A Hollywood-themed metaverse of immense scale is currently in development. The creator emphasizes that this virtual environment will present a significant opportunity for movie enthusiasts, producers, and studios to come together.
As you are aware, the concept of the metaverse, described as the future of the internet, is bringing various aspects of the real world into a virtual environment. Many things that exist in reality are now finding their virtual counterparts in the metaverse.
It seems that the focal point of the entertainment industry is now shifting to the Hollywood metaverse. Accordingly, this virtual environment, where film enthusiasts, movie studios, and producers can interact, is expected to include a marketplace for digital collectibles. It is mentioned that this experience will be powered by blockchain technology and the native support token of the joint venture.
The largest Hollywood-themed online community in the Metaverse: MetaHollywood
Animoca Brands and Planet Hollywood Group are reportedly teaming up to establish the largest online community within a Hollywood-themed metaverse. In their joint venture, MetaHollywood, they aim to transform the Hollywood experience into a Web3 metadatabase, benefiting and engaging a broader audience of supporters, studios, and creators in a virtual environment.
The collaboration intends to facilitate the creation, ownership, interaction, distribution, and sharing of digital collections, movies, clips, and other assets as NFTs (Non-Fungible Tokens). MetaHollywood is expected to tokenize over 60,000 iconic cinema memories from Planet Hollywood, spanning various popular movie genres.
Planet Hollywood founder Robert Earl mentioned, “Through MetaHollywood, we will deliver unmatched benefits and functionality in this burgeoning industry,” while Yat Siu, Co-founder and Chairman of Animoca Brands, expressed, “The MetaHollywood joint venture leverages Planet Hollywood’s extensive network of celebrities and IPs, combining them with our industry expertise and broad portfolio of products and businesses, presenting tremendous opportunities.”
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