Animoca’s brand, the Sandbox announced during the 62 edition of the True Global Ventures Conference that it will be bringing its metaverse strategy to Dubai, with the ‘Dubaiverse’. It will work with local partners including Khaleej Times media outlet.
Animoca Brand’s Dubai-themed metaverse will follow the blueprint of its subsidiary Sandbox’s Hong Kong “Mega City,’ a gaming metaverse and virtual cultural hub based on the Asian financial hub of Hong Kong.
As per the news on Forkast, the Dubaiverse will be built through local partnerships, In doing so, the Hong Kong-based blockchain game specialist will partner with firms in the film, music, entertainment, acting, finance, real estate, and gaming industries.
Sebastien Borget, cofounder and chief operating officer (COO) of Sandbox Paris, added, “Other planned location-based metaverses are in the works for Singapore, Korea, and Turkey.”
Dubai’s virtual asset regulator was the first regulator in the world to purchase a piece of land in Sandbox. Borget noted, “It’s been a key moment, and from there, we’ve been able to attract other major local partners and brands.”
Mehtap Onder, Managing Director for Dubai at GCEX, a digital brokerage firm, said they will also enter Animoca’s metaverse, offering virtual asset education in a way that couldn’t be accomplished before.
The Dubaiverse will also have a local news partner, in Khaleej Times following a similar partnership between Hong Kong’s Sandbox and local newspaper the South China Morning Post.
“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,” said Sohail Nawaz, Chief Digital Officer of Khaleej Times.
True Global Ventures with a presence in the UAE announced its total investments in Animoca Brands have reached US$38 million.