On April 23, the prominent online gaming company The Sandbox penned a partnership agreement with Ledger Enterprise. The partnership agreement has tasked the Ledger team to develop innovative security solutions for Sandbox’s new project.
The Ledger team vowed to support the Sandbox in shifting their nonfungible tokens(NFTs) to a new Ledger wallet. The April 23 partnership will adopt a collaborative approach to launch new projects.
Objective of The Sandbox Partnership with Ledger Enterprise
The partners have agreed to support Sandbox in creating a unique decentralized application (DApp) that will be listed on the Ledger Enterprise platform. They also decided to utilize their proprietary infrastructures to develop a Live desktop application centered on the ledger platform.
Afterward, the Ledger team plans to create a wallet that will hold all the NFTs accumulated by the Sandbox. The expected developments compel the Ledger Enterprise to join Sandbox’s LAND platform.
Besides developing the decentralized platform, the Ledger enterprise plans to promote Sandbox products to the metaverse community. Remarkably the Ledger Enterprise has been providing digital assets security services to Web3 developers and metaverse investors.
The partners plan to expedite crypto-related studies to metaverse proponents. It was reported that last year the Sandbox and Ledger Enterprise had launched a Web3 game School of Block.
This initiative aimed at introducing crypto security training centered on Sandbox’s Metaverse platform.
Proposed Metaverse Project
The School of Block game was one of the successful projects the Sandbox has executed on the metaverse. In support of this, the company Vice President of Communication, Ariel Wengroff, demonstrated his positive stance on the company’s metaverse project.
In May 2022, the Ledger team generated $109 million in a Series C funding round, propelling the firm’s valuation to reach $1.4 billion. The successful funding round was led by fast-growing digital service providers, including VaynerFund, True Global Ventures, and Digital Finance Group.
Also, the Cite Gestion SPV supported the Ledger in its previous funding round. The funds raised from the funding project will be utilized to broaden the Ledger supply chain and diversify the product line.
According to the Ledger report, the $109 million will be rerouted to strengthen its distribution channel and launch new products. Besides the commendable achievements made by the Ledger team, the Sandbox team has been seeking to build a robust business network.
After a long pursuit for a business partner, the Sandbox team entered a business deal with the Kingdom of Saudi. Interestingly, the Saudi authority agreed to sign a memorandum of understanding (MoU) with the Sandbox in February.
The MoU document revealed that the Sandbox team would assist the Kingdom in exploring viable opportunities in the metaverse industry in the Arab region. Beyond this, the Sandbox has worked with industrial heavyweights in tech and Web3, including Snoop Dogg, Gucci, Warner Music, and HSBC.
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