Sandbox moves into Web3 through partnership with XDB CHAIN
October 11, 2023
Sandbox Group, the London-based group operating a network of learning businesses, has announced a partnership with XDB CHAIN, the open-source blockchain used to power digital assets. The collaboration will see the development of an exclusive branded-cryptocurrency that will be made available as a payment choice to users of Sandbox’s wide portfolio of digital products and services worldwide.
The soon-to-be released cryptocurrency will serve as a medium of exchange, enabling transactions, exclusive rewards, and incentives. Its secure, decentralised, and transparent nature will ensure the integrity of the ecosystem, aiming to address some of the most pressing challenges in the education sector’s digital transformation and growth.
The launch of the new branded-cryptocurrency represents a key development in the world of blockchain as it will be exclusively integrated into Sandbox Group’s portfolio of brands and services that include Kidomi, the all-in-one super app, and Code Kingdoms, online coding courses for kids.
XDB CHAIN has lately introduced Branded Coins (BCOs) that allows multiple brands to collaborate across the same technology stack. This innovative concept will allow Sandbox Group to provide progressive benefits to its users with an enhanced user experience in web3, the decentralised internet, as well as offer special discounts, resulting in even better value for its subscribers.
Shan Eisenberg, Chief Commercial Official of Sandbox Group, said: “We’re thrilled to announce the launch of the new cryptocurrency which will enhance our existing Sandbox Group products and will offer unique incentives to our users. Our decision to mint the cryptocurrency exclusively on the XDB CHAIN stems from XDB CHAIN’ innovative approach to blockchain technology, specifically engineered to onboard brands and leverage loyalty ecosystems.”
Daniele Mensi, CEO of XDB Foundation, added: “We’re excited about partnering with Sandbox Group as we see this relationship as the perfect way to address the challenges faced by the cryptocurrency industry: mass adoption and user-experience. By integrating this new cryptocurrency into Sandbox Group’s product ecosystem that reaches millions of users worldwide, we aim to encourage widespread legitimate acceptance of cryptocurrencies towards a set of enhanced real-world use cases.”
The official whitepaper will be released later this month, including the name of the coin and all details. The launch of this new cryptocurrency is expected in early 2024.