TerraZero Technologies Inc. (“TerraZero” or the “Company”), a vertically integrated Metaverse technology company, announces that it has acquired one of the most significant estates in Decentraland to build the premiere entertainment destination in the Metaverse. The company envisions that this destination will include immersive experiences like virtual concerts, film screenings, shopping, cultural and educational experiences.
In addition, the company announces that renowned technology executive and Decentraland entrepreneur and district leader, Mr. Carl Fravel, has joined the Company as a strategic advisor. Effective immediately, Mr. Fravel will bring his Metaverse strategy and execution expertise to TerraZero’s growing portfolio of products and services, including its Metaverse Studio used for builds and deployments across Metaverse worlds.
As part of the new partnership, Mr. Fravel sold a portion of his personal collection of prime strategic virtual real estate, 185 parcels in total, which he has held since the launch of Decentraland, for a combination of shares and cash from TerraZero. The 185-parcel estate has an estimated market value of approximately US$ 2,775,0001. Mr. Fravel sees this transaction as a watershed moment for business and ecommerce in the Metaverse, as he commented:
“I see the Metaverse in the early stages of a paradigm shift to deep substance – major entertainment, highly functional real estate, Web3 commerce, experiential advertising, education, telemedicine, and entirely new use cases. The opportunities within the Metaverse of benefit to humanity are endless and I can’t wait to help support and grow TerraZero, a company whose vision, leadership and ethics I have greatly admired. I am thrilled to be a significant shareholder of TerraZero and I am excited to watch the future of the Metaverse unfold.”
Since its formation in 2017, Mr. Fravel acts as key advisor and district leader for Decentraland, develops and enhances the Decentraland Conference Center (https://dclconf.com) as its founder, supports various official Decentraland districts like Aetheria, Virtual Reality Shopping, Decentraland University and Chobury as member of their district leadership teams, and was appointed as Chancellor of Decentraland University.
TerraZero intends to build a massive cityscape across part of the 185-parcel expanse—one which could be one of the largest undertakings across the Metaverse. If Mr. Fravel represents the generation which saw the rise of the Metaverse, from Second Life to Decentraland, TerraZero’s simultaneous acquisition of BEAR NFT represents a torch passing from one generation to the next. BEAR NFT, Co-Founded by TerraZero’s Chief Metaverse Officer, Ryan Kieffer, has hosted and built some of the largest and most successful Metaverse events, including the first live music festival. In being acquired by TerraZero, BEAR NFT’s know-how and execution bolsters TerraZero’s already growing roster of Metaverse-veteran talent, which will serve to be integral as TerraZero now takes on their 185-parcel acquisition from Mr. Fravel. Ryan Kieffer has big plans for the virtual land:
“The Metaverse will be about creating immersive spaces where people can do everything they enjoy in the real world, but in the virtual world. We want to build a city-like environment akin to Epcot or Universal Studios where users can start exploring in the morning, and go until the end of the night without even scratching the surface of what is possible. Excursions, shopping, concerts, film premieres, museums, attractions—it all needs to be there and larger than life.”
Dan Reitzik, Blockchain-veteran and CEO of TerraZero, states:
“Our Company and the whole team are really honored to include such impressive Decentraland entrepreneurs like Carl Fravel and Ryan Kieffer on our team. Together with Carl Fravel’s wisdom and direction from Ryan Kieffer, TerraZero will focus on creating state-of-the-art solutions to further enhance the scope of what is possible in the Metaverse, for the creation of thriving new economies and impressive user experiences that will shape the implementation of Web 3.0 and create a better future for all.”