The British Museum, located in London, is set to enter the metaverse. This historic institution, which has been the home of British history since the 18th century, will now have a presence in The Sandbox, a platform that offers a fully functional virtual universe where entities can exist as avatars. The British Museum’s decision to join the metaverse demonstrates the UK’s progressive approach to embracing the Web3 sector, which includes cryptocurrency, NFTs, and the metaverse.
As part of this collaboration, NFTs inspired by artifacts displayed in the museum will be released for collectors to own as digital representations of historical pieces.
The Sandbox announced on July 28 that people from all over the world will have the opportunity to visit this iconic museum through an immersive virtual experience.
“The British Museum has chosen The Sandbox as its first venture into the metaverse. In collaboration with LaCollection, the British Museum’s licensing partner, the focus of this partnership is to develop digital collectibles and experiences that showcase the museum’s rich history,” stated a blog post published by The Sandbox.
Sales of NFTs experienced a significant increase of 117 percent in February 2023. By March, the global NFT market reached its highest valuation in nine months, surpassing $2 billion.
Despite their volatility, NFTs continue to captivate the interest of people. These digital collectibles possess both utility and investment value, making them attractive for buyers.
A recent study conducted by CoinGecko and the Blockchain Research Lab highlighted various motivations behind the sales and purchases of NFTs. These motivations include the desire to explore new technology, acquire shares in NFT parent companies, and contribute to social welfare and charities.
This partnership between the museum and The Sandbox ecosystem offers the potential for both parties to benefit financially while also extending the museum experience to a global audience.
“This is an excellent opportunity for The Sandbox players, regardless of their location, to discover and appreciate the remarkable collections of human history, art, and culture at the British Museum,” noted The Sandbox team.
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