The Next Evolution Of Decentralized Games Here’s everything you need to know about The Sandbox, and what they’re doing for The Metaverse. In light of these announcements, it’s clear that The Sandbox is the metaverse platform to watch.
THE SANDBOX PLATFORMS REGISTRATION
This will let all the users get access to the virtual world of The Sandbox without additional registration and enjoy the gameplay,” said Fabia Seidl, Director of Global Creative Development at Meta. “We are inspired with the potential of the technologies of blockchain games and are ready to promote their further integration into our metaverse for our users. On Nov 5, The Sandbox announced a partnership with Meta, in which they will be integrated into Meta’s newly announced social metaverse. Among the investors in the round were Animoca Brands, Galaxy Interactive, Liberty City Ventures, Kingsway Capital, LG Technology Ventures, Polygon Studios, and Samsung Next.
THE SANDBOX PLATFORMS SERIES
On Nov 1, The Sandbox announced that they had raised $93 million in Series B funding to develop their metaverse. To date, The Sandbox has generated over $144 million in transaction volume. Launched in 2011 by Pixowl Inc, The Sandbox is a virtual metaverse where players can build, own, and monetize their gaming experiences in the Ethereum blockchain using NFTs and $SAND, the platform’s utility token. In particular, one metaverse platform has been gaining a lot of traction – The Sandbox.
To keep their ships afloat in the future, they are required to do some robust dry docking now.Since Mark Zuckerberg’s announcement that Facebook would rebrand to Meta, the world has turned its attention towards the metaverse. Web3 companies, including Fortnite, Roblox, The Sandbox, and more, currently hold around 200 Million users. We may not see the metaverse or web3 entering the mainstream soon however, security issues will likely make potential users insecure about the sector. Most sectors will potentially leverage this technology from retail to real estate in the forthcoming years. Furthermore, the country’s government wants to attract over 1,000 companies and generate more than 40,000 jobs by 2030. Web3 will be at the heart of the metaverse however, security may remain the primary concern.Ī few nations, including Dubai and South Korea, have started seeing their future in virtual spaces. The sector needs to grow 15-fold in eight years to mark the estimate. However, the market was valued at around $3 Billion in 2022. Web3, or the semantic web, is still in its infancy and is expected to reach $45 Billion by 2030, research shows. Users explained that they lost their non-fungible tokens after clicking malicious links. The hackers bypassed two-factor authentication (2FA) and tried to rent Bored Ape Yacht Club (BAYC) NFTs from users. The metaverse platform saw a similar incident happen on their Instagram account last year. Moreover, the metaverse company recently announced Daisuke Iwase, founder of one of the platforms Animoca has invested in, as their new Chief Executive Officer. The organization was among the top 5 venture capitalist firms in this benchmark ranking. Recently, Animoca Brands, maker of The Sandbox game, made its way to Fortune Crypto 40 list.
Sky Mavis, the game’s creator, announced they would compensate the affected users. Axie Infinity’s Ronin Bridge collapse remained the biggest attack of the year, where North Korea-based hacker group, Lazarus, fished over $600 Million from the network. Meanwhile, remain vigilant and stay safe! /vhRcOcLR2X- The Sandbox April 11, 2023Īccording to CertiK, hackers drained $3.7 Billion from Web3 spaces in 2022, an almost a two-fold increase year-on-year.
THE SANDBOX PLATFORMS UPDATE
We are investigating and will update shortly. ⚠️ Do not click on any links coming from that account until further notice. Our Instagram account has been compromised.
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