ANALYSIS OF DIGITAL REAL ESTATE IN THE METAVERSE ECOSYSTEM IN PREPARATION OF WEB 3.0 (CASE OF SANDBOX)

• Main Author: Dwi Ramadhianto, Rizqi
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/64779
• Institution: Institut Teknologi Bandung

Sandbox is an online game that has transformed into a metaverse project. Currently it is the second biggest metaverse project by market capitalization. Besides creating the cryptocurrency with the ticker SAND, they also created a digital real estate with the name LAND. In this digital real estate, users can interact and conduct events such as meetings and concert. In this research, author uses internal and external analysis of Sandbox to elaborate on current business issues. Due to the evolution of internet usage towards Web 3.0, followed by announcement of Facebook (now Meta) towards focusing their business model into metaverse, the price of cryptocurrency that is categorized as a metaverse coin had gain significant increasement. During Q3 2021 itself, SAND gained more than 500% increasement, which also resulting the price of their digital real estate have to also increase. Currently Sandbox is ranked 33 based on market capitalization in the cryptocurrency market. Furthermore their digital real estate, LAND is ranked number 6 in Opensea.io based on Non Fungible Token (NFT) trading volume historically. Furthermore Sandbox has been conducting several partnerships with several big companies and investors such as Softbank, Adidas, Samsung, and LG. This shows these companies and investors believe in the project of Sandbox have a big prospect in the future of metaverse ecosystem. With 166.464 LAND available to purchase as an investment asset since it give rewards paid in cryptocurrency for their owners, the project becomes interesting for investors to join in.