Animoca’s Sandbox metaverse expands in Hong Kong with educational partnerships as it looks for growth amid fizzling hype
- Hong Kong University of Science and Technology and Hong Kong Design Institute have bought land and are planning virtual experiences in The Sandbox
- Hong Kong’s leading metaverse platform says all land will be sold out by 2026, when it will rely on secondary sales and user-generated content for revenue
The Sandbox, the metaverse platform owned by crypto gaming company Animoca Brands, has partnered with two higher education institutions in its home city of Hong Kong, as it prepares for its next phase of growth amid declining cryptocurrency valuations and hype around virtual worlds.
Hong Kong University of Science and Technology (HKUST) and Hong Kong Design Institute (HKDI) are two of the new partners joining The Sandbox’s Mega City 3, which is set to launch at the end of the month, company chief operating officer Sebastien Borget said during an event in Quarry Bay on Monday. The schools have signed memorandums of understanding with The Sandbox, with HKDI holding a signing ceremony at its campus in Tseung Kwan O on Tuesday.
The latest Mega City will focus more on education, according to the company, and the schools will use new land purchased in the virtual space to educate people about the metaverse. Among the programmes being developed are a virtual graduation ceremony for HKDI and various scientific programmes and gaming experiences at HKUST. The Sandbox will also conduct seminars and workshops with students at each school, the company said.
“We’re a platform that provides a lot of creative possibilities. Connecting with some of those major institutions that are educating about design or technology … and recognise The Sandbox as the tool for that purpose is, in our opinion, significant and proves the forward-thinking aspect of Hong Kong versus other regions of the world,” Borget said.
The new partnerships and upcoming Mega City 3 launch comes ahead of an anticipated opening up of the platform, which the company said will happen in the third quarter, to allow anyone to participate in any experience at any time. The Sandbox has until now limited gameplay to “seasons”, with three having concluded so far, as the company worked to improve the technology. When the platform completely opens up later this year, anyone will be free to self-publish content without any involvement from the company.