Metaverse News

New Partnerships – Updates on Decentraland and The Sandbox

In the last 24 hours, there have been significant developments in two prominent metaverse coins, Decentraland (MANA) and The Sandbox (SAND).

Both coins have revealed new partnerships with major companies. As, we bring you the details…

US insurer opens facility in Decentrlaand behind metaverse coin MANA

IMA Financial Group, a prominent US insurance broker and asset management firm, is establishing a research and development facility in the Ethereum-based metaverse Decentraland. This move follows in the footsteps of Wall Street bank JPMorgan, which recently entered Decentraland.

Justin Jacobs, the Senior Vice President of Marketing at IMA Financial Group and the architect of Web3Labs, stated that the company’s venture into the metaverse is named “Web3Labs” and is motivated by the rapid expansion of the non-fungible token (NFT) market.

Referring to Chainalysis’ 2021 research, Jacobs pointed out, “There’s this huge asset class worth over $40 billion without traditional insurance products. I think a lot of NFTs would be considered a form of art, and today we do a ton of work in underwriting assets like coins, fine art, collectibles.”

Square Enix enters The Sandbox metaverse with Dungeon Siege

Square Enix, known for its popular gaming franchise Final Fantasy, is venturing into the world of crypto games and has stirred some controversy with its latest move related to non-fungible tokens (NFTs).

The Japanese gaming giant confirmed its crypto gaming ambitions by announcing plans to bring its Dungeon Siege fantasy role-playing game to the Ethereum-based metaverse game The Sandbox.

Square Enix will integrate Dungeon Siege into The Sandbox through various means, including an interactive experience in the company’s own LAND within The Sandbox’s virtual world. Additionally, the publisher will provide Dungeon Siege characters and assets for players to utilize within The Sandbox’s gameplay tools.

Dungeon Siege, initially released in 2002, has sold over 1.7 million copies to date. While not as renowned as Square Enix’s Final Fantasy or Tomb Raider series, this move represents an exploration of the metaverse games using an established franchise.

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