Blockchain projects like Decentraland and The Sandbox have been seeing significant demand as Web3, NFTs, and metaverse hype has grown exponentially in recent times. On Wednesday, The Sandbox — an Animoca Brands subsidiary and blockchain metaverse that leverages non-fungible token (NFT) technology — announced the launch of a “Mega City.” The firm has made various partnerships in Hong Kong and the metaverse region will become “a new cultural hub,” according to the announcement.
The Sandbox details that it partnered with the renowned Hong Kong businessman Adrian Cheng, CEO of New World Development, founder of the K11 brand, and Chow Tai Fook jewelry company’s executive director. The blockchain virtual world will feature Cheng’s XL Estate (24 x 24 LANDs) that aims to be an “innovation hub of Mega City.” A landmark will be the GBA Pavilion that showcases “creativity and tech wonders.” Cheng’s GBA Companies will also provide special experiences like “entertainment [and] exclusive NFTs.”
Award-winning entertainment stars like director Stephen Fung and actress Shu Qi plan to showcase exclusive NFTs. “The Sandbox [plans] to create an exciting district of Mega City that will showcase their talents and love for art and culture,” the announcement details. Furthermore, metaverse fans and The Sandbox users will be able to acquire land next to Mega City. The Sandbox has announced a land sale of property located adjacent to the Mega City region. The blockchain virtual world startup’s Mega City announcement explains:
To celebrate the new partners, The Sandbox will launch a new LAND sale on January 13, 2022, that will allow players to purchase choice spots near the LANDs of the partners announced today.
Blockchain Firm Collaborates With 165 Partners
Meanwhile, the project’s native token sandbox (SAND) has shed more than 7% in value this week but during the last two weeks, SAND has gained 6%. Year-to-date metrics show SAND has increased 13,785% against the U.S. dollar. SAND has a market valuation of around $5 billion today and $672 million in global trade volume. Statistics indicate that out of the top NFT marketplaces, The Sandbox Marketplace ranks 25 worldwide with $15.94 million in all-time sales.
According to the upcoming land sale details, the company’s new estates can be seen on The Sandbox virtual world map. The Sandbox says premium land will also be available with exclusive NFTs and the ability to host events on the property. Following the announcement, The Sandbox claims that it has acquired 165 partners to date including the South China Morning Post, PWC Hong Hong, The Smurfs, Care Bears, Atari, Cryptokitties, Adidas, Snoop Dogg, and The Walking Dead.