Hong Kong theme park partners with The Sandbox

Ocean Park, Hong Kong’s second-largest theme park, is “heading into the metaverse”

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The Sandbox has entered into partnership with Hong Kong’s Ocean Park – Photo: Alamy
                                

Ocean Park, Hong Kong’s second-largest theme park, has announced a partnership with The Sandbox (SAND) to create digital entertainment experiences in the virtual world of non-fungible tokens (NFTs) and gaming.

To celebrate its 45th anniversary, Ocean Park is transforming itself and “heading into the metaverse”. The park is also being revamped physically, with new retail, dining and entertainment, wellness and adventure zones.      

Ivan Wong, chief executive of Ocean Park, said: “We will fill our virtual land at The Sandbox with creative content and offerings that are distinctively Ocean Park. We are confident that our fans and the NFT community will welcome the opportunity to explore Ocean Park in a whole new dimension while creating and sharing their user-generated content on our platform.”

“Welcome to the metaverse”

Sebastien Borget, chief operating officer COO) and co-founder of The Sandbox, said: “We are thrilled to welcome Ocean Park to The Sandbox metaverse. As one of Asia’s most dynamic leisure and resort destinations, Ocean Park also plays an iconic role in Hong Kong’s cultural and entertainment landscape.

“We will work with them on setting the first example of how entertainment can be leveraged with NFTs and play-and-earn to engage and reward both local visitors and those from around the globe,” Borget said.

JP Morgan dives into the metaverse

This news arrived just as US financial giant JP Morgan opened a lounge for its blockchain-focused Onyx division in the 3D virtual world, Decentraland.

The New York-headquartered bank believes the metaverse is likely to infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1trn (£0.73trn) in yearly revenues. JP Morgan believes its core strengths in cross-border payments, foreign exchange, financial assets and trading, as well as its consumer foothold, can play a major role in the metaverse.

In an 18-page report accompanying the Land purchase, the financial giant mentions that leading brands such as Walmart, Nike, Gap, Verizon, Hulu, PwC, Adidas and Atari have already dipped their toes into the metaverse.

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