Metaverse’s Virtual real estate Attracts Mega brands
The Sandbox platform offers companies the opportunity to acquire virtual property in the world of the metaverse, securing a prominent presence in the new Internet field “Web 3”, and has so far attracted in this digital world more than 300 brands.
The more than 20,000 own a single property of a total of 1.66.464 in this concise and childlike virtual world that can be accessed without a VR helmet, including companies like AXA, Gucci and HSBC. And “Adidas”, “Carrefour” and “Ubisoft”.
This map contains a limited number of lands, “and this is not the case with all decentralized virtual worlds,” Sandbox co-founder Sebastien Bourget (37) told AFP, adding: “So far we have sold the 70%. “”.
The size of the global market for the sale of virtual lands had already exceeded $ 500 million in 2021 due to competition from other platforms such as “Dynstralland” as well. Sandbox has a 60% market share, according to its co-founder.
But what’s the point of owning virtual property in Metaverse, a network of interconnected virtual spaces advertised as the future of the Internet? It’s “very similar to real estate,” says Sebastien Bourget, “a space in where you can create experiences and then monetize, by selling content or renting that space to other content creators. “
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.