On February 15, the European Commission made the announcement that it will be launching the European Blockchain Regulatory Sandbox. The regulatory sandbox will serve as a forum for discussion around 20 new projects each year until the year 2026.
The sandbox was first announced in the year 2020, and it is now being managed by a number of private companies who were successful in winning bids in the year 2022. The Digital Europe Program will be responsible for providing the funding. Use cases from the public and commercial sectors that include “Blockchain and other Distributed Ledger Technologies” will be considered for the selection of projects, which will be done on a competitive basis by an impartial panel of academic experts.
Applicants from the public sector that have initiatives relating to the European Blockchain Services Infrastructure (EBSI) will be taken into consideration. The European Blockchain Standard Initiative (EBSI) is a pan-European blockchain that is managed by a coalition of EU nations, together with Norway and Lichtenstein.
Participants in the yearly sandbox cohort will be paired with national and European Union regulators in order to get private legal counsel and regulatory assistance. At the same time, regulators will have the chance to become familiar with cutting-edge blockchain technology.
The deadline for applications to participate in the first round of projects is April 14. The projects need to have a proof of concept that has been verified according to the standards, and they need to have a dimension that crosses borders.
The projects that have already been selected for deployment by public authorities will be given precedence. The European Economic Area is where a company’s headquarters should be located (EEA). As long as the EEA-based firm is the one to ultimately benefit from the initiative, these companies are allowed to work in partnership with enterprises headquartered outside of the EEA. Participants should not expect to have any of their costs repaid.
The chosen projects will each be provided with a written legal evaluation, which will be followed by two virtual meetings with the involved regulators. Additionally, applications are being accepted for the EBSI Early Adopters incubator program, which is now in its third cohort.
In the Financial Services Innovation bill that was being introduced in the United States House of Representatives by Patrick McHenry, a comparable sandbox program was suggested. In the next iteration of the United Kingdom’s changes to its financial services industry, a sandbox program of a similar kind may also be included.
Hong Kong-based start-up PANGU, a metaverse agency appointed by Sandbox, is helping clients to enter into the metaverse by providing asset creation and branding consultation services. The company said it is building various business models, including the play-to-earn (P2E) model for clients to support its growth.
Kenny Ng, the founder of PANGU by Kenal (left) believes the Metaverse would be the tendency of the future; and Zero Chung (right) thinks that providing customied solutions to clients is key advantages of the company.
Interior designer in the Metaverse
Stepping into the office located at Kowloon Bay, Eastern Kowloon in Hong Kong, a mini botanical garden has been set up at the base’s main entrance. Agave americana, more commonly known as Century Plant, and other various potted plants are growing under the care of the owner. The vibe of the working environment and its inspirations also come from the green belief.
PANGU, the visual design production company established as its affiliate of the Kenal Group, has hired over 20 staff and still rapidly expanding. Kenny Ng, Founder of PANGU by Kenal, established his team around eight months ago. Ng shared his experience with Blockchain.News, “just like other start-up companies, we are gradually expanding our scale, starting from building up our products with designers, then developing business and marketing teams at the following stage.”
Furthermore, the company plans to establish community management in the long term, PANGU’s Ng shared his ongoing business plans to Blockchain.News.
This company has connected with the Sandbox since last November in 2021 and was just appointed as the official TSB Metaverse agency in April, which is rare for HK-based startups in the global market. According to PANGU, the agency raised its capital independently followed by grants from Sandbox’s “game maker fund”, which aims at connecting with the next generation and the tendency of web 3.
These services support its business growth by providing a one-stop solution, including land purchase with development, offering marketing strategy, digital assets creation and branding collaboration for clients from online to offline.
Kenny Ng, Founder of PANGU said:
“As an agency of (the Sandbox), we wish we are able to provide complete solid service with own our resources, instead of outsourcing works to other parties, which is not practical. So, that would be our direction in practice.”
“Our partnership (between Sandbox and clients) is more like property developers, and we play our role as the builder and property management unit as a contractor, offering consultations for clients on how to develop their own lands and promote their branding through online and offline activities,” Chung added.
Projects such as Metagreenor clients from Standard Character are part of their key clients, these corporate firms have entered into the Metaverse through the Sandbox. In the project of Metagreen, PANGU said they are mainly responsible for purchasing land and its development, non-fungible token (NFT) creation, but also partnerships from online to offline, including partnerships with NFT gallery, NGOs and running other community channel management, such as Discord.
