Saudi Arabia’s Digital Government Authority (DGA) has signed a memorandum of understanding (MOU) with blockchain-based metaverse project, The Sandbox. The agreement, which was signed at the Leap Tech Conference in Riyadh, will see the two parties work together towards “metaverse” or VR goals.
It was a true honor to sign our MOU partnership ceremony between @TheSandboxGame and the Saudi Arabia Digital Government Authority (DGA) during #LEAP 2023 conference, and we look forward to exploring, advising and supporting mutually each other in activations of the Metaverse pic.twitter.com/mTBYqlwvUa
— Sebastien 🏞 (@borgetsebastien) February 7, 2023
The Sandbox, which is owned by Animoca Brands and has partnerships with various banks, companies, and music industry names, saw its native token SAND rise 30% to $0.93 following the announcement.
The partnership spree continues
A metaverse owned by Animoca Brands, The Sandbox is among the decentralized virtual worlds driving the recent surge in demand for virtual real estate. This virtual world combines elements of real estate and an amusement park and fully embraces the concept of the metaverse as a continuous shared digital space where different worlds and characters can interact and create magic.
Over 400 partners have joined The Sandbox to date, with creators across a range of industries seeing the potential of a game focused metaverse. Famous partners include Warner Music Group, Ubisoft, Tony Hawk, Gucci, The Walking Dead, Snoop Dogg, Adidas, Deadmau5, Steve Aoki, The Smurfs, Care Bears, Atari and CryptoKitties.
Following the announcement with Saudi Arabia, the native token SAND used for transactions within the metaverse was up 30%, hitting a 3 month high.
They signed a Memorandum of Understanding (MOU) with the Saudi Arabia Digital Government Authority (DGA) to incite developments in the Metaverse space.
Read a full interview with Founder Sebastian Borget here
