Regal Hotels Group (or the “Group”, Stock Code 78) today announced its entry into the metaverse with MetaGreen, an ESG (environmental, social and governance) themed land development project in The Sandbox, a leading decentralized virtual gaming world and subsidiary of Animoca Brands.
Regal Hotels Group enters the metaverse with MetaGreen, the 1st Green Metropolis in the Metaverse #metagreen#regalhotels#greenmetropolis pic.twitter.com/Md4s7QmrDF
— METAGREEN by Regal Hotels (@metagreen_city) April 25, 2022
As a land-based NFT within Mega City 2, MetaGreen will be The Sandbox’s first green metropolis and will represent an exciting ecosystem that will positively leverage blockchain, tokenization, GameFi, play-to-earn and NFTs. Scheduled for October 2022, MetaGreen aims to promote green choices and foster a sustainable community to support a circular economy.
🌆 We’re going back to MEGA CITY! 🌆
We are expanding upon the finest of Hong Kong culture with the second part of our LAND sale centred around the Mega City district inside #TheSandbox!
👉 Thursday 28th April @ 1pm UTC! https://t.co/xHu9xeBw4z pic.twitter.com/NkgJvUHIZu
— The Sandbox (@TheSandboxGame) April 25, 2022
Ms. Poman Lo, Vice President and General Manager of Regal Hotels Group, explained,
“Sustainability and technology have long been at the heart of our group’s DNA and are passionately infused into our corporate initiatives and strategic investments. Web3 and metaverse technologies will not only alter every facet of our daily lives, but also empower a socially inclusive and environmentally sustainable impact on the world. Accelerating the transition to net zero carbon, MetaGreen is a collaborative ecosystem of like-minded partners co-creating a progressive green movement to inspire decarbonization and behavioral changes in consumer and business communities.”
“The metaverse, blockchain and NFT are here to stay, and our investment in The Sandbox places Regal Hotels among the first hotel groups in the world to take a bold, leadership role in the next iteration of the Internet. The MetaGreen project strives to inspire, educate and catalyze a more sustainable future by mobilizing a green ecosystem of like-minded partners who will co-create this path to net zero carbon with us as we leverage the latest blockchain technology and immersive new media.”
The Group is acutely aware of the environmental impact of proof-of-work protocols, which drove the careful decision to partner MetaGreen with The Sandbox, due to its ongoing migration to the Polygon green blockchain and its carbon offset commitments. As part of the Group’s own commitment, MetaGreen has already purchased more than double the verified carbon credits needed to reverse its limited Ethereum emissions.
MetaGreen represents the Group’s three distinctive strengths. First, Regal Hotels’ focus on customer-centric innovation to elevate guest experiences, such as in 2001, when www.regalhotel.com became the first hotel website in Hong Kong to offer online room booking, or in 2014, when iclub became the first hotel brand in the city to use mobile key technology.
Second, the Group continues to demonstrate its ongoing commitment to sustainability and purpose-driven business initiatives. In 2010, the Wanchai Iclub became Hong Kong’s first carbon-neutral hotel. The Group also seeks to connect with the new environmentally conscious generation by extending its environmental values to the metaverse.
The latest competitive advantage is the Group’s well-demonstrated partnership network. MetaGreen already has a wide synergistic network of leading industry partners, such as Hang Seng Bank, Hong Kong University of Science and Technology School of Business and Management (HKUST Business School) and UOB, who have already confirmed their presence and support.
Ms. Diana Cesar, Executive Director and CEO of Hang Seng Bank, said,
“We are delighted to be part of the visionary MetaGreen project. This innovative concept is in line with Hang Seng’s strong aspiration to be an ESG leader in the local banking sector. We intend to make our operations carbon neutral by 2030 and support our customers in the transition to a low-carbon economy. Raising awareness, inspiring young people and encouraging them to take their future into their own hands is also key to achieving this. Hang Seng’s presence at MetaGreen will provide a dynamic new venue for the Bank to foster greater community collaboration, particularly among younger people, to address key ESG issues and global challenges such as climate change, with the vision of building a greener tomorrow.”
Professor Tam Kar Yan, Dean of the School of Business at HKUST, said,
“With the metaverse hailed as the new frontier of the Internet, we are excited to be part of this industry partnership and explore through the MetaGreen platform the interplay between sustainability education, business and the metaverse, in order to leverage the immersive experience of the metaverse to open up new possibilities in business education and contribute to Hong Kong’s green future.”
Ms. Christine Ip, Managing Director of UOB in China, said,
“Sustainability is now an imperative with collective will among community stakeholders to change business practices and lifestyles for the greater good. As a leading financial institution in Asia, UOB takes our responsibility to shape a sustainable future seriously. We strive to sharpen our focus on helping businesses move forward responsibly, directing consumer wealth towards sustainable investments and promoting social inclusion and environmental well-being. We are pleased to work with Regal Hotel Group to create value for our stakeholders from an artistic and cultural sustainability perspective. Our MetaGreen collaboration offers a perfect opportunity for art and technology to converge as one. Through this, artists and art enthusiasts can explore works of art and, participate in virtual art events like never before in this fast-paced digital world.”
In addition to the aforementioned strategic partners, MetaGreen is pleased to have City Super Group as a sustainable retail partner. Mr. Thomas Woo, President of City Super, said.
“City Super Group is committed to delivering superior quality of life to our customers with the core value of “creating a better lifestyle”. We are delighted to join forces with Regal Hotels Group, enabling us to create truly innovative eco-friendly experiences at MetaGreen, the first green metropolis in The Sandbox metaverse, for new and existing customers.”