The founder told Blockchain.News that “in this early stage of the Metaverse, most clients are still discovering and exploring what they can do after investing in these virtual lands. Some clients prefer to shape a revolutionized image and identity in the virtual space, while some clients prefer to promote their branding traditionally,” adding that “we are working together with clients to find out a potential and possible (virtual) identity by helping them to build its ecosystem in this space.”
The Chief strategist suggests customized design and creative solutions for various clients would be one of the advantages for the company to remain competitive in the industry, as the company is not just serving local customers but serving globally.
P2E Development
Meanwhile, inspired by environmentally sustainable beliefs, the company also transformed itself into a game developer, trying to bring different scenarios to this virtual space.
Earlier this month, the game developer virtually launchedan NFT drop project, connecting with a gamification-based metaverse space. Featuring ecology conservation and environmental sustainability, the company is introducing a gamification-based platform for players to explore another virtual world– Ecoland.
The Ecoland is a diversified ecosystem, featuring environmental and educational theme interaction for players, according to PANGU. The company said its assets creation is fully designed from scratch by itself. Their voxel characters are unique with high quality.
Operating through the Play-to-Earn (P2E) model, the platform has associated with the Sandbox, players can earn SAND tokens or win some exclusive NFTs after completing several missions in the game in exchange for upgrading their equipment and tradings.
In addition, the gaming platform also wishes to escalate its landscape in the Metaverse, bringing more interactive ways in different scenarios, such as “Play to learn”, to deliver educational messages to players by completing some mini-games in the space. “We are also cooperating with several environmental NGOs, so we will donate serval amount to NGOs we cooperate with when customers buy specific NFTs from them. These objectives would help us fulfil social responsibility obligations,” Chung added.
Regarding crypto adoptions, PANGU said currently it would only use tokens for necessary transactions or trading among campaigns during the execution stage, such as paying gas fees during the minting of NFTs. “The company might use tokens in the future as the incentive for staff, encouraging them to stay tuned in the crypto space,” Ng added.
Previously, the company participated in the event the Artaverse, to increase its exposure to the industry.
PANGU discloses the company is expanding regional and overseas markets during Q3 and Q4 this year.
Promising Potential Value in the Metaverse
According to the latest researchfrom McKinsey & Company, the study suggests the preliminary value of the Metaverse it creates in the space could grow up to $5 trillion by 2030.
E-commerce would be the largest driving force, which takes up to $2.6 trillion, followed by virtual learning ($270 billion), advertising ($206 billion) and gaming ($125 billion) sector.
Meanwhile, the blockchain-related application and scenarios on the Metaverse are still expanding.
Author of “Snow Crash”, Neal Stephenson, who created the term “the Metaverse” nearly 30 years ago, has recently announced a new project named LAMINA1, according to online media outlet Decrypt.
The project was described as a “free metaverse”, a blockchain-based network for building the open Metaverse. “We’re going to have all the facilities of a full layer one (blockchain) to help support and encourage the creators who want to build with us. That is my and Neal’s strategy—align everything around getting the best thing built and getting everybody all the tools they need to build what they want,” Vessenes explained.
Imagination of Virtual Land
The land issue in Hong Kong remains one of the most challenging issues in the city. With limited space and high demand, physical land has become one of the rarest resources for housing, real estate and other property developments.
Since the arrival of Metaverse and virtual lands in recent years, the bond and chemistry between these two topics have the caught attention of investors who wish to join the virtual space instead of trading physical land. More local entities or corporate firms in Hong Kong, as a result, foresee the potential benefit and investment opportunities in the Metaverse. However, these firms still need a builder’s help to construct the Metaverse infrastructure.
Apart from projects coordinated by PANGU, more local firms, such as Telcom operator PCCW and local railway operator MTR, also shared optimistic views by joining the Metaverse space, aiming at raising their awareness and exposure in the virtual space. Meanwhile, Yahoo and Meta, formerly named Facebook, have also announced to launch of a metaverse connection in the city in the hope that to reserve the old style and image of the city.
After the short bearish trend amid the Russia-Ukraine tensions, the crypto market has started to gain ground again. Bitcoin and Ethereum rose by about 1% and 5% respectively during the last week. Many other cryptocurrencies have followed. The popularity and market capitalization of the Metaverse tokens also continues to grow.
