Recently, Ethereum-powered metaverse “The Sandbox” announced a partnership with one of the world’s largest music companies.
What Is The Sandbox?
The Sandbox is a subsidiary of Animoca Brands.
Animoca Brands, which was founded in January 2014 by Yat Siu and David Kim, and its various subsidiaries “develop and publish a broad portfolio of blockchain games, traditional games, and other products, many of which are based on popular global brands, such as Formula 1®, Disney, WWE, Power Rangers, MotoGP™, and Doraemon. Animoca Brands is also a prolific investor with over 100 investments in NFT-related blockchain companies, including Sky Mavis (Axie Infinity), Dapper Labs (NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds.”
Here is how Binance Research described The Sandbox back in August 2020:
“The Sandbox is a virtual world built on the Ethereum blockchain, where players can build, own, and monetize their gaming experiences… The SAND token is an ERC-20 utility token that is used for value transfers as well as staking and governance… Players can create digital assets in the form of Non-Fungible Tokens (NFTs), upload them to the marketplace, and integrate into games with Game Maker.“
And here is the how The Sandbox team describes SAND and LAND:
“SAND is the utility token used throughout The Sandbox ecosystem as the basis for transactions and interactions. It is an ERC-20 utility token built on the Ethereum blockchain. There is a finite supply of 3,000,000,000 SAND.“
“The Sandbox Metaverse is made up of LANDS, that are parts of the world, owned by players to create and monetize experiences. There will only ever be 166,464 LANDS available, which can be used to host games, build multiplayer experiences, create housing, or offer social experiences to the community.“
The Sandbox’s Partnership With Warner Music Group (WMG)
According to a blog post by The Sandbox team, this partnership marks Warner Music’s “first steps into the NFT and metaverse realm.”
Oana Ruxandra, Chief Digital Officer & EVP, Business Development at Warner Music Group, had this to say:
“Our partnership with The Sandbox adds a new layer of possibility in the metaverse, with the ownership of virtual real estate. As a first-mover, Warner Music has secured the equivalent of beachfront property in the metaverse. On the LAND, we’ll develop persistent, immersive social music experiences that defy real-world limitations and allow our artists and their fans to engage like never before.“
The blog post went on to say that “as part of this agreement, WMG acquired an ESTATE, that will act as a portal through which we can expect some of WMG’s talent to make an appearance in The Sandbox — thus creating a new arena for musical entertainment in the metaverse” and that this ESTATE will be “a hybrid of musical theme park and concert venue.”
Bertrand Levy, VP Global Partnerships of The Sandbox, stated:
“As a former entertainment executive, I’m very excited to have one of the biggest music companies in the world with some of the most talented artists joining The Sandbox to create talent-oriented experiences.“
The Sandbox plans to “hold a LAND sale at a later date, which will allow music fans to buy coveted LANDS adjacent to the WMG property.”
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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