Hong Kong is a dynamic hub for testing new ideas, building communities and scaling global operations.
Digital development in Hong Kong has taken firm root in recent years, driven by the Government’s ongoing support for the innovation and technology (I&T) sector. This vibrant ecosystem, characterised by the city’s entrepreneurial spirit, I&T-oriented educational institutions and forward-thinking investors, has created an ideal environment for the growth of the online gaming platform The Sandbox.
Since its acquisition by Animoca Brands in 2018, The Sandbox has been growing its global user base, partnerships and brand collaborations, with over 40 percent of users originating from Asia in recent years. Its main product today is a free-to-play 3D blockchain gaming platform that leverages decentralised technology to provide users with true ownership and control over their digital assets. Through this third stage Internet development, players can make in-game purchases via its Ethereum-based cryptocurrency SAND while content creators can build unique worlds and monetise their efforts.
Hong Kong as a Web3 Hub
“Hong Kong’s strengths in finance and technology, its forward-thinking approach to digital asset regulation and its commitment to building a supportive Web3 ecosystem are vital to our success and growth in the Web3 space,” said Sebastien Borget, Chief Operating Officer and Co-founder of The Sandbox. “Our team in Hong Kong have deep understanding of local markets, strong industry connections, and the ability to adapt global initiatives for regional audiences in Asia.”
Hong Kong serves as The Sandbox’s strategic base, yielding partnerships in the creation of metaverse experiences with more than 70 leading Greater Chinese brands. “It is a dynamic hub for testing new ideas, building communities and scaling global operations,” said Borget.
Empowering the Next Generation of Digital Pioneers
The Sandbox has ramped up its commitment to the city’s educational institutions to support its growing Web3 ecosystem. “We offer hands-on learning experiences where students create digital assets, design games and learn the fundamentals of blockchain,” Borget explained. “We collaborate with various design and tech institutions to integrate Web3 and metaverse developments into their existing curriculum. A recent example is our collaboration with VTC member institution, Hong Kong Institute of Information Technology, which became the first official Training Partner of the Sandbox in Hong Kong.”
Borget is optimistic about Hong Kong’s Web3 potential: “The metaverse has already created hundreds of thousands of jobs and is expected to generate millions more in fields such as content creation, business, and tourism. Hong Kong is well-positioned to strengthen its educational initiatives, building a larger talent pool and preparing for an increasingly digital economy.”