Many analysts link the fall and rise of the crypto market to the recent political events and fluctuations of the Russian ruble. When the currency suddenly started to pull back, so did most of the digital assets. Now that the rouble is slowly recovering, cryptocurrencies are shooting up in value again. Last week, Russia claimed that it would only accept rubles and maybe crypto for oil and gas. This statement may have led to the growth of the ruble and the surge in the crypto market.
For the first time in three months, Bitcoin surpassed the $47,000 mark on March 28. The number one crypto might not yet be close to its new ATH, but it might very well hit the new highest price of the year soon. In two days the BTC value jumped by more than $1,000, then retreated, and now continues to grow again. The move may have to do with Russia’s consideration of accepting BTC for its natural resources mentioned above.
Source: Messari.io
BTC is currently trading at $45,502,80. It grew by 1.23%% during the past week and dropped by 3.16% in the last 24 hours.
Ethereum has been growing steadily for the last 10 days and just like Bitcoin saw a big jump on March 28. The price of ETH is still lower than it was in the beginning of the year, but it might reach that point again soon as it seems to be following the bullish trend.
Source: Messari.io
The currency gained 5.35%% during the past week and fell by 3.89% in the last 24 hours. At the moment of writing, ETH costs $3,296.23.
Decentraland (MANA)
Decentraland’s MANA token is the top metaverse crypto by market capitalization. Created in 2017 and open to the public in 2020, the virtual reality platform quickly gained popularity. Users have many possibilities in the virtual world, from creating and exploring to buying and monetizing plots of land. Its native currency MANA is powered by the Ethereum blockchain.
Source: Messari.io
Even though the token was growing earlier this week it went down by 1.72% in the last 24 hours and by 2.88% in the last 7 days. The total market cap of MANA is $4,775,414,595. At the moment of writing, it’s trading at the price of $2.59.
Axie Infinity (AXS)
Axie Infinity is a blockchain-based play-to-earn video game launched by Sky Mavis in 2018. Users get to breed and raise the creatures called Axies and receive rewards for them. Each Axie is a platform’s native NFT.
Source: Messari.io
The currency has seen a huge jump during the last 10 days going up by about $20 in 24 hours. However, it retreated significantly after. The AXS’s value has dropped by 10.91% over the past week and grew by 1.38% over the last 24 hours. At this point, the price of the token is $63.66 and the market cap is $3,885,108,076.
The Sandbox (SAND)
The Sandbox is a NFT-based virtual world where users can create, buy, and sell plots of land in the form of a game. Players can use the virtual land to host events, concerts, or games and monetize their creations. The internal currency SAND is becoming very popular.
Source: Messari.io
This week SAND was growing steadily and saw a couple of big jumps until it suddenly went down yesterday. It dropped by 1.59% in the last seven days and by 1.91% in the last 24 hours. Despite its climbs the coin is still pretty far from its ATH of $8.40 it saw last November. SAND is now trading at $3.40. Its total market cap is $3,939,930,950.
ApeCoin (APE)
ApeCoin is a native cryptocurrency behind the NFT-famous Bored Ape Yacht Club project. Launched less than 2 weeks ago by ApeCoin DAO, the coin immediately gathered a lot of hype around it. ApeCoin is mainly used for purchases within the APE ecosystem.
Source: Messari.io
The total market capitalization of APE is currently $3,581,479,601. It lost 0.58% in value during the week but grew by 2.14% in the last 24 hours. Its current price is $12.77.
Theta Network (THETA)
Theta is a blockchain-based network focused on video streaming. Users of the decentralized platform share bandwidth and computing resources on a P2P basis. The project is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.
Source: Messari.io
THETA has seen strong growth and shooted up in value by 25.04% during the week. In the last 24 hours it rose by 1.72% and is now trading at $4.09. The total market cap of the currency is now $4,034,400,099.
All in all, even though there have been some drops in the last two days, we can see that most coins and tokens are on the rise and it seems that spring has finally come to the crypto market. There’s a big chance that cryptos will surge even more in the next weeks and months, especially if the political situation stabilizes and countries go ahead with the crypto adoption.
P.S. This article has originally been published on Benzinga.
Sandbox (SAND) refused to go down despite broader negative market sentiment in the past 24 hours. Instead, the altcoin logged a breakaway recovery as traders assessed its recent high-profile partnerships as a sign that the project has strong fundamentals.
