NFT Tech Joins The Sandbox Metaverse
NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTCQB: NFTFF) ("NFT Tech"), a leading technology company partnering with top-tier brands to accelerate their entry into the world of web3 through innovative technologies and unparalleled creativity, is pleased to announce a partnership between web3 studio Run It Wild and The Sandbox, a leading decentralized gaming virtual world, a subsidiary of Animoca Brands.
The Sandbox is a combination of virtual real estate and an amusement park that fully embraces the concept of the metaverse, a shared digital space where different worlds and characters can interact. NFT Tech joins over 160 existing partnerships including Deadmau5, Richie Hawtin, The Smurfs, Care Bears, Atari, ZEPETO, and CryptoKitties, all following The Sandbox vision of empowering players to create and pursue their own experiences using both original and well-known characters and worlds.
"Most brands and rights holders today connect to their audiences across multiple platforms, from TikTok, Twitter, Instagram, Meta, LinkedIn, the list goes on,” said Adam De Cata, CEO of NFT Tech. “We see emerging virtual worlds and environments as the next great place to reach new web3-native audiences and also create deeper engagement and more meaningful experiences for existing customers. Delivering games alongside creative strategies and concepts for our current and future IP in the Sandbox is a perfect partnership with a leading metaverse on the Ethereum blockchain."
The Sandbox ecosystem uses SAND, the ERC-20 utility token, as the basis for transactions and interactions. It is used to facilitate transactions that are part of its gameplay, including purchasing LAND, interacting with content, and staking to participate in the governance of the decentralized autonomous organization (DAO). The token has a current fully diluted market cap of over US$2B with a peak of over US$10B, according to CoinMarketCap.
This partnership aligns with The Sandbox's announced efforts to expand its ecosystem by onboarding new partners. This includes the launch of a content series designed to attract brands and intellectual property to the virtual world, as well as new LAND sales tailored to specific regions and industries. Additionally, The Sandbox plans to introduce flagship neighborhoods that celebrate cultural and geographical diversity within the metaverse. We refer to our press release dated January 14, 2023, the transaction for NFT Tech to acquire Run It Wild is anticipated to close on or before February 24, 2023.