The Sandbox invests US$1.7m in Hong Kong firm to build metaverse

The Sandbox, a popular virtual game platform for players to build their own worlds, is investing up to US$1.7 million in a Hong Kong-based metaverse company to support its development in the metaverse, NFTs, GameFi and Web3.

With the investment agreement, INDEX GAME has become the first Hong Kong firm to receive The Sandbox’s investment, and the first company in the city officially appointed by The Sandbox to build experiences for its decentralised metaverse.

The Sandbox is owned by Hong Kong-based blockchain powerhouse Animoca Brands.

The Sandbox’s investment can increase to up to US$6 million by 2023, and the company will also provide INDEX GAME an exclusive arrangement for IPs created during the collaboration, The Sandbox said in an August 22 statement. 

Established in 2021, INDEX GAME has since collaborated with 15 famous Hong Kong brands and IPs to build their virtual projects in The Sandbox. These included property tycoon Adrian Cheng, leading property developer Sun Hung Kai, Ocean Park, Hang Seng Bank and Fine Art Asia. 

It has been involved in building some of Hong Kong’s most iconic locations on the virtual platform, including a Hong Kong Star Ferry Pier and a Kowloon Walled City from the 1970s. It is also behind the NFT voxel project entitled Master 8.