Hong Kong – Game software and venture capital company Animoca Brands and consumer brand developer Planet Hollywood Group have launched a new joint venture called the ‘MetaHollywood’.

MetaHollywood seeks to transform the awe-inspiring Hollywood experience into a Web3 metaverse that benefits and reaches more supporters, studios, and creators globally within a virtual environment for the creation, ownership, interaction, distribution, and sharing of digital collectibles, movies, clips, and other assets as non-fungible tokens (NFTs), including NFTs based on some of Planet Hollywood’s most iconic physical assets including photography, movie posters, and memorabilia.

Moreover, the joint venture will be providing 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. This will include the tokenisation of over 60,000 of Planet Hollywood’s iconic motion picture memorabilia encompassing all popular film genres, providing the community with exclusive benefits and offerings. These collectible props have been used by movie stars from every era including Arnold Schwarznegger, Tobey Maguire, and Michael J. Fox, as well as Jim Carrey, amongst many others, representing classic, pop culture, and modern Hollywood.

Robert Earl, Planet Hollywood’s founder, commented that he is thrilled to partner with Animoca Brands as they launch Planet Hollywood into the metaverse.

“Through MetaHollywood, we will offer utility and functionality that is unrivalled in this burgeoning sector, and I cannot wait to see what our users create using the power of their imagination,” said Earl.

Meanwhile, Yat Siu, Animoca Brands’ co-founder and executive chairman, shared that they are very excited to partner with Robert Earl and Planet Hollywood to bring this iconic brand into the rapidly growing world of Web3. 

“The MetaHollywood joint venture will create tremendous opportunities by leveraging Planet Hollywood’s vast network of celebrities and IPs and combining them with our industry expertise and our broad portfolio of products and companies,” said Siu.

Just recently, Animoca Brands has acquired Darewise Entertainment, a game developer founded by veterans of the AAA games industry that is currently developing a high-quality blockchain MMO game ‘Life Beyond’. Through the buyout, Animoca Brands will be assisting Darewise Entertainment to fast-track development and publishing in the Web3 space.