Forbes has recently made a significant move into the web3 space by acquiring virtual land in The Sandbox metaverse. This purchase reflects Forbes’ belief in the transformative potential of the metaverse, envisioning it as a vibrant community hub with interactive experiences, workshops, and events.

Although specific details about these experiences have not been disclosed, Forbes has already introduced features such as a luxurious pool, an elegant bar, and a gallery dedicated to celebrating the 2024 Under 30 recipients in its virtual environment.

Taha Ahmed, Forbes’ chief growth officer, stated, “Our venture into The Sandbox metaverse demonstrates Forbes’ dedication to embracing technological innovation.”

However, market insights from NFT Price Floor reveal a different perspective on the virtual land market. Data shows a steady decline in the average price per land in The Sandbox since October 2022, reaching an all-time low of 0.204 ETH per land as of Feb. 20.

Similarly, Decentraland is also experiencing an investor exodus, with the average floor price per land hitting an all-time low. Despite these market trends, Forbes remains committed to its strategy of setting a new standard for the metaverse experience.

Forbes’ recent move is part of its ongoing efforts to cultivate a web3 community in preparation for a potential new crypto rally. In December 2023, Forbes collaborated with blockchain startup Galxe on a project called ForbesWeb3 to further explore the web3 market.

Forbes’ entry into The Sandbox metaverse marks a significant step in its journey towards embracing the future of technology and digital experiences. Stay tuned for more updates on web3 developments on Global Crypto News.

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