MetaHollywood to Build Largest Hollywood-Themed Metaverse

blockchain.news:

MetaHollywood is building the largest online community within a Hollywood-themed metaverse following a joint venture between Animoca Brands and the Planet Hollywood Group.

Movie lovers, studios, and creators will be able to interact within the metaverse and it will also consist of a marketplace for digital collectables. The entire experience is powered by blockchain technology and the joint venture's native utility token.

Planet Hollywood is the creator and worldwide developer of a consumer brand that capitalizes on the universal appeal of movies, television, sports, music and other leisure-time activities.

Animoca Brands commented on the partnership and said that " The MetaHollywood joint venture will transform the awe-inspiring Hollywood experience into a Web3 metaverse that benefits and reaches more supporters, studios, and creators globally within a virtual environment."

The MetaHollywood joint venture will help in the creation, ownership, interaction, distribution, and sharing of digital collectables, movies, clips, and other assets as non-fungible tokens (NFTs).

«The new platform will provide a community for collectors to own uniquely famous pieces of film history in the form of NFTs as well as to share, interact with, and experience the digital assets in a purpose-built metaverse fueled by the utility of its native token,» Animoca Brands announced.

Over 60,000 of Planet Hollywood’s iconic motion picture memorabilia encompassing all popular film genres will also be tokenised by MetaHollywood.

Planet Hollywood founder Robert Earl, said, «through MetaHollywood, we will offer utility and functionality that is unrivalled in this burgeoning sector.»

While Yat Siu, the co-founder and executive chairman of Animoca Brands,