Currency Group (DCG) and multinational real estate business Jamestown said Wednesday that they will replicate an important cultural location — One Times Square — within the virtual reality platform Decentraland.
One Times Square is a 26-story structure located in the heart of New York City’s Time Square. Every December 31, the New Year’s Eve Ball Drop Celebration takes place on its roof, while the structure itself is owned by Jamestown.
The virtual One Times Square will have its own digital New Year’s Eve Ball and will host a New Year’s Eve party on December 31 at 11 p.m. EST, marking one of the first times a major cultural occasion has been transferred into the metaverse.
DCG Head of Real Estate Simon Koster said in a statement:
“This event highlights how virtual events can cohesively integrate with real ones in an effort to bring once-in-a-lifetime experiences to so many that would have never been able to participate otherwise,”
In 2021, Decentraland became popular as a virtual world platform. Parcels of its digital property have been auctioned for millions of dollars for the creation of retail districts, with firms such as Sotheby’s duplicating their physical premises.