The British Museum partners with the Sandbox to enter the Metaverse
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London: The British Museum, a renowned institution preserving Britain's history, is joining the metaverse.
It has partnered with The Sandbox, a platform offering a fully functional virtual universe, to embrace the world of avatars and digital collectibles. The move marks the UK's progressive approach towards Web3, which encompasses crypto, NFTs, and the metaverse.
The collaboration between The Sandbox and the British Museum will see the creation of NFTs inspired by some of the artifacts showcased in the museum. Collectors will have the opportunity to own detailed digital versions of these historic pieces, providing a new way to interact with history.
The Sandbox officially confirmed the partnership on July 28, revealing that people worldwide will soon be able to visit the British Museum in a virtually immersive experience. LaCollection, the British Museum's licensing partner, will work in conjunction with The Sandbox to develop digital collectibles and experiences that showcase the museum's rich history.
NFTs, or non-fungible tokens, have been gaining significant attention in recent times. Sales of NFTs witnessed a remarkable 117% surge in February 2023, with the global NFT market's valuation reaching a nine-month high of over $2 billion in March 2023.
Despite their volatile nature, NFTs continue to captivate the interest of individuals due to their utility and investment potential.
Research conducted by CoinGecko and the Blockchain Research Lab revealed that people invest in NFTs for various reasons, such as exploring new technologies, acquiring stakes in NFT parent companies, or supporting social causes and charities.
The collaboration between the British Museum and The Sandbox not only offers financial benefits for both parties but also expands the museum's reach to a global audience. By venturing into the metaverse, the British Museum provides an exciting opportunity for The Sandbox players worldwide to engage with the museum's remarkable collections of human history, art, and culture.
