MetaHollywood Aims to Become Largest Hollywood-Themed Metaverse

MetaHollywood aims to become the largest online community within a Hollywood-themed metaverse created as a joint venture by Animoca Brands and the Planet Hollywood Group.

Movie lovers, studios, and creators will be able to interact within the metaverse and it will also consist of a marketplace for digital collectables. The entire experience is powered by blockchain technology and the joint venture's native utility token.

Planet Hollywood is the creator and worldwide developer of a consumer brand that capitalizes on the universal appeal of movies, television, sports, music and other leisure-time activities.

Animoca Brands commented on the partnership and said that " The MetaHollywood joint venture will transform the awe-inspiring Hollywood experience into a Web3 metaverse that benefits and reaches more supporters, studios, and creators globally within a virtual environment."

The MetaHollywood joint venture will help in the creation, ownership, interaction, distribution, and sharing of digital collectables, movies, clips, and other assets as non-fungible tokens (NFTs).

"The new platform will provide a community for collectors to own uniquely famous pieces of film history in the form of NFTs as well as to share, interact with, and experience the digital assets in a purpose-built metaverse fueled by the utility of its native token," Animoca Brands announced.

Over 60,000 of Planet Hollywood’s iconic motion picture memorabilia encompassing all popular film genres will also be tokenised by MetaHollywood.

Planet Hollywood founder Robert Earl, said, "through MetaHollywood, we will offer utility and functionality that is unrivalled in this burgeoning sector."

While Yat Siu, the co-founder and executive chairman of Animoca Brands, commented: “The MetaHollywood joint venture will create tremendous opportunities by leveraging Planet Hollywood’s vast network of celebrities and IPs and combining them with our industry expertise and our broad portfolio of products and companies.”

In another major partnership, Hong Kong's MTR Corporation has joined The Sandbox - subsidiary of Animoca Brands - metaverse.

Blockchain.News reported that Hong Kong's MTR Corporation has become the first global transport operator to join The Sandbox metaverse to create new and immersive experiences in the virtual world.

The partnership will allow the local railway company to explore the metaverse and create new and immersive experiences in the virtual world. The MTR Corporation plans to build a railway-focused virtual space in the metaverse to create unique immersive experiences through gamification and engage creators to collectively build this new community platform.

The Corporation has also acquired a plot of land in The Sandbox metaverse where the company plans to build an immersive virtual station. By doing so, the Corporation is particularly targeting to increase interaction with the younger generation through Web3 and metaverse.

The gamified virtual station will be built in replication to the physical railway environment and players will experience an MTR journey that will be more than taking a ride, the Corporation said.