Regal Hotels has acquired what is known as an “estate,” or a group of individual parcels of land merged into a larger parcel, which will be a virtual green district in Mega City 2 and the first sustainability-themed metropolis in The Sandbox. Currently, there are six unique interactive districts that make up the MetaGreen virtual estate:
- Regal Hotels’ green hotel and residence will showcase the latest sustainable proptech innovations and promote financial inclusion in the world’s most expensive real estate market, where the Group will initially sell about 100 units as NFTs.
- MetaGreen Convention Center: as The Sandbox’s first MICE (meetings, incentives, conferences and exhibitions) facility, where ESG-related sustainability conferences will be held, demonstrating the next generation of interactive corporate events in the metaverse.
- MetaGreen Mall: the first sustainability-themed metaverse shopping mall that will cater to Hong Kong consumers who prefer virtual shopping to traditional physical malls, while offering immersive and creative O2O experiences.
- Art Park: a green art gallery that will serve as a platform for artistic innovation and sustainability awareness.
- MetaGreen Academy: the first metaverse-based high school green curriculum developed in collaboration with HKUST Business School as a non-profit initiative of the Bodhi Love Foundation, a Section 88 charity founded in 2013 by Ms. Poman Lo.
- Virtual Ecotourism: a metaverse biosphere promoting biodiversity and organic farming online.
Accessibility and inclusiveness are key elements of MetaGreen, as The Sandbox only requires a laptop or desktop computer with an approach quite similar to a traditional computer game.
Aimed at everyone from Generation X to Generation Z, and people of all genders, ethnicities, religions and professions, Regal Hotels believes that approximately two-thirds of Hong Kong’s population, a user base of 5 million, are potential MetaGreen internet users.
In the coming months, MetaGreen will announce more details about its pioneering decarbonize-to-win model and will continue to invite other ecosystem partners who share its vision and intent to build a greener tomorrow.
To learn more about MetaGreen, visit: https://www.metagreen.city
About Regal Hotels Group:
Founded in 1979 and listed in Hong Kong since 1980, Regal Hotels Group (00078) is one of Hong Kong’s largest hotel operators, with more than 8,200 rooms and some 60 restaurants and bars in its portfolio, as well as properties in mainland China, the United Kingdom and Spain.
Regal Hotels is a subsidiary of Century City (00355), a diversified group of five Hong Kong-listed companies with core businesses spanning investment holding, property development and investment, hotel operation and management, hotel ownership and other investments.
Strategic partners (in alphabetical order)
About Hang Seng Bank:
Widely recognized as Hong Kong’s leading domestic bank, Hang Seng continuously innovates to offer the best customer-centric banking and wealth management services for individuals and businesses.
With its award-winning mobile and digital platforms and more than 280 physical outlets, Hang Seng’s omni-channel service experience enables more than 3.5 million Hong Kong customers to easily manage their financial needs anytime, anywhere.
Its wholly owned subsidiary, Hang Seng Bank (China) Limited, has outlets in some 20 major cities in mainland China to serve the local and cross-border banking needs of mainland Chinese customers. The Bank also has branches in Macau and Singapore, and a representative office in Taipei. For more information, visit www.hangseng.com.
About HKUST Business School:
The Hong Kong University of Science and Technology Hong Kong School of Business and Management (HKUST Business School) is young, innovative and committed to advancing global business knowledge. The School has built an international reputation for its world-class educational programs and research performance, and has received many top global rankings.
Always in pursuit of excellence, the School’s strength lies in its comprehensive program offerings, the high quality of research conducted by a world-class faculty, as well as the diversity and high caliber of its students.
Through its close collaboration with companies, universities and research institutions around the world, HKUST Business School seeks to advance business education and research and contribute to the economic and social advancement of the region.
About UOB:
United Overseas Bank Limited (UOB) is a leading Asian bank with a global network of some 500 offices in 19 countries and territories in Asia-Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions.
UOB is rated among the world’s best banks: Aa1 by Moody’s Investors Service and AA- by S&P Global Ratings and Fitch Ratings. In Asia, UOB operates through its headquarters in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and representative offices throughout the region.
Over more than eight decades, generations of UOB employees have maintained an entrepreneurial spirit, a focus on long-term value creation and an unwavering commitment to doing the right thing for our clients and our colleagues.
We believe in being a responsible financial services provider and are committed to making a difference in the lives of our stakeholders and in the communities in which we operate.
Just as we are dedicated to helping our customers manage their finances wisely and grow their businesses, UOB is steadfast in its support of social development, especially in the areas of arts, children and education.
Sustainable retail partner
About City Super Group:
City Super Group is a Hong Kong-based retail chain and mega lifestyle specialty retailer. Founded in 1996, it opened its first store in the prestigious Causeway Bay shopping mall. Over the years, in the spirit of craftsmanship, it has continued to offer a selection of premium products sourced from around the world for busy urban professionals pursuing a superior quality of life.
Targeting diverse customer segments, the Group currently has 19 stores in Hong Kong, 6 in Shanghai and 8 in Taiwan, with the four brands city’super, LOG-ON, cookedDeli and city’super EKI.
Media Enquiries
Ms. Sherman Wu
Director of Public Relations
Regal Hotels International Limited
Tel : (852) 2837 1628
Email : sherman.wu@regalhotel.com
Ms. Linda Pui
Executive Director and Head of Hong Kong
Citigate Dewe Rogerson
Tel : (852) 3103 0118
Email : linda.pui@citigatedewerogerson.com
Mr. Maxson Tsang
Associate Director
Citigate Dewe Rogerson
Tel : (852) 3103 0111 / 6017 4887