SAND rose 10.23% to $3.38 at the UTC close on Jan.27, followed by another 5.42% spike to $3.57 on Friday. In contrast, Bitcoin (BTC), dropped 1.41% within the same timeframe.
SAND/USD daily price chart. Source: TradingView
SAND adoption booms
Traders decided to increase their exposure to SAND after the Sandbox announced partnerships with American rapper Snoop Dogg and Warner Music, a major record label.
On Jan. 27 Snoop Dogg tweeted a teaser of what appeared to be his upcoming nonfungible token (NFT) collection, dubbed “the Snoop Avatars.” The rapper further hinted that his avatars would come as a part of the Sandbox metaverse.
Somethin big comin soon. ⬇️ Keep up 2 date @TheSnoopAvatars @TheSandboxGame https://t.co/GkqdAJE10L
— Snoop Dogg (@SnoopDogg) January 26, 2022
Later, that day, the Sandbox announced that it would create a music theme park and concert venue within its metaverse with the help of Warner Music. In doing so, the gaming project noted that the Warner Music artists would virtually engage with their fans and generate real revenues streams.
“We’re shaping The Sandbox as a fun entertainment destination where creators, fans, and players can enjoy first-of-a-kind immersive experiences and be more closely connected to their favorite musical artists through NFTs,” Sebastien Borget, chief operations officer and co-founder of The Sandbox, told Cointelegraph.
Naturally, the high-profile partnerships boosted the prospects for SAND to find more takers in the future. That is primarily because of the token’s role as a primary asset inside the Sandbox metaverse — a medium of exchange, governance and staking. As a result, it fared better than most of its top-ranking crypto rivals on Thursday.
What’s next for SAND?
The latest bout of buying appeared in line with a choppy recovery in the broader cryptocurrency sector that started on Jan. 24.
Between its nadir of Jan. 22 and Friday’s top, the crypto market added over $150 billion to its net valuation. SAND, which recovered alongside other assets, bottomed out at $2.56 then went on to rally over 40% in just four days.
SAND/USD daily price chart. Source: TradingView
Following the bounce, SAND price confirmed its 200-day exponential moving average (200-day EMA; the blue wave in the chart above) as its interim support. If the euphoria surrounding the Snoop Dogg and Warner Music partnerships sustain, Sand will likely extend its upside momentum toward the 50-day EMA (the red wave) near $4.50.
Meanwhile, independent market analyst Cantering Clark doubted the upside setup, reminding that SAND’s pump could have posed a “helpful exit for holders” before a potential bearish continuation ahead.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The Sandbox announced Thursday a partnership with Warner Music Group, or WMG, to create a musical theme park and concert venue within the gaming metaverse. The Warner Music Group LAND in The Sandbox will host concerts and live experiences featuring artists and talent represented by WMG.
This initiative marked Warner Music’s first entry into the NFT metaverse realm. According to a statement shared with Cointelegraph, their goal is to create immersive social experiences that can empower Warner Music artists. The Sandbox could provide artists with another outlet to engage with their fans, experiment with virtual entertainment and generate new revenue streams while reaching a global community.
Sebastien Borget, COO and Co-Founder of The Sandbox said that the partnership “brings the open metaverse one step forward in the direction of fan-owned and community-driven initiatives.”
“We’re shaping The Sandbox as a fun entertainment destination where creators, fans, and players can enjoy first-of-a-kind immersive experiences and be more closely connected to their favorite musical artists through NFTs,” he added.
Digital land remains in high demand, and consistent high trading volume on The Sandbox has deemed it one of the most competitive metaverses to rival Decentraland. According to the company, The Sandbox will hold a LAND sale in March 2022 to allow music fans to buy LANDS adjacent to the WMG property.
Related: $106M worth of metaverse land sold last week: DappRadar
WMG, comprising of record labels like Atlantic, Warner Records, Elektra and Parlophone, is the latest partner to purchase real estate within The Sandbox metaverse, joining The Walking Dead, Snoop Dogg, Adidas, Steve Aoki, The Smurfs and CryptoKitties.
Virtual Metaverse gaming platform Sandbox has launched the Metaverse accelerator program, which will provide 100 startups with $50 million in start-up capital to promote the development of the Metaverse field.
