The partnership encourages Metaverse expansion and crypto adoption in Latin America
The Sandbox is one step closer to expanding its Metaverse experiences in Brazil. By partnering with the Web3 gaming company BAYZ, the blockchain game follows its growth plans announced in early 2022. The focus of this move will be the Brazilian market itself, which is one of the most open to adopting crypto in gaming worldwide.
The company will undertake strategic partnerships that strengthen the brand and, as Co-Founder of The Sandbox Sebastian Borget said, “help us include Brazil’s culture and diversity into the Metaverse.”
To what the partnership symbolizes, this will not be just an export of Brazilian elements but will connect the local audience to the game with its own entertainment and media.
This is already the second partnership announced by The Sandbox involving the South American country. In February 2022, the Brazilian Web3 Game Studio Hermit Crab joined the Metaverse. The goal was to create an in-game city inspired by Brazilian elements, particularly Rio de Janeiro.
In the same direction, sports in Brazil are another very popular area successfully connecting to blockchains in the country.
The Sandbox is one of the highest volume blockchain games today, as shown on the DappRadar Game Ranking.
What players can do
Players in the metaverse can build their own virtual world on one of the 166,464 LANDs available. Whatever they build can be shared with others.
They can also trade user-generated content on the in-game Marketplace as NFT assets, allowing gamers to get rewards from playing. How? By earning the game tokens SAND, which can be exchanged for any fiat currency (real-world) if desired.
The token’s performance this past week has been good. The number of active users has doubled and the amount of smart contract transactions has increased by around 79%. It’s a great token to keep an eye on, as you can read in our detailed SAND analysis. You can also track The Sandbox with DappRadar’s statistics.
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Brazilians are pioneers in crypto adoption
As indicated by the DappRadar Behavior Reports, Brazil is the 12th country in the world with the highest percentage of the population with investments in crypto assets.
Amid inflation and political volatility scenarios, around 10 million Brazilians came to own crypto in 2021. That’s 4,88% of the population of one of the most influential countries in the Americas. And, of course, widespread adoption is followed by politics.
In April 2022, the Brazilian Senate unanimously approved the so-called ‘Bitcoin Law’, regulating cryptocurrency transactions. This represents the beginning of what could be an even more crypto-friendly Brazil.
Certainly, an environment that favors crypto investments, as can be seen in the unstoppable scenario of web3 game startups and blockchain conferences set in Brazil this year.
NFT games lead the way
Despite the bear market of cryptocurrencies, Brazil lives its own independent reality. There, the demand for NFTs and blockchain games remains high. In fact, DappRadar’s NFT Traffic Ranking shows that the country comes in 3rd place worldwide.
And as the nation of soccer, the Brazilian market is already familiar with crypto thanks to PSG player Neymar Jr and his purchases of BAYC NFTs. Not to mention Brazil’s large soccer teams partnering up with various web3 gaming initiatives.
Even the first wedding held in Decentraland’s Metaverse took place in Brazil.
It’s been a busy year for Brazilians, but they seem to easily diffuse the complex concepts of cryptocurrencies in their culture.
The combination of current factors in Brazil transforms it into a sandbox with explosive potential. As a place of inequalities but with an entrepreneurial spirit, Brazil is one of the countries that have the most to gain from decentralized finance.
As anywhere in the world, what first makes ‘crypto talk’ possible is entertainment.
Making the metaverse an intrinsic part of the community is key to making it truly part of Brazil. Therefore, this is a crucial move to popularize Metaverses in all Latin American countries.
We at DappRadar will closely follow the growth of The Sandbox on our platform.