The Sandbox, a decentralized, community-driven gaming ecosystem where artists can trade, monetize, and share voxel assets and game experiences on the Ethereum blockchain, is quite optimistic about the UAE government’s ambitious intentions to implement Web3.0 technology. On Wednesday, Bertrand Levy, senior vice president of global partnerships for The Sandbox, attended the one-day Metavision conference hosted by Khaleej Times.
“As a global company with about 350 locations, we have observed that luxury brands were among the first to establish themselves in the metaverse. The experiences you’re trying to create are the key to success in Web 3.0. According to Levy, the Web3.0 will provide opportunity for innovators and creativity.
A UAE media organization is one of the local partners who will help launch the Animoca brand, The Sandbox’s “Dubaiverse.” The Hong Kong “Mega City,” a gaming metaverse and virtual cultural hub modeled after the Asian financial powerhouse of Hong Kong, will be mirrored by Animoca Brand’s Dubai-themed metaverse. According to reports, companies in the entertainment, banking, real estate, entertainment, acting, and gaming sectors will collaborate to build The Dubaiverse. Levy stated, “Right now, we’re focused on building Dubaiverse and working closely with other stake holders.
The Dubai Metaverse Strategy is to establish Dubai as a hub for the metaverse community and one of the top 10 metaverse economies in the world. The Warner Music Group was introduced as a music-themed virtual environment in the metaverse as part of Sandbox’s 200 strategic relationships with the metaverse.
By 2030, the metaverse, according to analysts, might contribute $5 trillion to the global economy. By 2025, consumer expenditure on in-game purchases is anticipated to reach $75 billion, while the market value of NFTs will be $80 billion.
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