Connect with us

Metaverse

Jamestown Lands $425M for One Times Square Redevelopment

Published

on


Jamestown chairman Christoph Kahl and One Times Square (Jamestown LP, iStock)

Jamestown chairman Christoph Kahl and One Times Square (Jamestown LP, iStock)

Jamestown is full-steam ahead in its $500 million metaverse-tinged redevelopment of One Times Square.

The firm landed $425 million in financing from JPMorgan Chase to cover most of the redevelopment, the Commercial Observer reported. About $208 million of debt refinances CMBS date that goes back to Jamestown’s acquisition loan in 1997.

Jamestown also landed an $88.7 million building loan and a $39.8 million project loan. Eastdil Secured’s Grant Frankel and Tanner McNeill were part of the team that brokered the financing.

With financing in place, Jamestown is ready to move forward with its redevelopment of the iconic property, home to the corner’s recognizable advertisements and the New Year’s Eve ball drop. The advertising will remain on while the redevelopment takes place.

Jamestown is planning to open 12 additional floors to the public at the century-old 25-story building, as well as installing a rooftop viewing deck that could come in handy every December 31st.

There’s also a goal to turn the property into something resembling the building’s counterpart in the metaverse, a virtual world hosted in the online world of Decentraland. To that end, Jamestown will be integrating virtual and augmented reality experiences into the design.

Jamestown president Michael Phillips has waxed poetic about the metaverse in the past, claiming it was not something that needed to be feared. Instead, Phillips has said the metaverse and virtual real estate is a natural extension of smartphones and the internet.

“We are reimagining how spaces can be experienced by leveraging the power of AR technology and creative storytelling,” Phillips said in a release regarding the redevelopment.

That belief will be put to the test with the One Times Square redevelopment, a 27-month process expected to conclude and open to the public in the summer of 2024.

[CO] — Holden Walter-Warner



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Metaverse

‘NFTs: Enter the Metaverse’ | Watch the trailer for non-fungible token documentary from ABC Localish Studios

Published

on


In 2021, three otherwise unassuming letters would upend the worlds of cryptocurrency, technology, art, and pop culture all at once. NFTs, or non-fungible tokens, were propelled into the mainstream after an unprecedented $69.4 million sale at the historic art auction house Christie‘s in New York City.

The sale of digital artist Beeple‘s Everydays at Christie’s for $69.4 million marked the beginning of a seemingly unstoppable NFT wave, where everyone from digital artists to mainstream celebrities like Paris Hilton, Mark Cuban, Steve Aoki and many others began creating, selling, and collecting NFTs via cryptocurrency on the Blockchain.

While NFTs initially focused on the importance of ownership of digital assets, they soon also became part of a social movement where groups of creators and collectors began communities based on buying and selling NFTs. Some early examples of these groups include CryptoPunks and Bored Ape Yacht Club, but many more have since risen in popularity as the world of NFTs continues to expand and propels new digital artists, like 17-year-old Diana Sinclaire, to international fame.

Following the journey of digital artist Beeple, aka Mike Winklemann, through the historic sale of his Everydays work, “NFTs: Enter the Metaverse” illuminates the social and economic factors that led to the rise of NFTs as well as the implications of NFT technology on the future of the Metaverse. The documentary features appearances by Paris Hilton, Gary Vaynerchuck, Mark Cuban, Steve Aoki, 3Lau, Rebecca Jarvis, Kelly Crow, Kenny Schacter, Diana Sinclair, Daniel Maegaard, and Karsen Daily.

Watch “NFTs: Enter the Metaverse” premiering on May 21st on ABC (check your local listings), ABC News Live and the Localish Network.





Source link

Continue Reading

Metaverse

Unreal reality: The big leap to capitalise on the metaverse boom

Published

on


Will the rise of the metaverse see a move to not only wearing VR goggles, but full body suits to feel the wind, fresh water and even to act as the protagonist in our favourite movie?

Time will tell. But the sense of reality companies eventually develop, and how people react, will be key for companies, fund managers and investors to capitalise on what has been called the next big disruption – the metaverse. 

In the keynote address at Citywire Montreux 2022, researcher and broadcaster Stephanie Hare delved into the tricky questions that surround the great push towards virtual, augmented or mixed realities.



Source link

Continue Reading

Metaverse

The U.S. military is creating and just tested its own metaverse

Published

on


The military’s version of a metaverse doesn’t quite align with Mark Zuckerberg and Meta’s vision for a virtual world for us to inhabit.

The U.S. military is creating and just tested its own metaverse 02 | TweakTown.com

VIEW GALLERY – 2 IMAGES

Credit: Red 6

Using augmented reality (AR), two fighter pilots completed a high-altitude drill a few thousand feet high over the desert of California on May 10th. Flying a pair of Berkut 540 jets and donning custom AR headsets, the pilots were shown virtual refueling aircraft in the sky, allowing one of the pilots to practice a refueling maneuver with the virtual aircraft.

The augmented and virtual reality (VR) technology, head-mounted displays and artificial intelligence (AI) powered environments being developed by Red 6 allow pilots to take part in virtual dog fights against enemy aircraft and more while pulling several G’s. Red 6 is developing a platform that will allow them to display various scenarios in AR and VR, while using lower latency and higher reliability hardware than consumer-grade AR and VR headsets.

