TIME Magazine and The Sandbox are constructing a simulated Times Square in the metaverse.
TIME Magazine has extended its entrance into the realm of cryptocurrencies and NFTs by teaming up with blockchain-based game business The Sandbox to construct TIME Square in the metaverse.
The effort was inspired by the “virtual spirit and vitality” of the actual Times Square district in New York City, according to the official statement.
Times Square is a cultural hub, commercial crossroads, tourist attraction, and neighborhood located in Midtown Manhattan, New York, United States. This region is renowned for its enormous, lit advertising billboards and is known as the “heart” and “crossroads” of New York.
TIME intends to replicate a comparable concept in the metaverse. The agreement will enable the media business to construct TIME Square on its virtual property in The Sandbox, making it TIME’s very first metaverse destination since joining the NFT sector last year.
Developing into the Core of the Metaverse
In September 2021, the renowned media business launched TIMEpieces, an NFT community effort showcasing the original artwork of over forty important artists. There are now four NFT collections in the community: Genesis, Inspiration, Long Neckie Women of the Year, Slices of TIME, and Beatclub Collection.
According to Keith A. Grossman, president of TIME, the company’s mission is to create a virtual environment that will become the “heart of the metaverse.”
“Our objective is to build a location that will serve as the center of the metaverse. Since the debut of TIMEPieces in September 2021, we have concentrated on building a Web3 community that has benefitted from TIME’s 100-year heritage and access,” he added.
A natural span
TIME Square will serve as an inclusive platform for TIMEPieces holders to enjoy unique experiences, such as attending educational and recreational meetings and events produced by TIME Studios.
Grossman said that TIME Square will serve as a “natural bridge” between the company’s virtual community, historical coverage, worldwide contacts, and actual occurrences.
The co-founder of The Sandbox, Sebastien Borget, said about the partnership: “By teaming with TIME, we’re adding TIMEPieces as the throbbing heart and soul of this virtual Manhattan, where a design call for virtual architects will take place in TIME Square, a location in our creative metaverse for companies and artists.”
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