The Sandbox has invested $175+ Million on studios in Asia and Europe
The Sandbox supports global development
More developments are being announced for the popular digital real-estate metaverse The Sandbox. The metaverse title has revealed that they have shelled out more investments to expand their development reach globally. The leading metaverse game by Animoca Brands has stated that they’ve made investments in developers from Hong Kong, Japan, UK, France, and South Korea to boost creation of new experiences in digital real estate.
Aiming to further ensure sustainability and growth of their metaverse, The Sandbox team has put up more than USD 175 Million through development studio partnerships with development groups from Hong Kong, Japan, UK, France, and South Korea. Aside from these studios, The Sandbox is also said to have invested in more studios aside from the stated locations, expanding their development efforts globally.
We encourage Creators around the world 🌍
It's vital that we support the metaverse ecosystem, which is why we are investing $175m+ USD to ensure stability and sustain our community's growth.
This move is a follow up to the accelerator program that The Sandbox has initiated in partnership with Brinc. The accelerator program put up USD 50 Million which will be used to invest in startups that will be creating experiences within The Sandbox metaverse, with each startup to gain up to USD 250,000 in grants. The program also seems to attempt to be environmentally sensitive as they prefer groups that will utilize the “proof of stake”protocol which are said to use significantly less power than “proof of work”.
Additionally, The Sandbox has also provided a USD 25,000,000 grant to the NFT collection World of Women, which they intend to “help the promotion of diversity and inclusivity for women in the #Web3 space“
The Sandbox’ growth has been rapid over the past few months, as together with this new wave of partnerships, they have been busy locking in brands. Their approach has been collaborations with non-metaverse and even non-gaming brands to develop experience within their metaverse. The Sandbox has teamed up with Ubisoft’s Rabbids IP and Square Enix’ Dungeon Siege for their game-related offerings. Both Ubisoft and Square Enix have been making their early move in blockchain and metaverse related projects with Ubisoft releasing their own Quartz platform and Square Enix letting go of studios to help bankroll their blockchain portfolio. Aside from gaming-related properties, The Sandbox has also welcomed more traditional names and brands such as the Warner Music Group, SM Brand Entertainment, and popular personality Paris Hilton as part of their partner brands who will soon be creating experiences such as music venues and theme parks in the digital world.