April 1, 2023

MetaTerrace, the mixed reality lounge-restaurant in Dubai

ColossalBit, a Dubai-based consulting, advisory, design, and development company for cryptocurrency, blockchain, and NFTs, has launched MetaTerrace, a lounge restaurant in the Central Park Towers, Dubai International Financial Centre (DIFC). MetaTerrace is a one-of-a-kind establishment converging the digital and physical worlds, in line with the principle of the metaverse. 

Located in the Central Park Towers, the ultra-modern space at Gate 32, DIFC, MetaTerrace is set to go live on 30th December 2021. Predicated on the metaverse, the lounge-restaurant offers night-life enthusiasts, the blockchain community, and thrill-seekers a unique opportunity to get a glimpse of what the digital future looks like. 

The MetaTerrace will have it own VR room that will facilitate “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 on 30th will accompany live DJ music and several surprises by ColossalBit. The launch will be broadcasted by Ibiza Global Radio, which has a reputation that precedes itself in the world of house music.

“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,” said Ciro Arianna, Co-Founder and CEO of ColossalBit and MetaTerrace.

Facebook’s recent rebranding to “Meta” has fuelled discussions on metaverse and how blockchain-linked asset classes like NFTs and crypto fit the narrative. Several leading brands have since made a foray into virtual ways, 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. 

“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,” said Christian Chalfoun, CTO of ColossalBit and Kaloscope.

ColossalBit is an early investor of Kaloscope, a social metaverse start-up, 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 so people will be able 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. For Dubai’s part, however, its continued strides in NFTs and metaverse are largely owed 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 S.T. 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.

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