Regal Hotels Group breaks ground for green project in the metaverse

Regal Hotels Group has checked into the metaverse with MetaGreen, a project to develop an ESG (environmental, social, and governance) themed plot of “LAND” in The Sandbox, a decentralised gaming virtual world and subsidiary of Animoca Brands. 

As an estate LAND NFT within Mega City 2, MetaGreen will be the Sandbox’s first green metropolis and represent an exciting ecosystem that will positively harness blockchain, tokenisation, GameFi, play-to-earn and NFTs. 

Scheduled for completion by October 2022, MetaGreen is intended 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 also empower socially inclusive and environmentally sustainable impact in the world,” said Poman Lo, vice-chairman and managing director of the Regal Hotels Group.

“Accelerating the transition to carbon net zero, MetaGreen is a collaborative ecosystem of likeminded partners co-creating a progressive green movement to inspire decarbonisation and behavioural changes in the consumer and business communities,” said Lo.

She said their group is acutely aware of the environmental impact of proof-of-work protocols, which spurred the decision to partner MetaGreen with The Sandbox, due to its current migration to the eco-friendly Polygon blockchain and its carbon offset pledges. 

As part of the Regal Hotels’ own pledge, MetaGreen has already purchased more than double the verified carbon credits necessary to reverse its limited Ethereum emissions.

The development of MetaGreen is being supported by partners Hang Seng Bank, the School of Business and Management of The Hong Kong University of Science and Technology (HKUST Business School) and UOB. Also, City Super Group has been engaged as a retail partner. 

Regal Hotels have purchased what is known as an “estate” or a group of individual lands merged into a larger parcel, which will be a green virtual district in Mega City 2 and the first sustainability-themed metropolis in The Sandbox. 

At present, there are six interactive districts that make up the MetaGreen virtual estate — Regal Hotels’ green hotel & residence, MetaGreen Convention Center, MetaGreen Mall, Art Park, MetaGreen Academy, and Virtual eco-travel.

Accessibility and inclusivity are core elements to MetaGreen, as The Sandbox requires only a laptop or desktop computer with an approach quite similar to a traditional computer game. 

Targeting everyone from Generation X to Generation Z and people of all genders, ethnicities, religions and professions, Regal Hotels sees approximately two-thirds of Hong Kong’s population, a user base of 5 million, as potential MetaGreen netizens.