- Forbes just announced its entry into the metaverse with the establishment of a permanent land within The Sandbox on Monday.
- The latest move of the company displays its confidence in the “transformative potential” of the sector.
The New Forbes Metaverse Estate
According to Forbes, the virtual estate it just constructed in The Sandbox will serve as a venue for interactions and collaboration of its Web3 community members. To be a member, applicants must first sign up and connect their wallets via the designated webpage of Forbe’s Web3 Community Beta.
Members will be eligible to access premium content from Forbes worth $49.99 annually. They will also have priority admission and contribution opportunities to the Web3 projects of the publication. Likewise, this will allow them to get advice and investment signals from financial experts.
Forbes aims to turn its metaverse hub into an area where leaders, thinkers, and innovators can have meaningful conversations. Together with the exclusive interactive experiences it offers, it is also an ideal location for workshops, parties, and other special events organized by Forbes and/or its Web3 community members.
The company founded in 1917 has meticulously designed its space within the metaverse to embody an air of luxury and sophistication with its lavish pool, cozy bar, and gallery showcasing distinguished personalities, including the recipients of 2024 Forbes Under 30. Alongside these are QR codes scattered throughout the complex that will unlock exclusive content, exciting insights, and other experiences to ramp up the gamification and interactive experiences of users.
“Our venture into The Sandbox metaverse is a testament to Forbes’ commitment to embracing the forefront of technological innovation,” stated Forbes’ Chief Growth Officer Taha Ahmed. “By establishing a permanent presence in this digital realm, we are opening up new avenues for our community to connect, learn, and grow together in ways that were previously unimaginable.”
The Resurgence of the Metaverse
Forbes’ acquisition comes at an opportune time amidst the renewed and growing optimism of investors in the metaverse sector. This follows the major partnership unveiled by Disney and Epic Games to merge their intellectual properties (IP) in Fortnite. Likewise, it comes hot on the heels of the much-anticipated launch of Apple Vision Pro.
Despite these two mentioned projects noticeably avoiding any reference to “Web3” or “metaverse” in their press releases and marketing resources to avoid establishing links or generating confusion with Meta, they are considered to be the primary drivers in the resurrection of the sector.
After getting eclipsed by the developments of generative artificial intelligence (AI) in 2022 and 2023, 2024 is considered by analysts as the year when metaverse projects may see huge gains. According to Statista, the market for metaverse projects may boom into a $74.4 billion industry this year and it is projected to balloon to $507.8 billion by 2030.