Sandbox Group moves into Web3 in partnership with XDB Chain

Sandbox Group has tapped the easy-to-use open-source blockchain XBD Chain to power the development of its exclusive branded-cryptocurrency that will be made available as a payment choice to users of Sandbox’s portfolio of digital products and services worldwide.

The cryptocurrency will be designed to serve as a medium of exchange, enabling transactions, exclusive rewards, and incentives.

The education publishing firm said the “secure, decentralised, and transparent nature will ensure the integrity of the ecosystem”.

The launch of the cryptocurrency will be 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 permits multiple brands to collaborate across the same technology stack. This will enable 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, according to the company.

Shan Eisenberg, chief commercial official of Sandbox Group said “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.”

“We see this relationship as the perfect way to address the challenges faced by the cryptocurrency industry: mass adoption and user-experience,” added Daniele Mensi, CEO of XDB Foundation. “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.”