Forbes acquires property in The Sandbox to reignite excitement in the metaverse

Forbes has made a bold foray into the web3 realm by unveiling a virtual “luxurious pool” for participants in The Sandbox.
The prestigious publication has officially entered The Sandbox metaverse, securing a permanent slice of virtual real estate. This acquisition, according to Forbes, symbolizes its confidence in the metaverse’s transformative capabilities. Forbes envisions this virtual space as a vibrant community center offering a myriad of interactive experiences, workshops, and events.
While specific details about these experiences remain under wraps, Forbes touts the virtual environment’s existing amenities, including a lavish pool, sophisticated bar, and an extensive gallery dedicated to honoring the 2024 Under 30 awardees.
In a contrasting perspective, data from NFT Price Floor paints a different picture of the virtual land market. Figures indicate a consistent decrease in the average price per land in The Sandbox since October 2022, plummeting to a record low of 0.204 ETH per land by February 20.
The declining trend extends to Decentraland as well, another virtual reality venture in the metaverse, which is also witnessing a mass exodus of investors and a drop in the average floor price per land. Despite these market challenges, Forbes remains resolute in its approach, striving to establish a “new benchmark for the metaverse experience.”
Forbes’ recent initiative seems to align with its ongoing efforts to nurture a web3 community, possibly in anticipation of a forthcoming crypto surge. In December 2023, crypto.news highlighted Forbes’ partnership with blockchain startup Galxe to delve deeper into the web3 market through a project named ForbesWeb3.