Gaming altcoin The Sandbox (SAND) is unveiling a joint metaverse venture with one of the biggest music labels in the world.
In a new blog post, land-focused virtual reality crypto The Sandbox says that it’s partnering up with the world-famous Warner Music Group to create the first-ever music-themed world within the metaverse.
Warner purchased what is equivalent to beachfront property as an in-game ESTATE, which they plan on turning into a hybrid of a musical theme park and a concert venue for Warner’s vast array of leading musical artists to perform for and interact with their fans.
Warner chief digital officer of business development Oana Ruxandra says,
“Our partnership with The Sandbox adds a new layer of possibility in the metaverse, with the ownership of virtual real estate. As a first-mover, Warner Music has secured the equivalent of a beachfront property in the metaverse.
On the LAND, we’ll develop persistent, immersive social music experiences that defy real-world limitations and allow our artists and their fans to engage like never before.”
To mark this partnership, SAND will be holding a sale of in-game LAND non-fungible tokens (NFTs) that are adjacent to the property purchased by Warner at a later date, according to the post.
This isn’t the first time the world-famous music giant partnered up with a cryptocurrency firm as the company threw its weight behind decentralized finance (DeFi) protocol Flow (FLOW) in 2019.
SAND is exchanging hands at $3.43 at time of writing, a 27.5% increase from its seven-day low of $2.69.
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Featured Image: Shutterstock/Ongky Ady Widyanto