Elvis Evolution, an "immersive concert experience" using artificial intelligence and holographic projection, will premiere in London in November, with shows also planned in Las Vegas, Tokyo and Berlin, the Guardian reported.
The technology will create a life-size digital model of Elvis from thousands of his personal photos and home videos. The hologram will appear as part of a celebration of the star's life and musical legacy following a deal between Authentic Brands Group, owners of Elvis Presley's estate, and Layered Reality, a British immersive entertainment company.
Andrew McGuinness, CEO of Layered Reality, said: "Elvis Evolution is a new generation tribute to music legend Elvis Presley.
"Elvis maintains his status as a global superstar, and people around the world no longer want to stand by and passively accept entertainment, they want to be a part of it."
"This will be an unforgettable experience that will be on the bucket list of Elvis fans and admirers around the world. People will be able to step into the world of the King of Rock, walk in his shoes and celebrate his extraordinary musical legacy."
The show will also offer an after-party with an Elvis-themed bar and restaurant at a central London venue, with live music, DJs and performances.
The initiative follows the remarkable success of Abba Voyage, a show in which life-size avatars of the four members of Swedish pop group ABBA perform their songs as their live counterparts appeared in 1979, in a purpose-built arena in East London.
In the first year of the Abba Voyage, over 1.3 million tickets were sold, and an upcoming world tour was announced. The 90-minute show and arena cost £140 million and have been in development for 7 years.
While Elvis has never disappeared from the cultural landscape, in recent years two big-screen movies have brought new attention to him. Sofia Coppola's Priscilla was released in the UK this week, which takes a sympathetic look at his ex-wife, who lives in his shadow after meeting him at 14 when he is 24.
Although he had been abusing medication and eating unhealthy for years, his death from heart failure was shocking. Conspiracy theorists claimed he staged his death, and there were countless reports of encounters with the legendary star around the world.
According to one of the versions, Presley staged his death to escape from the mafia. Gail Brewer-Giorgio, author of the 1988 bestseller Is Elvis Alive?, claimed that in 1976 the FBI hired Presley as an undercover agent to help him infiltrate a criminal organization called the Brotherhood ".
Brewer-Giorgio claimed: "Elvis faked his death because he was going to be killed and there was no doubt about that."
Some people claim that Presley appeared as an extra in the 1990 blockbuster Home Alone. /BGNES