|Coincheck||Financial Services Agency||The Sandbox||virtual worlds|
The Sandbox is working together with the Japanese cryptocurrency exchange Coincheck to offer LAND parcels to users in Japan. Coincheck has acquired a large amount of land, and will in turn sell these land parcels to local users on its own NFT marketplace. They will also help with the promotion of NFTs, while creating content with a focus on Japanese users.
Coincheck is one of the bigger crypto exchange in Japan, with more than 2.25 million users. They’ve officially been approved by the Financial Services Agency (FSA), allowing them to trade crypto assets legally. For The Sandbox working with an FSA approved partner makes a lot of sense from a legal perspective.
The NFT marketplace that Coincheck launches soon, will only feature assets from selected partners. The Sandbox will be one of those. Likely Coincheck will also feature assets from the Enjin platform, as they got recently approved by the FSA as well.
Strong regulations have made it difficult for blockchain companies to reach the Japanese market. Culturally this particular market is all about collecting and fandom, making NFTs a natural fit. Last year Hironao Kunimitsu from Double Jump Tokyo predicted a glorious future for blockchain gaming, stating that play-to-earn and NFTs in gaming would make these virtual economies bigger than Japan’s national economy.
What is The Sandbox?
The Sandbox is one of the blockchain-powered virtual worlds currently in development. The virtual world of The Sandbox consists out of lands, and voxels fill up each of those lands. Visually it will remind many gamers of Minecraft, as both games have this Lego-inspired look to them. However, players are able to buy virtual land and implement any form of monetization. These virtual lands can become mini-games, adventures, virtual shops, extensions of actual webshops, a space for social gatherings, and so on.
The Sandbox is providing free tools for developers, gamers and content creators. Creators can use VoxEdit to make objects. In addition the Game Maker allows users to create interactivity on their virtual land. The Sandbox will also create a meta gaming experience. Players can for example do daily quests or weekly quests for their guild. This will earn players SAND, which they can sell or use to buy in-game items or virtual land.
Over the past twelve months The Sandbox has been setting up all kinds of partnerships. Think about Care Bears, The Smurfs and Atari. In addition they’ve created a game fund to stimulate developers to create unique games within The Sandbox. Hack The Tao, Mushroom Mania, Planet Rift and Dethrone are some of these indie games.
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Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.