Hong Kong-based metaverse platform, The Sandbox, has announced its ambitious expansion plans in India, targeting to make the country its largest market in the next two years. Despite the regulatory uncertainties surrounding the Web3 industry in India, The Sandbox is optimistic about its growth prospects in the region. The metaverse platform, a venture of Animoca Brands, entered India in February 2023, establishing its Indian entity named BharatBox in collaboration with global venture accelerator Brinc.
With plans to engage with regulators and discuss the evolving space, The Sandbox co-founder, Sebastien Borget, expressed the platform’s commitment to navigating regulatory landscapes. As India’s Web3 industry awaits a comprehensive regulatory framework, expected by mid-2025, The Sandbox is strategically positioning itself to capitalize on the projected growth of the metaverse market.
BharatBox, The Sandbox’s Indian counterpart, has been actively forging partnerships, securing deals with prominent Indian media entities such as Eros Entertainment, Hungama, and Shemaroo. Currently unregulated in India, the Web3 industry is a focal point for The Sandbox’s expansion, and the platform is determined to contribute to shaping the regulatory environment.
In collaboration with the Okto Web3 wallet, The Sandbox has paved the way for crypto trading and transactions within its Indian ecosystem. The platform aims to build a diverse and inclusive virtual world that transcends borders, aligning with its vision to bring together different regions globally.
As The Sandbox doubles down on its India-related initiatives, it signifies a strategic move to tap into the country’s growing interest in the metaverse. With the metaverse market projected to reach a valuation of $800 billion by 2024, The Sandbox aims to play a pivotal role in shaping the metaverse landscape in India and beyond.
The Sandbox’s expansion plans align with the broader trend of increasing interest and adoption of cryptocurrencies and blockchain technology. The metaverse platform’s strategic partnerships and commitment to regulatory engagement position it as a key player in India’s evolving Web3 landscape.
The Sandbox Accelerates India Expansion in Metaverse Push
The Sandbox is intensifying its India expansion, eyeing to become the largest market in the next two years. Despite regulatory uncertainties in India’s Web3 space, the platform, under Animoca Brands, established BharatBox earlier this year, fostering partnerships with major Indian media entities.
With a vision of an inclusive virtual world, The Sandbox actively engages with regulators and collaborates with Okto Web3 wallet for crypto transactions, positioning itself strategically amid the projected $800 billion global metaverse market by 2024.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
