Coincheck and The Sandbox Plan to Develop a Metaverse City

The crypto services provider, Coincheck and The Sandbox, a prominent company that promotes the use of gaming metaverse, announced that the companies have started to build a new metaverse city today.

Dubbed Oasis TOKYO, the project is a near-future city that will be built on the land owned by Coincheck. According to the company, details of the new city will be available in Spring 2022.

“Oasis TOKYO is a community platform of a metaverse and a Non-Fungible Token (NFT), showcasing the concept of the year 2035 near-future city. Art museums, stages and other facilities are located in a symbolic streetscape that evokes the image of Japan. The city is designed to offer a forum for artists from different fields and their fans to connect while companies are encouraged to develop their own communities,” Coincheck mentioned.

In September 2020, Coincheck and The Sandbox developed a collaboration for the promotion and brand awareness of The Sandbox in the Japanese market. Additionally, the companies partnered to increase the sale of land on the NFT marketplace called Coincheck NFT.

Metaverse

The growing popularity of the metaverse has changed the dynamics of the crypto and blockchain ecosystem. In November 2021, Barbados announced that the country is planning to establish the world’s first metaverse embassy. Additionally, leading players in the crypto market have enhanced their efforts to increase the adoption of metaverse and blockchain gaming. Huobi recently launched a campaign worth $100 million to explore possibilities within the Metaverse ecosystem.

In the latest announcement, Kensuke Amo, the Executive Director of Coincheck, said that the popularity of metaverse will accelerate in the near future. “We are committed to helping artists and companies connect with their fans and build communities in the metaverse. I am personally excited about the development of this project. I have no doubt that users will enjoy this joint project of Coincheck and The Sandbox,” Amo said.