Saudi Arabia To Collaborate With The Sandbox

In this post

The Sandbox has signed a memorandum of understanding (MOU) with Saudi Arabia's Digital Government Authority to collaborate on metaverse projects. The news was confirmed in a tweet from co-founder & COO of The Sandbox, Sebastien Borget.

What It Means

The Sandbox, a web3 gaming platform and open NFT metaverse, signed the MOU at the 2023 LEAP Technology Conference. The details beyond that are vague but The Sandbox COO Borget said he looks forward to exploring, advising and supporting Saudi Arabia in activations of the Metaverse.

❗ Why It Matters

The metaverse has caught the eye of Saudi Arabia as well, after Dubai and the World Economic Forum both expressed their designs on it in January. The continued interest of global entities is a vote of confidence in the future of the metaverse.

📊 By the Numbers

The news has resulted in the token for The Sandbox (SAND) skyrocketing about 25 percent in the last 24 hours, from the low $0.70s range to near $0.90.

🎤 Community Quotes

Beautiful seeing the extraordinary investments 🇸🇦 has made. I feel regulation is our present frontier to mass adoption.G_is_us

Author Bio

Julian Son

NFT analyst

Started out sweating Top Shot queues in Feb 2021. Hoarded Koalas after seeing Gary V bought the #1 rarity Koala, then got rugged hard. Now living next to an underpass in Venice Beach. Loves most sports, except cricket. Hates snakes, SBF, and the IRS.

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