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The Animoca Brands subsidiary – The Sandbox – purchased the Uruguayan technology company Cualit, aiming to accelerate the progress of the Web3 ecosystem and blockchain industry.
Shortly after the deal’s announcement, the price of the native token of The Sandbox – SAND – soared by nearly 12% and is currently trading at about $1.35.

One of the most popular blockchain-based online games – The Sandbox – acquired the Uruguayan development technology firm Cualit. Both parties vowed to join forces and develop an infrastructure that could promote innovations in the Web3 and blockchain universe. 
Prior to the deal, The Sandbox has worked closely with Cualit and its Co-Founders – the Perez brothers – for more than a year. After signing the agreement, the South American organization was renamed The Sandbox Uruguay.
The native token of the blockchain-based game headed north following the disclosure. SAND is up by almost 12% in the last 24 hours, trading currently at approximately $1.35.
Still, the asset has been significantly affected by the recent crypto crash and stands far away from its all-time high of around $7.50 registered last November.
Cualit has been deeply involved in the blockchain industry for the last decade. It has aided several companies and projects in Uruguay technologically, as well as lobbying for the digital transformation of the nation. As a rebranded entity, its main focus will switch to supporting The Sandbox’s efforts.
Uruguay is the second South American country where the Animoca Brands subsidiary has expanded after launching a development team in Argentina. 
Commenting on the most recent acquisition was Arthur Madrid – CEO and Co-Founder of The Sandbox:

“Uruguay is a fantastic place to invest in technology, and we see a new generation of developers who want to rethink the way we are using and owning our data through the open Metaverse.”


Earlier this week, The Sandbox inked another major agreement – this time with the iconic jazz band Jamiroquai. 
The partnership aims to bring the group’s hit song “Virtual Insanity” to The Sandbox’s virtual LAND – a digital piece of real estate in the game’s Metaverse that users can purchase to build experiences on top of it.



The Sandbox keeps expanding in South America by acquiring Cualit. SAND reacted to the news, soaring by almost 12% over the past 24 hours.

cryptopotato.com

SAND Jumped 12% Following The Sandbox’s Acquisition of Uruguayan Tech Firm

Jamiroquai is the latest entity to join more than 200 of The Sandbox’s partnerships that include Ubisoft, The Rabbids, Gucci Vault, The Walking Dead, Snoop Dogg, Adidas, The Smurfs, and CryptoKitties, among others.
The Animoca Brands subsidiary announced the partnership with the legendary funk and acid jazz band – Jamiroquai – which is well-known for their 1996 global smash hit “Virtual Insanity.”

According to the official blog post, the goal of the strategic collaboration will bring the song that was released as the second single from their third studio album, Travelling Without Moving, to its virtual LAND in The Sandbox.
While the song did manage to capture the audience and even fetched a Best Video at the VMAs more than twenty years ago, its Director Jonathan Glazer admitted that there was no “computer trickery” used with the famous floor moving concept.
Jamiroquai shared a 38-second teaser of the famous song in pixel format to give a glimpse of what to expect in the virtual real estate.
The British funk band said in a statement,

“Jamiroquai has always been future facing and super social – creating a LAND where everyone can come together in The Sandbox with a bit of funk, freedom, and fashion will provide a communal place to digitally connect with our fans and fellow music lovers. We look forward to telling you more soon, but for now can say that hats will definitely be involved.”

The Sandbox metaverse has emerged as one of the most high-profile metaverse players.
Earlier this month, Dubai Virtual Assets Regulatory Authority (VARA) announced purchasing its first piece of land in The Sandbox metaverse to open virtual offices.

Featured Image Courtesy of Smooth


The Sandbox has partnered with Jamiroquai who is well-known for their 1996 global smash hit "Virtual Insanity."

SoftBank-backed The Sandbox Partners With Legendary Jazz Band Jamiroquai

Square Enix has announced its new mid-term business plan, reinforcing its blockchain pivot according to the documents presented. The company will continue to invest in key companies in the blockchain arena, including Animoca Brands and The Sandbox, and will also consider other investments in the area. Square Enix recently sold its Western studios for $300 million, but will reportedly not use the funds to pursue these new Web3 investments.
Square Enix Structures Blockchain Strategy
Square Enix, the Japanese gaming company, seems determined to include blockchain and play-to-earn (P2E) as part of its business and monetization scheme for the future. In its recent earnings call, the company disclosed plans regarding blockchain and play-to-earn and the investments it will make in this area.
As part of its mid-term business strategy, the company reported taking on new domains, meaning that it will be putting funds behind new fields, including what it calls the “blockchain entertainment domain.”
Also, Square Enix is taking other, more concrete steps regarding its blockchain pivot. The company will seek to “establish regulatory clarity and guidelines for blockchain games,” including NFT zones and experiences. Square Enix also contemplates issuing exclusive fungible tokens and complementing these with games whose world-building will be designed to include them. This hints at the establishment of new IPs using blockchain, play-to-earn, and NFTs.

New Investments and Business Structure
The company also announced new investments in companies that are already established in the Web3 and metaverse space. The document mentions Animoca Brands, a company with a big portfolio of blockchain gaming investments, and The Sandbox, one of the first experiences launched using Web3 and metaverse.
Square Enix is one of the few companies that has strived to include these technologies in their business model in a structured way. Other, similar developers like Ubisoft and Konami have also started to dabble in the space, but arguably without such a defined approach.
Earlier this month, the company sold part of its Western studios and operations to the Embracer Group for $300 million, and declared this transaction important to enabling “the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.” However, according to statements of the company in the earnings call, the $300 million will be directed to reinforce the core business of Square Enix. Analyst David Gibson reported that this new business will use different finances, separate from these funds.
What do you think about Square Enix’s blockchain plans? Tell us in the comments section below.



























