The Animoca Brands subsidiary, as well as blockchain-based virtual world The Sandbox, announced that it has formed multiple partnerships in Hong Kong and plans to build a “Mega City in the metaverse.” The Sandbox’s Mega City partners include Hong Kong tycoon Adrian Cheng and PWC Hong Kong. Shu Qi, a model and actress from Hong Kong, was also part of the acquisition.
Mega City Launch Announced by The Sandbox
Decentraland and the Sandbox are two of many blockchain projects that have seen significant demand in recent years, as Web3, NFTs and metaverse hype has increased exponentially. The launch of a mega-city by The Sandbox, an Animoca Brands subsidiary that uses non-fungible tokens (NFTs) technology, was announced Wednesday.
The Sandbox reveals that it has partnered with Adrian Cheng, CEO, New World Development, founder and executive director of Chow Tai Fook’s jewelry company. Cheng’s XL Estate, which is 24 x 24 LANDs, will be featured in the blockchain virtual world. It aims to become an “innovation hub for Mega City.” Cheng’s GBA Companies will provide special experiences such as “entertainment [and] unique 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.