The Sandbox is expanding its footprint in Hong Kong for Alpha Season 3
Decentralized virtual game developer The Sandbox, a subsidiary of Animoca Brands, announced Thursday the launch of its first-ever pop-up studio in Hong Kong for the upcoming seasonal events.
To facilitate the experience in Metaverse, the leading virtual real estate developer is actively establishing a virtual platform for global users.
By providing a virtual land for users to organize various activities, such as holding a virtual music concert and real estate development, Erich Wong, Head of Growth of the Sandbox, said that over 300 brand partners have registered as partners to join the global community currently including the Warner Music group, Bored Ape Yacht Club (BAYC).
Locally, some Hong Kong-based entrepreneurship or companies have partnered with Sandbox, including rail operator MTR and banking giant HSBC.
Per Sandbox, 70% of the country’s land, or over 166,000 units, has been released.
In the upcoming season, the platform revealed to offer over 100 events in the next 10 weeks, over 90 types of interactive activities for the public to experience. Additionally, more than 20 new IPs or brands are expected to join the platform, including Snoop Aoki and Atari.
According to the press release, visitors to the Sandbox Alpha 3 Atelier will be rewarded by registering an account on the platform. The company offered 1000 SAND tokens to be distributed daily during the campaign period, and participants could win a 1X1 LAND and NFT house as prizes.
“With the opening of The Sandbox Alpha 3 Atelier, we are excited to welcome an even wider group of users to Hong Kong to explore a truly open metaverse and enjoy a new range of experiences,” said Sébastien Borget, co-founder and COO of the sandbox.
At least two local graphic design studios and agencies are collaborating on the project, including PANGU by Kenal and INDEX GAME, which also developed its own virtual game related to Sandbox.
Last month, Animoca Brands announced that the company had completed a $75.32 million capital raising at a pre-money valuation of $5.9 billion. The new capital will be used to expand strategic fund acquisitions, investments and product development, secure licenses for popular intellectual property and advance the open Metaverse through efforts to advance digital property rights for online users.
The company actively uses technologies, i.a blockchain and NFTs, to deliver digital ownership of users’ virtual assets and data, enabling various DeFi and GameFi opportunities. The leading platform also intends to promote the Play-to-Earn (P2E) model to users linked to its native token SAND, one of the cryptocurrencies actively trading among crypto exchanges.
Through the mechanism of P2E, users could earn tokens and follow up by participating in other trading activities, such as betting or trading.
In response to the rise of the virtual economy, Hong Kong is inevitably required to prepare despite the regional competition. The municipality commented on the trend. On Wednesday, he attended a virtual online forum and said: “If the whole society has accepted that it is normal to interact, date, work, learn and earn in these virtual spaces, I feel that we will move into a true digital economy that will overcome the real economy,” Borget said, adding that “We will no longer be limited by the same limitations of the traditional world. It will bring true inclusion and equality.”
Globally, several celebrities intend to gain more spotlight from a virtual stage in the Metaverse. Paris Hilton’s subsidiary, 11:11 Media, announced to sell NFTS and host virtual parties through Sandbox, according to CNBC citing the media platform.
IN launching a country, Paris Hilton will interact with her fans by “planning social and community events, such as rooftop parties and glamorous social experiences in her virtual Malibu mansion”.
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