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Decentraland Will Recreate One Times Square’s New Year’s Eve Drop In the Metaverse

Digital Currency Group, a crypto investment company, is working with a real estate investment and management company, Jamestown, in order to create One Times Square on the Decentraland metaverse.

The 26-story building sitting in the middle of Times Square, New York City, is known for its annual New Year’s Eve Ball Drop. The property belongs to Jamestown.

Annually, the New Year’s Eve Ball Drop celebration takes place on the rooftop. The event starts at twilight.

Michael Phillips, the President of Jamestown, stated:

“The future of real estate is the thoughtful integration of the virtual and physical worlds, optimized for user experience. The metaverse is an important part of the evolution of real estate and the built environment. Whereas physical real estate is largely limited to people with geographic proximity, the metaverse can give people around the world meaningful access to places through immersive virtual experiences.”

The virtual One Times Square found in Decentraland will have its very own New Year’s Eve Ball with the event beginning at an hour before midnight EST. This is the first instance of an important cultural celebration being recreated in the metaverse.

The metaverse New Year’s Eve event coincides with Decentraland’s MetaFest 2022, a worldwide party that features music acts, immersive games, CryptoArt galleries, and much more.

Simon Koster, DCG’s Head of Real Estate, declared:

“The metaverse is quickly evolving to bring together the most interesting and alluring parts of our favorite physical places around the world. 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.”

The One Times Square metaverse instance will be recreated at -106, -119 on the Decentraland platform and it will become the first high-rise building on the platform. The creation will occupy around 170 LAND parcels.

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