In a Wednesday announcement, The Sandbox—a subsidiary of Animoca Brands and a virtual world based on cryptocurrency technology—stated they’ve entered multiple Hong Kong partnerships and are slated to create a “megacity” in the Metaverse.
Some of the partners who bought land in The Sandbox include Hong Kong actress and model Shu Qi, PWC Hong Kong (a professional services company), and Adrian Cheng (Hong Kong famous tycoon).
According to the announcement, The Sandbox is slated to become “a new cultural hub” and it’ll create an exciting district of Mega-City that will showcase talents [of both Qi and entertainment star Steven Fung] and [their] love for art and culture.”
The Sandbox collaborated with more partners
This week alone, the project’s native token SAND has shed 7% of its value, but in the last fortnight, it has gained 6%. This token global trading volume is approximately $672 million and has a market valuation of about $5 billion today.
The Sandbox marketplace ranks 25th globally with estimated sales of about $15 billion. Details from the upcoming land sale suggest the company’s new estate is visible from the firm’s virtual world map.
Premium virtual land will come with exclusive non-fungible tokens (NFTs), and the ability to host events on the property, according to The Sandbox.
Following their announcement of unveiling the megacity on the Metaverse, The Sandbox claims to have collaborated with at least 165 partners, including The Walking Dead, Snoop Dogg, Adidas, CryptoKitties, Atari, Care Bears, The Smurfs, PWC Hong Kong, and the South China Morning Post.
Stars to showcase exclusive NFTs in The Sandbox
Besides director Stephen Fung and actress Shu Qi (both award-winning entertainment stars in Hong Kong) showcasing exclusive NFTS in The Sandbox, enthusiasts of the Metaverse and Sandbox users will acquire land just next to the Mega-City region.
The blockchain virtual world startups megacity announcement explains that the official sale of land will take place early next week.
“To celebrate the new partners, The Sandbox will launch a new LAND sale on January 13th, 2022 that will allow players to purchase choice sports near the LAND’s of the partners announced today.”
So far, The Sandbox and Decentraland projects are in high demand as the Metaverse hype, NFTs, and web3 record exponential growth in recent times.
While plans are underway to launch a megacity, The Sandbox will mainly leverage non-fungible tokens technology to achieve its overall goal.
The Sandbox is a virtual metaverse where players can play, build, own and monetize virtual experiences, and it generates cryptocurrencies such as Bitcoin for users.