoca Brands is building a studio backlot in The Sandbox, a metaverse platform, in a partnership with Planet Hollywood, the firm said in a statement The partnership, dubbed Meta Hollywood, bought a virtual plot in The Sandbox, where one pixel of “land” costs about around 2.2 Ethereum, or $2,700. It didn’t say how many pixels were involved in the deal.
The metaverse has attracted investors who see an opportunity to build a virtual environment that will attract online visitors. Jamestown Properties, the owner of the 25-story landmark One Times Square in New York City, last year built a virtual version of the property in Decentraland, another metaverse platform. Jamestown President Michael Phillips told TRD in January he hoped it would attract people to the real property and that it was an opportunity to make money from content.

Cryptocurrency values have plummeted recently, however, meaning the price of virtual land plots have as well. In November, when Ethereum was at its peak, that same plot in The Sandbox would have been valued at about $10,500.
Animoca and Planet Hollywood are betting on the long-term success of the metaverse. Like at the Warner Bros. Studio or Universal Studios in L.A., visitors to the duo’s new studio complex can tour action sets, attend premieres and visit a museum filled with Planet Hollywood’s real-life memorabilia collection.

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  • Home
  • Photos 2022
    • Videos 2022
  • News
  • Nominations
    • Top Debut in Metaverse
    • Top European Metaverse
    • Top VC/Accelerator/Incubator
    • Top Blockchain Developer Services Provider
    • Top Blockchain Game of the Year
    • Top CVC Partner for Web 3.0/Metaverse
    • Top Corporate Partnership
    • Top Legal Firm or Services for Metaverse/Web 3.0 businesses
    • Top Avatar Design, Digital-Twin, or Identity Company
    • Top Cloud, Enterprise or Technology Partner
    • Top Partner for establishing early-stage presence in Metaverse
    • Most Innovative NFT Project
    • Top 3D Design Firm for Metaverse
    • Top Global City for Web 3.0/Metaverse Ecosystem
    • Top Fashion or Consumer Brand Initiative
    • Top Sports, or Events, Brand Initiative
    • Top B2B or Industrial Initiative in Metaverse
    • Top Wallet, or Digital Payment, ecosystem
    • Most Exciting StartUp or Early-stage Company
    • Top XR/AR/VR Firm for Metaverse
    • Top Consumer Hardware or Interface for Metaverse/Web 3.0
  • The Event
    • Agenda
    • VIP Jury
    • Brella Event App & Networking
    • Venue
    • Hotel Reservation
    • FAQs
    • Tickets
      • Pay via Credit Card
  • Contact