Following a successful joint venture metaverse initiative in January, The Sandbox has formally joined with Cube Entertainment.
Exposure to Mainstream Culture in Korea
Through this relationship, The Sandbox and Cube Entertainment will bring together various business players and host events to introduce Korean culture into the metaverse, giving businesses access to not only K-pop but also K-culture.
As a first stage, a K-Culture complex cultural area will be built on Cube Entertainment’s LAND. In this blockchain-based virtual space, users from all around the world can learn about Korean culture.
Cube Entertainment and The Sandbox have Agreed to Work together to Promote ‘K-Culture’ to the General Public
The Sandbox, a metaverse gaming subsidiary of Animoca Brands, has joined with Cube Entertainment of South Korea in an ambitious effort to promote Korean culture to the rest of the world through the creation of digital assets.
The news builds on a joint effort between the two businesses’ music metaverse AniCube, which is centered on K-pop, announced last month. K-pop, short for Korean popular music, is a kind of music that originated in South Korea and has a huge fan base in China and Japan.
According to the corporations, the alliance would focus on economic expansion by bringing in diverse foreign companies into the metaverse and hosting events to introduce them to Korean culture.
Cube is the world’s fifth-largest K-pop company, behind BigHit and the Big Three. Last year, the corporation earned a net profit of 52.95 billion Korean won (US$43.9 million).
A cultural center is known as the “K-Culture complex” will be constructed on Cube’s virtual land plots inside The Sandbox’s open metaverse as a first stage.
The Sandbox is a decentralized game environment built on Ethereum that allows players to create and market non-fungible tokens (NFTs). In January, the company announced a $50 million investment in a new accelerator program for entrepreneurs wanting to grow in the company’s ecosystem.
According to the press statement, Cube will be tasked with creating material related to Korean culture through several relationships with Korean businesses, while The Sandbox will provide technological support.
Cube is fully embracing the idea of the open Metaverse by expanding into The Sandbox via its K-culture hub, where it is actively selecting local brands and partners of its flagship K-POP label,” stated Sebastien Borget, co-founder of The Sandbox.
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