Into the Metaverse: Dubai-based company to launch mixed-reality restaurant

ColossalBit, a Dubai-based cryptocurrency firm, has announced the launch of a Metaverse-inspired lounge/restaurant called MetaTerrace.

Located in the Central Park Towers, Dubai International Financial Centre (DIFC), MetaTerrace will uniquely offer physical and virtual immersive night-life experiences for its customers.

A VR room in the MetaTerrace would unite the physical and digital world to facilitate the “metaverse experience.” VR headsets would allow visitors to visit interactive digital spaces where they can connect with other like-minded individuals and relax with a drink.

MetaTerrace’s inaugural launch will go live on December 30, and Ibiza Global Radio will broadcast the launch. The event will also feature live DJ music and other surprises from ColossalBit.

The MetaTerrace VR room will be available later in 2022.

Commenting on the project, Ciro Arianna, Co-Founder, and CEO of ColossalBit and MetaTerrace, said, “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 centre of Dubai’s crypto scene, where enthusiasts and innovators can launch their projects, host meetups, and uphold the community spirit.”

Being a provider of multiple cryptocurrency and NFT services, ColossalBit is a huge believer in the Metaverse.

ColossalBit is an early investor in Kaloscope, a metaverse startup trying to offer solutions in the NFT space. Kaloscope aims to provide a platform that supports interaction and collection of NFTs with mobile VR, AR, and XR (extended reality). Kaloscope also offers features that would be compatible with MetaTerrace.

Facebook drew the world’s attention to the metaverse when it announced its rebranding and name change to “Meta” a few months back. Although the metaverse idea is still in its early stages, it is expected that we will see increased adoption and implementation in the future as various companies launch their Metaverse projects.

MetaTerrace’s concept is one of several existing metaverse projects - we’ve seen virtual musical concerts in the metaverse, and companies are already working on virtual workspaces where staff from anywhere in the world can collaborate on projects in real-time. All these projects offer us a taste of a future that is possible within the Metaverse.

Photo: ColossalBit Management Consultancy