Club Planned for Web3 Community

Club 3 is coming to Sunset, and an NFT will get you in.

Animoca Brands and Planet Hollywood Group are opening a private space called Club 3, right, on Sunset Boulevard.

Members of the Web3, NFT and open metaverse industries will soon have a physical space in which to connect. Animoca Brands and Planet Hollywood Group, through the joint venture Meta Hollywood, are opening a members-only club called Club 3. It’s scheduled to debut in the second half of the year in a space (yet to be announced) on Sunset Boulevard.

Exclusive social clubs are growing in popularity, and societies for crypto communities have previously proven profitable. Bored Ape Yacht Club, which launched in 2021, is advertised as an exclusive society in which membership is gained through the purchase of a highly sought Bored Ape NFT. Owning a Bored Ape NFT provides access to the online club, though it has no permanent physical venue. Bored Ape Yacht Club reported in 2021 that a set of 101 Bored Ape NFTs sold for $24.4 million at a Sotheby’s auction.

Club 3 may be trying to replicate that success by providing a physical platform for the burgeoning community. The Los Angeles location is set to be the first of many, with venues planned to open in other major cities. Membership will be available as a minted NFT.

“Club 3 will foster and galvanize the broader Web3 community and serve as a launchpad for those wanting to learn more about this new world,” Animoca Brands chief executive Yat Siu said in a statement.

Web3, NFT and the open metaverse have become lucrative industries. According to NFT data resource NonFungible, more than $5 billion in profit was recorded in NFT trading in 2021. Animoca, a venture capital company, reported digital asset reserves of $4.2 billion as of April 30.