The Sandbox Targets India's Largest Market
Metaverse platform The Sandbox has set its sights on transforming India into its largest market within the next two years since entering the country earlier this year through a joint venture with a local entity, marking a milestone for Animoca Brands' subsidiary.
The joint venture between Brinc and The Sandbox, announced in February 2023, established BharatBox.
India's cryptocurrency industry has faced challenging times following heavy taxation imposed by the country in 2022. However, the bold expansion of a Web3 gaming conglomerate into India at this time underscores the robust development potential of Web3 in the future.
Partnerships and Expansion
In the past six months, BharatBox has secured contracts with 25 Indian partners, including Eros Entertainment, Hungama, and Shemaroo, three longstanding entertainment and media companies in the Indian film industry.
Karan Keswani, CEO of BharatBox, stated, "Strategic partnerships with CoinDCX and Web3 wallet Okto have enabled BharatBox to reach 16 million users, with 5 million wallets active on The Sandbox. This could attract over 4 million players through the Okto community, positioning India as The Sandbox's largest market within the next 24 months."
Conclusion
The Sandbox's ambitious move into India, facilitated by BharatBox's strategic alliances and expanding user base, signals a pivotal opportunity amid the evolving landscape of Web3 technologies in the country.
