National – citizenM, a pioneer of affordable luxury hotels, announced it will acquire a LAND site in The Sandbox, a decentralized gaming virtual world and a subsidiary of Animoca Brands, to begin building a hotel in the Metaverse. This endeavor signifies a new movement in hospitality, as citizenM will be the first ever hotel group to purchase LAND in The Sandbox.
The Sandbox is a metaverse where users can create and monetize their own distinct worlds and game experiences on LANDs, which are non-fungible tokens (NFTs) that represent virtual real estate in The Sandbox.
As with all of its hotels, citizenM will bring art to the forefront by showcasing and selling future NFT collections that will be commissioned with growing talent in the digital art space. Once the LAND is purchased, citizenM aims to finance the build of a hotel in the virtual world through the sale of an exclusive collection of NFTs with real-world rewards (utilities) attached.