Square Enix has announced its new mid-term business plan, reinforcing its blockchain pivot according to the documents presented. The company will continue to invest in key companies in the blockchain arena, including Animoca Brands and The Sandbox, and will also consider other investments in the ...

news.bitcoin.com

Square Enix to Reinforce Blockchain Bet, According to Latest Earnings Report

The Dubai virtual assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters in The Sandbox virtual world. By establishing a presence in the metaverse, the regulator said it hopes to make itself accessible to all stakeholders. 
World’s ‘Virtual Assets Capital’
Dubai’s digital assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters (HQ) in the virtual world of The Sandbox, a statement from the regulator has said. The regulator said its objective for setting up the metaverse HQ is to ensure VARA “is accessible to its industry in their environment.”
VARA is also expected to help facilitate engagement between virtual asset service providers (VASPs), industry influencers, and global regulators. According to the statement, by making this move, the Dubai regulator is signaling a willingness to make the Emirate “the world’s Virtual Assets Capital.”

Maintaining Dubai’s Lead
In remarks following the announcement, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, said:
“Dubai maintains a leading position at the forefront of technological transformation. We have exceeded the role of an early adopter to become an innovator and participant in shaping the future of this technology. Today, VARA joins the metaverse to become Dubai’s – and the metaverse’s – first government authority, ushering in a new era in which [the] Dubai government utilises modern innovations to extend its services and regulatory power to audiences in an open technological expanse, without constraints or borders.”
Sheikh Hamdan added that by establishing the metaverse HQ, VARA has created a decentralized regulatory model that allows stakeholders to share or exchange knowledge, and solve problems collectively.
Helal Saeed Almarri, the director-general at the Dubai World Trade Center Authority, said: “As the first niche regulator for the VA [virtual assets] sector globally, VARA’s Metaverse HQ also makes the UAE the first jurisdiction to enter this platform, reflecting our leadership’s aspiration to facilitate a borderless new market enabling sustainable economic freedom.”
What are your thoughts on this story? Tell us what you think in the comments section below. 



























The Dubai virtual assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters in The Sandbox virtual world. By establishing a presence in the metaverse, the regulator said it hopes to make itself accessible to all stakeholders. World&#x2019;s &#x20...

Dubai Virtual Assets Regulator Establishes HQ in the Metaverse

On May 03, The Dubai Virtual Assets Regulatory Authority (VARA) announced the purchase of a piece of land in The Sandbox metaverse, meant for the development of virtual headquarters.
According to an official statement, the VARA is stepping into the Metaverse to reach a “borderless audience,” while also improving social inclusion and environmental sustainability by using fewer physical resources to manage its activities.
In addition, VARA’s MetaHQ will serve as the main channel to share experiences and information with all developers, younger people, and players who frequent the Metaverse, thus enabling “secure adoption” to drive global interoperability.
VARA is the first government authority to invest in the Metaverse
Dubai is known not only for tourism but for technological innovation. And this announcement is just another example. VARA would become the first regulator to purchase land in the Metaverse, making history in the crypto industry.
Hamdan bin Mohammed al Maktoum, Prince of Dubai and Prime Minister of the United Arab Emirates, said that by expanding VARA’s resources, the country would be in a position to reach out to all users in the Metaverse. He also invited all authorities around the world to participate and exchange ideas to build a better global economy through the use of virtual assets.
“Dubai is creating a prototype Decentralized Regulator Model, inviting international thought leaders – global authorities, governance custodians, and industry shapers – to participate, exchange knowledge, and problem-solve collectively so that we enable the dynamic virtual assets sector to build economic resilience, accelerate social inclusion, and address environmental sustainability.”
This new foray into the Metaverse will accelerate Dubai’s GDP
Helal Saeed Almarri, Director-General of the Dubai World Trade Center Authority, said that Dubai views the virtual asset industry as the driver of the future global economy. The diplomat added that this new move is coming at a “crucial time” in response to the expansion of the “incredibly sophisticated and modern legal framework” that Dubai is deploying to regulate the cryptocurrency ecosystem as a whole.
Helal Saeed Almarri further noted that the acquisition of land in The Sandbox is a sign of their confidence in this burgeoning industry, which they hope to grow in adoption until it becomes a bridge to securely and responsibly attract new investors and consumers.
“As the first niche regulator for the VA sector globally, VARA’s Metaverse HQ also makes the UAE the first jurisdiction to enter this platform.”
As reported by CryptoPotato recently, Dubai continues to strive to become a globally recognized crypto-friendly nation. A goal that is not far off considering that they are currently home to a large number of crypto projects.


One of Dubai's regulators has just purchased its first piece of land in The Sandbox metaverse with the aim to open virtual offices.

The Sandbox price	$1.34
Low - High 24H	$1.27 - $1.39
Market cap	$1.65B
Volume 24H	$256.49M
All time high	$8.40 -84.00% November 25th 2021
All time low	$0.028978 4536.09% November 4th 2020
Genesis date	N/A

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