Sandbox, a subsidiary of Animoca Brands, saidthe plan would invest in about 30 to 40 blockchain startups each year. It will launch in the second quarter of 2022.
Investments will be up to $250,000 per startup. And will give top-performing businesses up to $150,000 in grants from SAND and LAND, digital real estate in the virtual world of The Sandbox, as well as follow-on investments.
The Sandbox Metaverse Accelerator Program, a mid-2021 collaboration between leading global venture capital accelerators Brinc and Animoca Brands, is incorporated into a dedicated track within Launchpad Luna.
The project aims to support startups, helping them to build unique experiences and creating new content to expand the sandbox ecosystem.
The co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance, Sebastien Borget, said:
“The Sandbox’s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs. With imagination, ideas and hard work, startups from all over the world can realize their visions and drive social impact by creating more opportunities for everyone.”
Blockchain.News reportedon January 19, Animoca Brands, has raised $358.88 million from investors led by Liberty City Ventures.
Virtual world project The Sandbox announced its metaverse accelerator program that will push the development of the open metaverse by investing $50 million in startups. The Animoca Brands subsidiary is partnering with the venture accelerator firm Brinc to target 30 to 40 blockchain startups a year for the program.
The Sandbox Metaverse Accelerator Program will allocate up to $250,000 in investment to each potential project and will give additional incentives to top-performing projects. The bonuses include The Sandbox (SAND) digital asset and LAND, digital real estate within The Sandbox’s metaverse. Apart from this, the best-performing startups will also have access to additional investment grants and high-profile mentors.
According to The Sandbox Co-Founder Sebastien Borget, the program is an expansion of its goal to support a new wave of metaverse entrepreneurs. Through this, startups across the world can make their ideas come to life. “We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem,” he said.
Applications are now open, and the first batch of investments is scheduled to proceed by the second quarter of 2022. The program runs within Launchpad Luna, a collaboration effort by Animoca Brands and Brinc that aims to support the development of startups.
The program supports the development of an open metaverse, the metaverse that is not owned by any single entity. According to Animoca Brands Co-Founder and Executive Chairman Yat Siu, the open metaverse “presents an incredible opportunity to create a participatory and collaborative nonzero-sum environment based on openness, equitability, user governance, and digital property rights.”
Related:NFT-focused Animoca Brands valued at $5B following $358M raise
Apart from supporting businesses, the development of the metaverse may also help the environment in the long run. Manav Gupta, the founder and CEO of Brinc believes that “as digital experiences develop, we will find ourselves having fewer reasons to emit carbon to travel for work or play.” Gupta says that this can decrease the demand for physical products like art and merch that have unsustainable production methods.
One of the biggest accounting firms in the world has ventured into the metaverse after purchasing virtual real estate on gaming blockchain The Sandbox (SAND).
PwC Hong Kong, part of the global PricewaterhouseCoopers accounting empire, has become the first member of an internationally recognized professional services network to publicly buy virtual land on The Sandbox, according to a press release.
As William Gee, a partner at PwC Hong Kong says,
“The Metaverse offers new possibilities for organizations to create value through innovative business models, as well as introducing new ways to engage with their customers and communities.
We will leverage our expertise to advise clients who wish to embrace the Metaverse on the full range of challenges presented by this emerging global digital phenomenon.”
SAND is a decentralized blockchain-based gaming world within the metaverse where users can buy, sell, and customize virtual plots of land, which they own as in-game non-fungible tokens (NFTs).
PwC Hong Kong can play a valuable role in growing the metaverse by creating an environment where blue-chip investors and brand-name companies can feel comfortable familiarizing themselves with Web3 technology, according to the media release.
As stated by Sebastien Borget, chief operating officer of SAND,
“The metaverse is open for business. We welcome PwC Hong Kong to experience how The Sandbox fosters new immersive experiences and ways for brands to connect with customers. It’s an exciting time, and PwC is at the forefront of this emerging frontier.”
SAND is exchanging hands at $6.14 at time of writing, a 29% increase from its seven-day low of $4.76.
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Featured Image: Shutterstock/WindAwake/Marko Aliaksandr
The Sandbox co-founder Sebastien Borget wants to defend the Metaverse from the Big Tech giants aiming to make a foray into the nascent market.
In a recent interview, Borget said that he is not very keen on big tech companies such as Meta joining the Metaverse. He explained further that major technology companies could threaten the decentralization of the Metaverse as their business model goes against it.
