CitizenM, an Amsterdam-based hotel group, is claiming to be the first-ever to begin building a hotel in the metaverse. The group is planning to purchase a site in the Sandbox, a decentralized gaming virtual world. Building a hotel in the Sandbox metaverse would enable users to create their own worlds and experiences via non-fungible tokens (NFTs) called “LANDs” that represent real estate. Longer term, the company says that it wants to use it profits from the sale of NFTs to finance a real-life property with token-holders deciding its location. (PhocusWire, 04.06.22)

CitizenM is not the first travel company to explore the potential for NFTs and decentralized communities. Disney is among these companies, looking for ways to incorporate virtual concepts more in its theme parks. Additionally, many travel experts believe that whole trips might be organized via the metaverse going forward, with the technology being used to further the sharing economy.

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