The Sandbox signs metaverse deal with Saudi Arabia — a powerful alliance?

On Jan 31, 2023, the Sandbox Co-Founder and COO, Sebastien Borget, shared the exciting news on LinkedIn. 

“It is a true honor… and we look forward to exploring, advising and supporting each other in activations of the Metaverse!” Sebastian.

Moreover, he expressed his eagerness to delve into, consult on, and support each other in bringing the Metaverse to life.

Nonetheless, the partnership remains shrouded in mystery.

Sebastien’s announcement was delivered at the LEAP Tech Conference held at the Riyadh Front Expo Centre in Riyadh, Saudi Arabia. 

Metaverses to bounce back

Major headway on metaverses made in 2021 by blockchain ecosystems, as well as Meta, was brought to a halt in 2022 as a bear market loomed large. However, the start of 2023 has been marked by a resurgence, with cryptocurrencies and NFTs showing promising signs of growth.

A powerful alliance

This partnership marks a pivotal moment for a major player in the Metaverse world and distinguishes The Sandbox from its chief competitor, Decentraland.

Though the Metaverse sector has been relatively inactive, it’s far from ending. Without a doubt, this partnership could be a sign of more to come if the tides are truly turning. 

Before this news, both leading Metaverse competitors had been relatively quiet, with the last noteworthy event being The Sandbox’s alliance with Playboy.

Nevertheless, it will require more than just this singular partnership, especially with its extent still uncertain, to truly indicate a shift in momentum.