Monaco takes on the metaverse

Monaco is already showing an interest in this internet of tomorrow. “For a country like Monaco with a powerful brand and an image that captures the world’s imagination, the metaverse is a prime opportunity” explains Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition. In May, the first edition of the Meta Entertainment World Summit, founded by Steven Saltzman, held at the Hôtel Hermitage Monte-Carlo, one of the Monte-Carlo Société des Bains de Mer hotels, brought together nearly two hundred industry pioneers (business leaders, investors, creators, architects, designers and creators of simulated and augmented hybrid universes). The experts who attended included French start-up Orbis Holographics, incubated by LVMH Group, which presented its mist wall with projected holograms and its animated digital reproduction of American actress Scarlett Johansson, which looked astonishingly realistic, and which allowed you to interact without the need for augmented reality glasses. “The metaverse is the web 3.0. It will change the world just like the web 2.0 revolutionised it” predicts Laurent Montrozier, founder of Orbis. 

Some companies have even established themselves in Monaco. “Monaco is the first country in Europe to offer 1 GB/second high-speed WiFi and 5G. It’s the ideal ecosystem” explains Fardi Mohamed, founder of SYS. The entrepreneur, who moved to Monaco from London in February 2022, began taking an interest in virtual reality before it became fashionable, and now wants to “export the metaverse created in Monaco”. In addition to his 360° videos, this new technology pioneer creates immersive videos for estate agency marketing staff, interior designers and yachting industry players. “Virtual reality represents real added value. It allows a client to walk around a house in real time, to get a better feel for space and depth. This visualisation speeds up the buying decision. As for the interior design, the app enables the client to interact with and customise the space as they wish”. Mohamed, who also produces immersive video reports for Monaco Yacht Show, has launched a collective of digital experts and a Digital Zone in Fontvieille to experience the metaverse’s technological innovations.

For the Monte-Carlo Société des Bains de Mer group, as explained by Anthony Chiarel, head of the digital marketing department: “The metaverse is a real opportunity to capture a new target customer who is younger and more connected and to offer innovative services. Many platforms will be introduced in the coming months and years, and in the long-term Web 3.0 will contribute to our being a connected resort like no other in the world.”