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The Sandbox(SAND) New partnership with SM Brand Marketing
The SandboxPartner's Name
SM Brand Marketing
Counterparty Website
https://www.smtown.com
Counterparty Details
SM Brand Marketing (SMBM) is a subsidiary of a South Korean entertainment company SM Entertainment (SM).
Does this partnership generate any kind of revenue?
NO
Applicable Date(s)
2022-02-23
Partnership Details
On February 24, 2022, The Sandbox announced the partnership with SM Brand Marketing (SMBM) to build a Play2Create (P2C) ecosystem on its metaverse platform. SMBM will create ‘SMTOWN LAND’ in K-verse, a specialized area for K-content in the Sandbox. They will hold events such as concerts and fan meetup on SMTOWN LAND. The Sandbox and SMBM will collaborate to plan and produce NFT based on their IP. Moreover, ‘Re-creator Economy’ will be formed for users to able to enjoy multiple games and create NFT items based on SM Entertainment Group’s IP. This partnership will enable fans around the world to enjoy a fan-participatory service.
Play-to-Create (P2C) ecosystem
P2C allows users to reproduce contents using IP. By using the tools and IP provided within the e-commerce and metaverse platforms, users can recreate content and products in the forms of games, music, dance, and goods. Within the P2C ecosystem, these contents and products can be converted into NFTs, allowing users to earn profits while also gaining recognition for their originality.
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