In a bid to dive deep into the web3 space, Forbes has launched a virtual 'luxury pool' for players in The Sandbox.
Forbes recently published Announced their entry into The Sandbox metaverse, claiming a permanent piece of virtual land. Describing the purchase as a testament to his faith in the transformative potential of the metaverse, Forbes envisions the space as a bustling community hub offering diverse interactive experiences, workshops and events.
Although specific details about these experiences have yet to be revealed, Forbes boasts that their virtual environment already boasts features like a “luxury pool, a chic bar, and an entire gallery dedicated to celebrating the 2024 Under 30 winners.”
“Our foray into The Sandbox metaverse is a testament to Forbes' commitment to embracing the cutting edge of technological innovation.”
Taha Ahmed, Chief Growth Officer, Forbes
However, insights from nft Price Floor paint a different picture of the virtual land market. Data sample a steady 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 February 20.
<img decoding="async" width="1024" height="413" src="https://crypto.news/app/uploads/2024/02/gulaydgfyusd-1024×413.png” alt=”Forbes buys land in The Sandbox to revive enthusiasm for the metaverse – 1″/>
Similarly, Decentraland, another virtual reality project focused on the metaverse, is also witnessing an exodus of investors, with the average minimum price per land reaching an all-time low. Despite these market trends, Forbes remains steadfast in its strategy, aiming to set a “new standard for what a metaverse experience can be.”
Forbes' latest move appears to be part of its ongoing efforts to cultivate a web3 community, potentially ahead of a new cryptocurrency rally. In December 2023, crypto.news reported on Forbes collaborating with blockchain startup Galxe to venture deeper into the web3 market with a project called ForbesWeb3.
