The Sandbox, Coincheck Partner To Boost Adoption Of Digital NFT Assets And Virtual Land In Japan

Blockchain, News | September 16, 2020 By:

The Sandbox, a subsidiary of game developer Animoca Brands, is collaborating with Japanese cryptocurrency exchange Coincheck to facilitate broader distribution of non-fungible tokens in the Japanese gaming market for tokens created, used and traded within The Sandbox virtual world gaming platform, through the Coincheck NFT marketplace to be launched.

The Sandbox, which is scheduled for release in December of this year, is a community-driven gaming platform that will allow creators to monetize assets and gaming experiences on a blockchain, enabling them to benefit from their creations. The Sandbox will enable players to build, own, and monetize their gaming experiences through the use of Non-Fungible Tokens (NFTs) and the utility token $SAND (the ERC-20 fungible token that serves as the main utility token of the platform). LANDS are non-fungible tokens (ERC-721) NFTs that represent unique digital locations in the universe of The Sandbox, where players can build and monetize games.

As part of the partnership, Coincheck will work towards listing NFTs used and traded within The Sandbox to its own NFT marketplace. The Sandbox has conducted four successful LAND presales in 2020, selling more than $1,500,000 worth of LANDS (ERC-721 NFTs) to thousands of global users. Even without localization, The Sandbox already ranks Japan in the Top 5 for LAND purchases.

“Following the launch of our Game Makers Fund in Osaka on October 2019 at Devcon5, we’ve grown Japan into the fifth largest country for purchases of LANDS and other NFTs in The Sandbox metaverse,” said Sebastien Borget, Co-Founder and COO of The Sandbox. “The partnership with Coincheck is a stepping stone towards broader recognition and adoption of NFTs by Japanese gamers and we’re thrilled to be among the first projects leveraging the Coincheck platform in this important market.”

“We look forward to collaborating with The Sandbox,” said Kensuke Amo, executive officer of Coincheck. “Coincheck already has 3 million app downloads, 2 million users, and more than $100 million worth of ETH in our custody. Japanese users who are not familiar with The Sandbox will know and visit The Sandbox in the process of purchasing LANDS on Coincheck platform. We would like to expand mass adoption through blockchain games and NFTs.”