The Sandbox, a metaverse platform, has managed to navigate the cryptocurrency bear market through strategic partnerships and a focus on innovation. In an exclusive interview with Cointelegraph at NFT Paris, co-founder Sébastien Borget and CEO Arthur Madrid discussed the platform’s recent success and its long-term goals.
Despite claims that the metaverse is dead, Madrid believes that it is still a meaningful concept. He points to Facebook and Epic Games as examples of companies that are bullish on the metaverse. Madrid emphasizes the significance of integrating crypto, NFTs, and avatars into the metaverse experience.
The Sandbox’s native token, SAND, has seen a surge in interest, according to a report by Messari. Its circulating market cap increased by 89% in the fourth quarter of 2023, outperforming the total market cap of all cryptocurrencies. In addition, activities within the platform, such as creating and trading in-game assets, have experienced significant growth.
The Sandbox has also formed partnerships with luxury brands, entertainment companies, and media conglomerates. These collaborations include Gucci, Lacoste, Warner Music Group, Drecom, and MediaCorp. The company has also focused on expanding into new markets, particularly in Asia, where there is a receptive audience for the Web3 and metaverse concept.
Despite the challenges of the cryptocurrency bear market, The Sandbox has continued to release product updates and empower creators to develop new content experiences. The company has seen success in selling in-game assets, such as wearables and NFTs, indicating a sustained interest in metaverse experiences.
Looking ahead, Madrid believes that metaverse platforms like The Sandbox and Decentraland have the potential for long-term success. He compares them to conventional Web2 games like World of Warcraft, Fortnite, and Roblox, which have demonstrated longevity. Madrid expresses optimism about the future and states that the company has plans in place up to 2035.
The success of The Sandbox can be attributed to its partnerships with brands, artists, musicians, and creators. By collaborating with household names like Snoop Dogg, Steve Aoki, and Tony Hawk, the platform has been able to create unique experiences for fans. The company also works with companies like Adidas to demonstrate the interest and creativity of their Web3 user base.
The Sandbox currently has 12 offices worldwide, including locations in Paris, Latin America, Hong Kong, Tokyo, and Seoul. With a team of over 350 people, the company is focused on building the technology and tools necessary for creating experiences in the metaverse platform.