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
Architects | Aug 5, 2021
Lord Aeck Sargent's post-Katerra future, with LAS President Joe Greco
After three years under the ownership of Katerra, which closed its North American operations last May, the architecture firm Lord Aeck Sargent is re-establishing itself as an independent company, with an eye toward strengthening its eight practices and regional presence in the U.S.
AEC Tech | Jan 28, 2021
The Weekly show, Jan 28, 2021: Generative design tools for feasibility studies, and landscape design trends in the built environment
This week on The Weekly show, BD+C editors speak with AEC industry leaders from Studio-MLA and TestFit about landscape design trends in the built environment, and how AEC teams and real estate developers can improve real estate feasibility studies with real-time generative design.
AEC Tech | Nov 12, 2020
The Weekly show: Nvidia's Omniverse, AI for construction scheduling, COVID-19 signage
BD+C editors speak with experts from ALICE Technologies, Build Group, Hastings Architecture, Nvidia, and Woods Bagot on the November 12 episode of "The Weekly." The episode is available for viewing on demand.
Smart Buildings | Oct 26, 2020
World’s first smart building assessment and rating program released
The SPIRE Smart Building Program will help building owners and operators make better investment decisions, improve tenant satisfaction, and increase asset value.
Smart Buildings | Oct 1, 2020
Smart buildings stand on good data
The coming disruption of owning and operating a building and how to stay ahead through BIM.
University Buildings | Jun 3, 2020
Renovation can turn older university buildings into high-performing labs
David Miller of BSALifeStructures offers technical advice on renovation of college and university laboratories and scientific research facilities.
Green | Mar 9, 2020
BuroHappold commits to all new building projects achieving net-zero carbon by 2030
The engineering firm also launched a long-term partnership with ILFI.
AEC Innovators | Mar 5, 2020
These 17 women are changing the face of construction
During this Women in Construction Week, we shine a spotlight on 17 female leaders in design, construction, and real estate to spur an important conversation of diversity, inclusion, and empowerment.
AEC Innovators | Aug 27, 2019
7 AEC industry disruptors and their groundbreaking achievements
From building prefab factories in the sky to incubating the next generation of AEC tech startups, our 2019 class of AEC Innovators demonstrates that the industry is poised for a shakeup. Meet BD+C’s 2019 AEC Innovators.
AEC Innovators | Aug 27, 2019
How engineering giant BuroHappold democratizes tech innovation
The firm's Computational Collective initiative presents employees with “a different way of thinking and working.”