JAKARTA – The largest metaverse platform The Sandbox has partnered with Cube Entertainment aimed at promoting Korea globally. Promotion will be carried out by operating virtual spaces and developing digital assets.
According to the blog post, The Sandbox and Cube will concentrate on “detailed collaboration for business expansion” related to the metaverse and NFT. It started with establishing a recently launched joint venture under the name AniCube, a merger between Animoca Brands and Cube Entertainment.
Launching CryptoPotato, the two companies plan to bring various companies on their list and organize events to introduce Korean culture in the metaverse, not only limited to K-POP with new business alliances.
Initially, Cube, with its LAND token holdings, will create a complex cultural space of K-Culture, thereby enabling users to experience the Korean lifestyle in a virtual area powered by blockchain technology.
Spatial projection technical support will be provided by The Sandbox, while Cube is in charge of preparing unique content related to K-Culture by establishing partnerships with several domestic companies. In an effort to promote the space, artists affiliated with entertainment companies will also join in.
“Cube truly embraces the spirit of the open Metaverse by going further into The Sandbox through a K-culture hub, where Cube is actively curating local brands and K-label POP partners and offering their presence to The Sandbox through its own soil,” said Cube. Sebastien Borget as COO and Co-Founder of The Sandbox.
Executives believe Cube will play a major role in expanding Korean culture around the world in the metaverse. Considering it the key to the fourth industrial revolution, Borget said that the K-POP wave, as well as K-culture itself, will have a strong influence in every sector.
The South Korean entertainment industry is trying its hardest to embrace NFT and the metaverse. The country's lawmakers have an ambitious roadmap going forward. CryptoPotato reports that South Korea plans to spend around $187 million to develop the metaverse ecosystem as part of the “New Digital Deal.”
South Korea's Ministry of Science and Technology Information and Communication revealed that it plans to direct its capital – Seoul – in particular, towards the metaverse to encourage industrial and business development. The government wants to build the world's fifth largest metaverse market by 2026.
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