Dubai’s MetaTerrace lounge-restaurant opens the door to the metaverse

ColossalBit, Dubai’s crypto consulting, advisory, design, and development company, launches MetaTerrace, a lounge restaurant in the Central Park Towers, Dubai International Financial Centre (DIFC). MetaTerrace is a unique establishment, which is mixing the digital and physical worlds, portraying the principle of the metaverse.

Gulf Digital News announced that the launch of the ultra-modern space at Gate 32, DIFC, MetaTerrace, is planned for December 30, 2021. Focused on the metaverse, the lounge-restaurant located in the Central Park Towers offers the crypto community, night-life enthusiasts, and thrill-seekers a unique experience to get a glimpse into the digital future.

The MetaTerrace will have its own VR room that will facilitate a “metaverse experience.” The VR glasses will enable people to visit alternative worlds, meet like-minded individuals, have drinks, engage in NFT and crypto discussions – all at the fingertips, on a futuristic MetaTerrace. The inaugural event will accompany live DJ music and several surprises by ColossalBit. The launch will be broadcast by Ibiza Global Radio, which has a reputation that precedes itself in the world of house music.

Ciro Arianna, co-founder and CEO of ColossalBit and MetaTerrace, stated:

“With a spectacular view of the Burj Khalifa and Dubai skyline, combined with an option to transact and make bookings in most cryptocurrencies and blue-chip NFTs, MetaTerrace has all the makings to become the center of Dubai’s crypto scene, where enthusiasts and innovators can launch their projects, host meetups, and uphold the community spirit.”

Recently, Facebook’s rebranding to “Meta” has fuelled discussions on metaverse and how crypto-assets like NFTs fit the narrative. Several leading brands have since made a foray into virtual worlds, with Nike recently acquiring RTFKT, a creator-centric, “metaverse-ready” brand. Even Adidas sold its NFT range featuring G-Money, Bored Ape Yacht Club (BAYC), and Punks Comic (a Pixel Vault project) recently, raising more than $23 million in a couple of hours.

Christian Chalfoun, CTO of ColossalBit and Kaloscope, noted:

“If anything, NFTs and the Metaverse are just the tips of the iceberg; we haven’t still seen their full potential and the impact they’re going to have on our future.”

ColossalBit is an early investor of Kaloscope, a social metaverse startup looking to consolidate a fast-growing yet fragmented NFT sector.

“Kaloscope is innovating the NFT space by providing a platform to project, collect and interact with NFTs in mobile AR/VR/XR. Creating a new and easier way to share your NFT collection with friends while allowing users to own exclusive metaverse spaces. Kaloscope also offers exclusive passes where holders can unlock perkabilities in the real world like special surprises coming soon at the MetaTerrace,” added Kirck Allen, CEO and co-founder of Kaloscope. The MetaTerrace VR room will also be available later in 2022, where people will interact and enjoy a unique metaverse experience.

NFTs and metaverse-related developments are expected to find greater momentum soon as digitalization makes inroads into every facet of life. However, for Dubai’s part, its continued strides in NFTs and metaverse are owed mainly to its efficiency-driven governance and local trailblazers like ColossalBit.

The company’s portfolio includes the world’s first augmented reality NFT mural called “Future NFT Dubai,” the infamous ST Dupont pen that football legend Diego Armando Maradona used in 1984 when he signed for Italian side Napoli, and the world’s first NFT-linked fine dining and art experience, among other inspiring collections and initiatives.

In recent times, Dubai has been promoting tourism and recreational activities, which are essentials during the pandemic-ridden period, bringing together the traditional forms of art-market interaction, considering the non-material essence of digital art and new mechanics offered by the crypto economy.

For instance, the Theatre of Digital Art and Generative Gallery has organized an exhibition of immersive digital art of seven modern artists worldwide in Dubai, featured by NFT exposition and sales. The event is held from November 23 to February 28, 2022, at the Souk Madinat Jumeirah, Dubai.