- Sandbox on Thursday revealed its new plan to roll out its Hong Kong metaverse strategy to a new market in Dubai, launching a “Dubaiverse.”
- The new project, Dubaiverse, will be based on Sandbox’s Hong Kong “Mega City.”
- The Khaleej Times will be The Dubaiverse’s local news partner.
During the 62nd edition of the True Global Ventures Conference that was held on Thursday, Sandbox, a division of Hong Kong-based game software and venture capital firm Animoca Brands Corp. Ltd, revealed that Sandbox is all set to roll out its Hong Kong metaverse strategy to a new market in Dubai, launching a “Dubaiverse.”
The Dubai-themed metaverse by Animoca Brand will be based on Sandbox’s Hong Kong “Mega City,” a virtual cultural hub and gaming metaverse centered on the Asian financial capital of Hong Kong.
Animoca said that the Dubaiverse will be designed through local collaborations, a similar idea to that which was used in Hong Kong. By doing so, the Hong Kong-based blockchain game specialist will collaborate with businesses in the entertainment, banking, real estate, acting, and gaming sectors.
As per the co-founder and chief operating officer (COO) of Sandbox Paris, Sebastien Borget, other location-based metaverses are being developed for Singapore, Korea, and Turkey.
With Animoca Brands confirming that Dubai’s cryptocurrency regulator, Virtual Assets Regulatory Authority (VARA), was the first client to purchase real estate on the Dubaiverse virtual map, the project has attracted a one-of-a-kind alliance in the metaverse.
Borget added that it was a turning point, and as a result, other significant local partners and brands were attracted.
Digital trading company GCEX’s managing director for Dubai, Mehtap Onder, stated that their firm will also enter Animoca’s metaverse and provide virtual asset education in a way that has never been possible before.
It has also been confirmed that Khaleej Times will be The Dubaiverse’s local news partner, following a similar collaboration between Hong Kong’s Sandbox and the South China Morning Post.
Also, True Global Ventures, the company hosting the event, revealed that they have also invested a total of US$38 million in Animoca Brands.