award-winning global hotel brand citizenM becomes the first to buy a property in The Sandbox
citizenM – the pioneering affordable luxury hotel brand – announced yesterday that it will acquire land in The Sandbox, a video game subsidiary of Animoca Brands, to launch the construction of a hotel in the metaverse. This move marks a new milestone in the hospitality industry, as citizenM will be the first-ever hotel group to buy land in The Sandbox.
Recently featured as a metaverse pioneer by The Wall Street Journal and CNBC, The Sandbox is a metaverse where users can create and monetize their own worlds and gaming experiences on virtual lands.
After focusing on building customer loyalty during the pandemic, in particular with the launch, in the test phase, of a subscription and its new version which will be announced in the coming weeks, citizenM is now focusing on building loyalty. in the online world.
As with all of its hotels, citizenM will put art first, showcasing and selling future collections of NFTs that will be commissioned from emerging digital art talent. Once the land is purchased, citizenM aims to fund the construction of a hotel in the virtual world through the sale of an exclusive collection of NFTs, with associated real-world rewards.
Each of the 2,000 NFTs will have the same price, but buyers will be randomly assigned one of three tiers: 1,500 Citizens” ordinary “, 450 citizens “ specials “and 50 citizens” legendary “. Rewards will take the form of discounts, free drinks and more, and will also be determined by the level of NFT assigned to the buyer. Rewards will be redeemable at any hotel in citizenM’s growing real-world portfolio.
We are thrilled to be the first hospitality company to be built in the Metaverse
shares Robin Chadha, CMO of citizenM. As a brand that has always pushed boundaries and challenged traditional models, this new venture into the Sandbox aligns not only with our brand strategy, but also with the commitment we have to the creative community and our guests, both online than in the real world. We’re excited to explore more of the possibilities Metaverse offers in the years to come.
Once the virtual hotel – a place where avatars who visit The Sandbox can work, sleep and play – is built, citizenM will work with new digital artists to create and sell NFTs that can be purchased in the digital space.
Eventually, the brand plans to use these profits, and create a Decentralized Autonomous Organization (DAO), to fully fund physical, real property where token holders will vote for the location. In line with the brand ethos, citizenM will ultimately build a hotel for the people, by the people.
citizenM was launched in 2008 with one goal: to shake up the traditional hospitality industry. Rattan Chadha, founder of international fashion brand Mexx, was inspired by his employees to create a hotel for modern travelers, offering them everything they need and nothing more. That means central locations in the world’s most exciting cities, but at an affordable price. Not just a place to sleep, but a place to work, relax and play, just like home. A place with super-fast free Wi-Fi, technology that makes life easier and a good bed to rest at the end of a long day. Rattan Chadha called this philosophy “ affordable luxury for all ».
