Metaverse attracts Big Brands Virtual real estate Sandbox
Sandbox was launched in 2011 as a video game, but the platform, founded by two Frenchmen, has moved in the direction of “Web 3” since its acquisition by Animoca Brands in Hong Kong in 2018, becoming an immersive virtual world, in which attendees can through their “Avatar” avatars to chat, play or trade unique NFT pieces and even attend concerts.
In addition to the sale of land, the business of the project provides for the charge of a “commission” of 5% on all transactions and exchanges made through the platform.
Sebastien Bourget explains that “users have their own digital content. Avatars, equipment, land, houses … it’s all theirs.”
Sandbox generated $ 200 million in revenue last year. The associated cryptocurrency Sand, which is mainly used by users to buy clothes for their avatars, has a capitalization value of over 2.5 billion euros.
Sandbox raised $ 93 million in an organized IPO in late 2021 indicates the interest it is generating among investors.
