Forbes Invests in The Sandbox Land to Reignite Metaverse Excitement
Forbes has entered the web3 arena with an exciting new addition to The Sandbox. The renowned publication has acquired a permanent piece of virtual land in the metaverse, demonstrating its belief in the transformative power of this digital realm. Forbes envisions its virtual space as a vibrant community hub, offering a multitude of interactive experiences, workshops, and events.
While specific details about these experiences have yet to be unveiled, Forbes is already proud to showcase some of the features in its virtual environment. These include a stunning “luxurious pool, an elegant bar, and a comprehensive gallery dedicated to celebrating the 2024 Under 30 recipients.”
However, insights from NFT Price Floor paint a contrasting picture of the virtual land market. Data reveals a consistent decline in the average price per land in The Sandbox since October 2022, reaching an all-time low of 0.204 ETH per land as of Feb. 20.
Decentraland, another metaverse-focused virtual reality project, is experiencing a similar exodus of investors, with the average floor price per land hitting an all-time low. Despite these market trends, Forbes remains unwavering in its strategy, aiming to establish a “new standard for what a metaverse experience can be.”
Forbes’ recent move appears to be part of its ongoing efforts to foster a web3 community, possibly in anticipation of a new crypto rally. In December 2023, crypto.news reported Forbes’ collaboration with blockchain startup Galxe to delve deeper into the web3 market with a project named ForbesWeb3.
