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Macau Makes its Metaverse Debut With APE Holdings' First NFT ProjectMacau unveils its Metaverse ambitions through the Asia Tigers Club NFT project from APE Holdings. The Metaverse is planned to go live in June after a prelaunch event scheduled for late March. Join us as we explore Macau’s Metaverse dream.
Every tech space has recently been awash with the Metaverse buzzword since 2021. And, as time goes by, the reality of the age of the Metaverse edges closer across different industries. Considering the current craze for merging the internet with an immersive virtual world, what’s bigger for the gambling scene than Macau, the world’s largest gambling mecca, entering the Metaverse?
Macau, China’s Special Administrative Region (SAR), is jumping on the Metaverse bandwagon through Asian Pioneer Entertainment (APE) Holdings, a gaming equipment supplier based in the SAR. The incredible milestone comes on the back of an announcement in March when APE disclosed that it would explore ways of venturing into the Metaverse. APE Holdings’ ambitious move will be through its first Non-Fungible Token project, dubbed the Asia Tigers Club.
The Eye of the Tiger
APE Holdings has already laid out a pathway for the country’s first Metaverse experience. The Asia Tigers Club will roar life into the Metaverse project in the form of 8,800 uniquely created tiger PFPs (Profile for Pictures) based on the all too popular Ethereum technology.
It’s worth pointing out that the foundation for this impressive project is built upon the work of Portuguese artist Pedro Lourenco who was inspired by Asian thematic concepts. On top of using a predominant Asian animal – the Tiger, Lourenco also used Chinese ink drawings blended with modern art techniques.
These PFPs are said to embody the tiger’s spirit of strength and adaptability, a trait synonymous with the Asian spirit of recollecting after what has been a crushing season for its tourism. Of course, we all know what impact the Covid-19 pandemic had on Macau and the world’s land-based gambling industry at large. What a befitting epitome of a focus on a resurgence from the ashes of the Coronavirus!
Speaking on the launch of its first NFT, APE Holdings’ CFO and Executive Director Tony Chan said:Quote
“We are really proud to be one of Macau’s first major NFT projects that is building a community of digital art collectors and links them back to travel and leisure in Macau. After many months of travel restrictions, we hope Macau will be the first holiday destination on travelers’ minds. Asia Tigers Club will allow collectors to first experience a digital Macau via our metaverse offerings and when the travel restrictions are relaxing, be the first to come to Macau and gain real-life benefits via our Travel Token marketplace. As the worldwide environment has changed and stopped many travelers from coming to Asia, our vision is to build Asian travel destinations on the Metaverse, so our first foray is to build Mini Macau in the Sandbox Game Maker as a prototype for our upcoming Resortverse project.”
Welcome to the Mini Macau
The Asia Tigers Club NFT will provide a direct link to a metaverse world where virtual and 3D experiences come together. This experience will be called “Mini Macau.” Should you be a holder of this NFT, you will be able to explore the full beauty of Macau, albeit at a virtually enhanced level. All the terrific tourist destinations that you have always wanted to visit in Macau will now come to life under this Metaverse.
Expected to launch around June, this Metaverse experience will be handing tourists digital tokens like the Resortverse tokens that you may redeem in real life if you want to travel and explore Macau. More importantly, the Mini Macau format takes a largely gaming angle which makes sense given that, after all, Macau is largely famous for its gaming exploits. For instance, the Resortverse experience will also integrate a play-to-earn system that could let you earn additional Resortverse tokens that might help bankroll your real-world Macau travel dreams.
And while the full launch of the platform is scheduled for next month, APE intends to roll things off with a prelaunch planned for later this month. The prelaunch is designed as a trial run to smoothen things over with what is a relatively new concept for many people. While it may seem like we have been talking about Non-Fungible Tokens for the longest time, it is still a relatively new form of entertainment. Therefore, for people to slowly take to the tokens, caution must be taken by gradually setting mechanisms that will assist with the understanding of how NFTs work in the first place. Performing a successful prelaunch of the NFTs will help its reception in the long run.
APE Hopes Metaverse Will Propel it Out of Tough Times
The numbers have not looked so rosy for APE, with the scourge of the pandemic hitting it hard as it has done so to many other companies. In March, the company announced a 23.1 million HKD loss in 2021, slightly lower than the 32 million HKD loss reported in 2020.
That being said, the Metaverse presents an exciting new front from Macau’s biggest gaming equipment supplier. The pressure now falls on the new unit created by the company specifically for the Metaverse to see the light of day- The APE Digital creations Ltd unit. Speaking on the confidence pegged on this team, the company released a statement indicating that it had “engaged a team whose members are equipped with vast experience and technical know-how in the development of the Metaverse and related business.”
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