Kwek Leng Beng, the Singaporean billionaire behind Millennium Hotels and Resorts has purchased land in Decentraland. Also, Hong Kong’s billionaire Lo Family of Regal Hotels Group got land in The Sandbox. Purchasing land in the virtual world platforms, the Singaporean Billionaires are taking their first step into the metaverse.
The Singaporean Billionaire Buying Land in Decentraland
Millennium Hotels and Resorts is a hospitality brand under Kwek Leng Beng’s City Developments. On Wednesday, the hospitality brand announced the launch of a hotel in Decentraland, one of the most popular metaverse worlds.
“As we look to the future, we need to look beyond the traditional model of hospitality and engage our guests through new immersive experiences,” said the executive chairman of City Developments. “We hope to redefine hospitality through M Social Decentraland by creating online adventures that integrate with real-life events.”
Moreover, Millennium Hotels is seeking collaborations in the metaverse platform. In addition, the hospitality brand also has plans to integrate real-life occasions, like Valentine’s Day and New Year.
Regal Hotels Group and Resorts Buying Land in The Sandbox
Meanwhile, Regal Hotels Group revealed the development of a “green metropolis” in the Singaporean billionaire’s land in The Sandbox metaverse. Furthermore, the virtual city MetaGreen aims to “promote eco-friendly choices and foster a sustainable community to support a circular economy.”
“Web3 and metaverse technologies will not only disrupt every facet of our daily lives, but will also enable a socially inclusive and environmentally sustainable impact in the world,” said Regal Hotels VP Poman Lo. “The MetaGreen project aims to inspire, educate and catalyze a more sustainable future by mobilizing a green ecosystem of like-minded partners who will join us in creating this path to carbon neutrality.”