Audience Engagement Digital Innovation
2 mins read

Forbes launches metaverse meeting place and event in the Sandbox

Earlier this year, Forbes expanded into the metaverse with the launch of its Billionaires NFT Collection on FTX, and the publisher is taking it a step further by launching its own metaverse meeting place in the Sandbox. The goal? Offering more opportunities for subscribers to engage in the metaverse.

Forbes, the American business and lifestyle publisher owned by IWMI and the Forbes family, has this week launched its inaugural event in Sandbox, one of the metaverse’s most popular platforms.

Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the blockchain. SAND is the native token on the platform, an ERC-20 asset running on the Ethereum (ETH) and Polygon (MATIC) blockchains.

In partnership with Sandbox, Forbes members each receive a wearable NFT as their ticket to enter the
metaverse. Attendees have the chance to explore the Forbes metaverse, including the NFT gallery, a DJ booth, bar, and dance floor, as well as explore the Forbes Highlander Yacht. Attendees also have the chance to interact with other members and answer trivia questions about Forbes and its history.

The objective, according to Vadim Supitskiy, Forbes’ Chief Technology Officer, is to engage with users
wherever they are. “We’re always looking to provide more value to our members and offer them
unique and engaging experiences – from the real world, Web2 and Web3,” said Supitskiy, “We envision
this space to be a place where our community will convene, make new connections, learn, discover new
ideas, entertain and have fun.”

Publishers shouldn’t be afraid to jump in and experiment. It’s still early days, but it’s also important not to get left behind. Believe me, you’ll learn a lot. And you need to be where your customers are. Monetization will come, but for now, it’s all about audience engagement.

Vadim Supitskiy, Forbes’ Chief Technology Officer speaking to WNIP

Forbes has been covering the metaverse since its inception, but made its first official embrace in April
2021 when it turned a Forbes cover into an NFT, followed by five consecutive covers featured in the
Forbes 2021 Billionaires magazine issue. Forbes also held its inaugural Forbes Digital Assets & Web3 Summit in March of this year.

Forbes isn’t the only publisher to use the metaverse as an audience engagement tool – The South China Morning Post earlier this year launched a metaverse experience as part of the Sandbox’s Alpha Season 2, one of the very first media organizations to do so in a bid to “reach a new generation of readers”.

SCMP’s partnership with the Sandbox created a distinct virtual world bringing the Hong Kong Star Ferry and Hong Kong Central Pier to life – two iconic Hong Kong landmarks – as well as a place where players could build, own, monetize, and explore.

The metaverse is a digital world where real-world concepts of value and scarcity can provably exist. SCMP’s 118 years of reporting and extensive library of photographs gave us the opportunity to breathe new life into historical locations in the metaverse. This serves as a bridge to connect with a new generation of readers and digital natives.