Coincheck to launch metaverse city “Oasis TOKYO” with The Sandbox

TL/DR: Breakdown

• On 31st January 2022, Coincheck and The Sandbox announced a plan to build a metaverse city “Oasis TOKYO.”
• The project is set to be launched in the spring of 2022.

Cryptocurrency service provider Coincheck and The Sandbox has announced a plan to build a metaverse city under a project name “Oasis TOKYO.” According to the report on Monday, the metaverse city is set to be launched in the spring of the year 2022. Players can build, own and monetize their gaming experiences in the metaverse, a place for having fun and socializing with others in multiplayer experiences.

The two companies operating from Tokyo have merged to build the project Oasis TOKYO on The Sandbox metaverse land, bought by Coincheck. Oasis Tokyo will offer users chances to be involved in the metaverse activities and make a more significant venture in The Sandbox communities.

The gaming industry seems to be a more incredible option to the cryptocurrency market; hence, Oasis Tokyo is likely to be favored when launched in spring 2022.

Coincheck explained that Oasis TOKYO is designed as a community platform comprising non-fungible tokens (NFT) and the metaverse, which will magnify the picture of the near future 2035. Oasis TOKYO will offer experts and users from these fields a forum to connect amongst themselves as a community platform.

The Sandbox has been heading the metaverse and NFT activities in Japan since 2020. It partnered with Coincheck in the same year, and both companies have worked jointly by selling LAND through the Coincheck NFT beta version, which is most important for launching games in the Sandbox.

The increasing interest in the metaverse has altered the changes in the digital assets and the blockchain environment. Recently, Indias top software firm announced it was set to tap into metaverse opportunities. Analysts cited that the metaverse is estimated to rise and open bigger opportunities for Indian IT firms in gaming. Coincheck director, Kensuke Amo, is also one of the industry players who believe that the popularity in the metaverse is likely to increase in the near future.

Similarly, some analysts have projected that the future of NFTs is bright and might even surpass Bitcoin. These comments have backing from the ever-growing Institutional acknowledgment of NFTs.