The hospitality company from Los Angeles The h.wood Group wants to maintain its prestigious status within the next technological frontier in the world: the Metaverse.
The company, led by John Terzian and Brian Toll, has set itself the goal of bringing the h.wood Group's nightclub brand Bootsy Bellows into the digital realm. Working with Alex Shultz, the founder of Looks Rare Studio, they have already initiated several promising developments to cement the brand's digital future.
The club interior, inspired by the variety show, was modeled primarily on Frank Sinatra's house in Palm Springs. Bootsy Bellows is owned by actor David Arquette and is located on one of the most expensive lots in the US on Sunset Boulevard.
However, a new type of land grab is taking place before our eyes. The world's eyes were opened to the rapidly rising valuations of digital land when Tokens.com paid a staggering $ 2.4 million to secure multiple lots in the Decentraland Fashion District, the largest digital lot securing transaction to date.
The h.wood group
As for Bootsy Bellows, while development still requires fundraising to manifest in the metaverse, the team believes the demand for digital nightlife experiences is there. According to The Hollywood Reporter, over the Halloween weekend, the h.wood Group urged clubbers to showcase an NFT in order to gain access and was enthusiastically received by their audience.
"There we saw such interest from the NFT community to really use the coins as a utility company," said Schultz. "Right now, 99.9 percent of all NFTs are just JPEGs."
The team is currently focused on refining its crypto strategy and creating a Bootsy Bellows NFT access pass, which is expected to be released in early 2022.