We can fly against whatever threat we want. And that threat could be controlled either by an individual remotely or by artificial intelligence. What we’re building is really a military metaverse. It’s like a multiplayer video game in the sky,” says Daniel Robinson, founder and CEO of Red 6.

AR and VR have become staples of military training of late in projects like Project Avenger and Project BlueShark. Now, the military is setting its sights on integrating various technologies to create more interconnected virtual systems, and recently held a high-level conference in a virtual environment attended by more than 250 people from across the world.

It is an extremely complex type of simulation, especially given the fidelity that the military demands. You can either have live players who are participating in the simulation or [characters] can be AI-enabled, which is often what the military does,” said Caitlin Dohrman, general manager of the defense division of Improbable, a company that develops virtual world technologies.

Adam’s Top 3 Recommended Articles:

Read more: Crazy video shows a test vehicle catapulted toward space at 1,000+ mph

Read more: New DARPA hypersonic missile prototype test flew 5x the speed of sound

Read more: Takers of the first-ever black hole photo have a massive announcement



Source link

Continue Reading
Advertisement
Economy6 mins ago

The recession session II | Financial Times

Cryptocurrency7 mins ago

Volume on BitMEX Spot Exchange surpasses $10M in first 24 hours

Forex8 mins ago

Market Update – May 19 – Fears mount

Tech12 mins ago

I tried (and failed) to channel my inner Bezos

NFT13 mins ago

What’s on Guide to the Metaverse – May 20th-May 22nd, 2022

Metaverse14 mins ago

‘NFTs: Enter the Metaverse’ | Watch the trailer for non-fungible token documentary from ABC Localish Studios

Bitcoin15 mins ago

Terra crash not a risk to the broader crypto ecosystem, says Huobi Global CEO

Real Estate24 mins ago

Classic Raleigh restaurant closing after nearly 50 years in business

Opinion26 mins ago

Why is technological transformation significant for your business? – Expert talks with Hudi Shehu

Markets30 mins ago

Today's Stock Market News – 13/05/2022 | Parimal Ade

Economy1 hour ago

Sri Lanka becomes first Asia-Pacific country in decades to default on foreign debt

Tech1 hour ago

Microsoft tests Windows 11 desktop widgets with web search bar

NFT1 hour ago

Golom – One NFT Marketplace to Rule Them All

Metaverse1 hour ago

Unreal reality: The big leap to capitalise on the metaverse boom

Real Estate1 hour ago

Lee & Associates working to open Pittsburgh office of growing national real estate firm

Opinion1 hour ago

U.S. Supreme Court Delivers Bad News For Immigrants on May 16, 2022

Markets2 hours ago

Gas prices reach record high as U.S. faces diesel shortage

Tech2 hours ago

Democratic lawmakers want FTC to investigate controversial identity firm ID.me

NFT2 hours ago

Leading Solana Game DeFi Land Launches Play-and-Earn Mechanics

Metaverse2 hours ago

The U.S. military is creating and just tested its own metaverse

Real Estate4 weeks ago

‘Selling Sunset’ Star Christine Quinn And Tech Entrepreneur Husband Have Plans To Disrupt The Real Estate Industry

Markets2 weeks ago

NYC Amazon Workers Vote Against Unionizing; Warren Buffett Reveals Big Investments | NTD Business

Opinion3 weeks ago

Stromae – Fils de joie (Official Music Video)

Metaverse3 weeks ago

Metaverse Market: 38% of Growth to Originate from North America | Information by Device (VR and AR devices and computing devices) and Geography

ICO4 weeks ago

One-Minute Blockchain News – April 19, 2022

Opinion3 weeks ago

New Kia Sportage 2022 review

Metaverse1 week ago

Avoiding Metaverse Mayhem: Regulating Virtual Influencers as Nearly Human

Metaverse3 weeks ago

4 ways brands can succeed in the metaverse with influencer marketing | ITB Worldwide | Open Mic

Metaverse4 weeks ago

TerraZero Technologies Inc. Offers Corporate Update & Business Development Amid Rapidly Growing Metaverse Adoption

Metaverse3 days ago

MEET ZEROSIXONE: THE BESPOKE 3D DESIGN STUDIO THAT BRIDGES BRANDS, NFTS AND THE METAVERSE

Opinion4 weeks ago

Why We Need A Mangagement Revolution | Business Revolution: Episode 2 | ENDEVR Documentary

Opinion3 weeks ago

Having a plan is the key to gains…in my opinion! Coffee and Crypto with King #shib #saitama

Markets4 weeks ago

सोयाबीन की नहीं होगी किसानों को कमी Market Times TV #soyabean #soyabeanmandi #soyabeanprice

Bitcoin4 weeks ago

Coinbase NFT launches beta, AMC Theatres rolls out SHIB and DOGE payments, and Blockchain.com eyes IPO: Hodler’s Digest, April 17-23

Opinion2 weeks ago

Volkswagen Tiguan R review – more fun than an SUV should be?

Metaverse1 week ago

the Metaverse of the art-NFT market, with 35 years of unique experience in virtual worlds.

Economy4 weeks ago

IMF and World Bank highlight fragile state of global economy

NFT3 weeks ago

Animoca Leads $3.5 Million Funding Round for NFT Innovators Metakey

Metaverse4 weeks ago

4 questions every CISO should be asking about the metaverse – TechCrunch

Blockchain4 weeks ago

Cricket NFT startup Rario raises $120M in Series A funding

Trending

0