Japanese exchange Coincheck will be partnering up with gaming platform the Sandbox to create a new metaverse project called Oasis TOKYO.
The Sandbox has been one of the most notable platforms that seek to expand its way into the metaverse. With the announcement of the new project called Oasis TOKYO, it was said to be run on a piece of the Sandbox "LAND", which is owned by Coincheck.
According to the report, the new metaverse project will feature an environment of the year 2035 in Japan, with visitable locations like "art museums, stages, and other facilities" where the community will be able to interact with various companies and creators.
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The Sandbox has been working with the crypto exchange Coincheck since September of 2020, aiming to introduce the Japanese audience to the metaverse innovations and blockchain technologies.
Likewise, the partnership marked the launch of LAND, or digital real-estate on the Sandbox, which was sold on the Coincheck marketplace.
The Executive Director of Coincheck Kensuke Amo spoke about the upcoming project, hoping the metaverse will become one of the "leading virtual worlds globally." He added:
"We are committed to helping artists and companies connect with their fans and build communities in the metaverse."
While there is no set date for its release, the Oasis TOKYO metaverse project is expected to launch sometime in the spring of 2022.