Adrian Cheng, a Hong Kong entrepreneur, investor, and CEO of real estate firm New World Development Company, is the latest to hop on the metaverse bandwagon, as he has invested an undisclosed sum in The Sandbox, a blockchain-based gaming platform. He will also be joining the game.
The Sandbox, a subsidiary of Animoca Brands, offers virtual real estate and allows players to monetize in-game items. To date, the platform has onboarded several top brands, including Adidas, Atari, Care Bears, and The Smurfs.
Adrian Cheng / Photo credit: The Sandbox
Cheng will own one of the largest plots in The Sandbox and become part of a virtual world called “mega city,” which will also have an “innovation hub” to showcase startups from the Greater Bay Area.
A preview of the virtual world on The Sandbox / Photo credit: The Sandbox
The featured startups, which are backed by investment firm C Ventures and accelerator Eureka Nova – both founded by Cheng – will provide exclusive non-fungible tokens and other experiences on the platform. These startups include Aesir, Casetify, DayDayCook, Lalamove, Prenetics, RaSpect, Rice Robotics, Rooftop Republic, Undone, and V Cycle.
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“Providing platforms for the next generation to be empowered to create, innovate, and feel part of something that’s paving the way for the future is critical to progress,” Cheng said in a statement.
Editing by Collin Furtado and Lorenzo Kyle Subido
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