India is rapidly expanding into emerging technologies like AI, cryptocurrency and blockchain. Due to this, many big firms related to these technologies are rapidly entering India. Looking at the rapidly growing market in India, while global exchanges like OKX and Coinbase are attracting Indian investors, blockchain protocol Algorand (ALGO) has expanded its reach in India and has partnered in various sectors here.
After which, due to the possibilities of Web3, gaming, and the metaverse here, it is attracting Animoca Brands' metaverse platform, Sandbox.
Actually, Sandbox wants to make India its biggest market in the coming two years, due to which Sandbox has joined hands with many Indian companies in the last year. Earlier this year, Sandbox partnered with global venture accelerator Brinc to create BharatBox, a cultural metaverse hub in India that brought together companies from India's Bollywood, entertainment, arts, and sports sectors.
In the last six months, 25 Indian companies have joined BharatBox, including the three biggest media entertainment companies in Indian cinema: Eros Entertainment, Hungama, and Shemaroo.
Along with this, Sandbox has partnered with India's leading exchange, CoinDCX, and its Web3 wallet, Okto, to make India its biggest market in the next two years. With this partnership, Sandbox can reach 16 million users in India. At the global level, Sandbox has 5 million wallets. Sandbox expects 3 to 4 million users to join the platform through Okto. In this way, it will make India its biggest market by creating a huge user base in the coming 24 months.
With this goal of Sandbox, India can become a metaverse hub in the coming years, which will directly benefit the companies in India's Bollywood, entertainment, art, and sports sectors. Increasing adoption of cryptocurrency, blockchain, and the metaverse in India will lead to the expansion of Indian companies in the global market.
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