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In Decentraland and the Sandbox’s Metaverse, Asian Billionaires’ Hotel Groups Create Virtual Lands

Millennium Hotels and Resorts, owned by Singaporean billionaire Kwek Leng Beng, and the Regal Hotels Group, owned by the Lo family, are taking their first steps into the metaverse by purchasing virtual properties on blockchain gaming platforms Decentraland and the Sandbox.

On Wednesday, Millennium Hotels and Resorts, a hospitality brand owned by Kwek’s City Developments, announced the opening of a hotel in Decentraland, a virtual world where users may build, purchase, and trade in-game assets while interacting with other players.

Image : Regal Hotels is developing a virtual city

“As we look towards the future, we need to look past the traditional model of hospitality and engage our guests through new immersive experiences,”
So, says Kwek, executive chairman of City Developments.

“We hope to redefine hospitality through M Social Decentraland by creating online adventures that integrate with real life events.”

Image : The M Social Decentraland virtual hotel developed- MILLENNIUM HOTELS AND RESORTS

The M Social Decentraland hotel, according to Millennium Hotels, wants to become “a place for anyone to gather ization discover the virtual reality cosmos” in the metaverse platform.

In early May, players will be able to check into the virtual hotel. Visitors will have the opportunity to interact with an avatar who will guide them through the building and win “real world hotel delights.”

Millennium Hotels has stated that it will look for opportunities to collaborate in the metaverse platform. The hospitality firm went on to say that it will tie its virtual hotel around real-world events like Valentine’s Day and New Year’s.

Meanwhile, Regal Hotels Group, chaired by Hong Kong’s rich Lo family, announced on Monday that it is building a “green city” on the Sandbox, the metaverse platform owned by Animoca Brands, a Hong Kong-based blockchain gaming company.

The virtual city, dubbed MetaGreen, aims to “encourage eco-friendly choices and develop a sustainable society to support a circular economy,” according to Regal Hotels. A convention center will be built in the city for conferences on environmental, social, and governance (ESG) issues.

It will also have a shopping mall in partnership with Hang Seng Bank and other retail brands, an art gallery, an eco-farm, and an academy that will promote sustainability in association with a Hong Kong university.

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