Paris Hilton will sell NFTs and host virtual parties at The Sandbox

This week, Paris Hilton announced that her company 11:11 Media will bring her world into the immersive virtual gaming world of The Sandbox.

There she will launch a “land” where she will communicate with her fans and sell digital goods. The platform said that Hilton is “planning social and social events such as rooftop parties and glamorous social events at her Malibu virtual mansion” – with 11 versions of Hilton-inspired avatars.

The sandbox, which describes itself as a leading “decentralized virtual world” that is “part virtual real estate, part amusement park,” has 300 existing partnerships with companies such as Warner Music Group and video game maker Ubisoft, as well as other celebrities such as like Snoop Dogg and Steve Aoki, as well as brands like The Smurfs and Adidas.

In an exclusive interview with CNBC, Hilton said she wants to bring her own metaverse from Roblox to other platforms.

“Snoop Dogg released his world into it, which is incredible, and I was so excited when I saw it,” she said. “I am very excited to introduce Paris to the world – we are going to work with a couple of other platforms.”

In The Sandbox, she’ll be selling Parisian-style NFTs and throwing virtual parties – but she says it’s just the start of what she hopes to build.

“Now we are mainly focused on experience and not on monetization, because right now it is not the main thing,” Hilton said. “But we’re going to be making digital wearables and working with different brands, and there are a lot of exciting projects that I can’t announce yet.”

Hilton’s first step into the metaverse was when she built “The World of Paris Hilton” inside Roblox late last year. She launched a space with a virtual New Year’s Eve party, where her avatar DJed. Then she performed as a DJ at the Neon Carnival festival dedicated to Coachella. Roblox said nearly 544,000 fans have visited the Hilton virtual world, but did not say how much revenue it brought in.

For Hilton, a virtual presence is an opportunity to reach more people — without the 250-day-a-year travel it did before the pandemic.

“I was DJing in the Maldives on New Year’s Eve. It was my honeymoon and I was playing and there were more people in Paris World than in New York Times Square,” Hilton said. “We had almost half a million people at the neon carnival and 5,000 at the actual party. This is the power of the metaverse where people from all over the world can enjoy and experience what are usually, you know, exclusive events.”

Paris Hilton attends a private screening of ‘Vogue x Snapchat: Redefining the Body’ Interactive Augmented Reality Exhibition Curated by Edward Enninful OBE at the Center des Arts La Malmaison on June 19, 2022 in Cannes, France.

David M. Bennett | Getty Images

Hilton began investing in crypto in 2016 — before the meteoric rise and fall of cryptocurrencies — and has been selling NFTs since April last year. Before that market crashed very recently, she sold one last year for over $1 million. She has also invested in a number of start-ups in the field, including Genies, which creates custom avatars and has attracted investment from former Disney CEO Bob Iger, artist and model Priyanka Chopra, and other luminaries.

Now Hilton is looking at how to connect its real business – like a line of tracksuits – with its digital ones.

“We want to be able to do [something] where people could buy a tracksuit and then also get a digital version of their avatar,” Hilton said. so that they also happen in the metaverse at the same time.”

And it communicates with other metaverse platforms to expand its presence. She didn’t say which ones, but said she loves what Facebook parent Meta does.

11:11 am Media Hilton is private and does not disclose financials, but says the company’s business has doubled from last year and is expected to generate tens of millions of dollars in profits this year.

There’s also no word on how much profit — or loss — she’s made on her cryptocurrency investments over the years, but her company has said it generated $3.5 million in NFT revenue this year.

As for what’s going on with the metaverse and the NFTs it’s been promoting over the years, it’s too early to tell.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button