The Sandbox Is Launching New Metaverse Project Named Dubaiverse
Dubaiverse will be built through partnerships with relevant companies and industries, and Sandbox is planning the same project for other cities.
The Sandbox Announces Dubaiverse Metaverse Project
The top metaverse and subsidiary of Animoca Brands, The Sandbox, has revealed it will launch a Dubai-themed Dubaiverse. This announcement came at the 62nd True Global Ventures Conference on Thursday, where the venture firm said it had invested $38 million in Animoca Brands.
The Dubaiverse project looks like the Hong Kong Mega City located in the Sandbox metaverse. The model for Hong Kong entered the second phase in April and came through a series of partnerships with brands and investors across industries such as music and entertainment, education, media, culture, tourism, culture, and so on. The partners include VC firm Brinc, Web3 venture MADWorld, Tatler Asia, Regal Hotels Group, Iconic Ocean Park, etc.
Dubaiverse will also be built through partnerships with local firms within the city. The parent company, Animoca Brands, said that the Virtual Assets Regulatory Authority (VARA), Dubai'sDubai's crypto regulator was the first to buy a plot of land in the Dubai-themed metaverse.
The Managing Director of Dubai at GCEX, Mehtap Onder, said the firm would also take a step into the metaverse to offer virtual asset education.
Khaleej Times is the Local News Partner for the Project
The local news partner in this project is Khaleej Times, Dubai'sDubai's daily English newspaper. The Chief Digital Officer of Khaleej Times, Sohail Nawaz, said,
"As publishers, business models are being challenged all over the world, and new business models come into this space, it's a really important strategic move for us."
The Sandbox also plans themed metaverses for cities such as Turkey, Singapore, and Korea.
A week ago, DBS, a Singapore banking giant, launched its metaverse experience in The Sandbox, and both companies are partnering to develop SingaporeVerse. This virtual space will demonstrate Singapore's culture and will come through a partnership with the local community, brands, government agencies, and tech companies.