The Sandbox co-founder went on to add that it’s not about the competition, rather more about an open, decentralized future. Tech giants hold the monopoly over Web 2.0, something the Web 3.0 technologies like the Metaverse and crypto are trying to break. Borget explained:
“We don’t think those companies can build something truly fun that’s catered to the users because they’ve been so focused on their key business model and how to satisfy shareholders rather than satisfy users who own the asset, who own the governance of their own platform.”
Facebook rebranded itself as Meta to acknowledge its focus on the virtual world. The social media giant has shifted its focus to be the leading tech giant in the nascent virtual reality metaverse after a failed attempt at launching a universal stablecoin.
Related:Just did it: Nike enters the metaverse game following RTFKT acquisition
Facebook’s record with user data mismanagement has created distrust among the masses, and the company’s business model worries The Sandbox COO.
The Sandbox closed a $93 million funding round led by Japanese banking giant Softbank. It also launched the first Metaverse game where people can buy virtual lands, and the game has already attracted many headlines over a $4.3 million virtual land sale. The metaverse projects combine the best of crypto and a virtual reality-based gaming ecosystem, making them among the most sought-after projects in the crypto world.
As residents in Hong Kong struggle to purchase physical property due to high housing prices, The Sandbox’s virtual assets could be a lucrative investment opportunity for many.
The Hong Kong-based billionaire and property tycoon Adrian Cheng Chi-kong, son of Henry Cheng Kar-shun, Adrian’s addition of virtual real estate to his portfolio of investments via The Sandbox has led the way for giant investors and the general public to establish a foothold in this new world.
Adrian Cheng, who also is the CEO and executive vice-chairman of New World Development, said:
“I’m excited to enter the metaverse through The Sandbox. Providing platforms for the next generation to be empowered to create, innovate and feel part of something that’s paving the way for the future is critical to progress; The digital world is constantly evolving and we need to stay at the forefront of these changes by continuously exploring and developing the metaverse.”
The Sandbox is a leading decentralised gaming virtual world and subsidiary of Animoca Brands, where users can buy virtual real-estate, called LAND NFTs (non-fungible tokens), in the open metaverse.
Metaverse is a shared virtual world where users can socialise, play games, live as an avatar and try out the latest fashion from their couch. Users buy these virtual items using cryptocurrency that are backed by NFTs or other digital assets.
Investors can also buy properties and develop their assets much like in the real world where users can buy their games and items from. The Sandbox has also been fueling the recent growth of virtual real-estate demand having partnered with major IPs and brands.
Speaking through a statement from Cheng’s office, Adrian’s LAND will be one of the biggest plots in The Sandbox. His plot will also form part of the ‘Mega City’ virtual world, which will include Adrian’s Innovation Hub, where successful start-ups that he personally supported from the Greater Bay Area (GBA) in China Guangdong Province, will have a space to sell their products via the GBA Pavilion.
GBA start-ups to be featured in Adrian’s Innovation Hub include Aesir, Casetify, Lalamove, DayDayCook, Prenetics, Raspect, Rice Robotics, Rooftop Republic, Undone and V Cycle.
The statement also said that the GBA Pavilion will inspire and encourage entrepreneurs and the featured companies will offer entertainment, exclusive NFTs and immersive experiences.
An alternative way to invest property
Costly housing price becomes a challenging issue among the local residents in the city, compared to other major countries and regions worldwide. Although prices slipped 0.4 per cent to 396.3 in September, according to an index by the Rating and Valuation Department, for many residents investing in property is still sky-high. Owning property has been described as a mission impossible. In light of that situation, virtual assets are propped up for many to explore.
In this new opportunity, Hong Kong residents can create immersive 3D worlds and game experiences and safely store, trade, and monetize their creations in The Sandbox Metaverse’s decentralized and intuitive platform.
Currently, around a third of Hong Kong residents have invested in, or used, cryptocurrency as a medium of exchange, the second-highest engagement with the new asset class among developed markets surveyed by credit card company Visa, according to local media South China Morning Postreported.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “Adrian is one of the most influential leaders in business, real estate, arts and culture in Hong Kong and the region, and we are thrilled that he is joining The Sandbox to bring his unique perspective and to help add and shape new transformative experiences to the open metaverse.”
