“Forbes” Officially Enters The Sandbox! Establishes Permanent Land
Forbes, the century-old American business magazine, has recently announced the creation of permanent land within the Sandbox metaverse. Through a series of interactive experiences and virtual conferences, Forbes aims to engage the Web3 community. Forbes has long been a believer in the Web3 domain, adopting blockchain technology through various strategies. Let’s take a look at what they’ve done!
Forbes’ Presence in The Sandbox
Beyond showcasing their commitment to deepening involvement in Web3, Forbes aims to use this virtual space as a hub for the Web3 community. This initiative is intended to foster interaction, participation, and collaboration between Forbes and its new generation of readers.
Currently, within Forbes’ virtual space, users can explore luxurious features such as pools, bars, and a showroom celebrating the “30 Under 30” list of young leaders for 2024. Each corner and element of the virtual land has been meticulously planned to provide users with a visually perfect environment.
While navigating through the Forbes space, users will also come across numerous QR codes. According to official information, scanning these codes will unlock exclusive content, such as articles, enhancing understanding of Web3.
Forbes’ Strategies in Web3
Despite being a traditional media entity with over a century of history, Forbes maintains an open-minded approach towards the development of new technologies.
For instance, Forbes launched its website as early as 1996 and joined the realm of social media around 2005. Vadim Supitskiy, Forbes’ Digital Information Head, emphasized in interviews the company’s commitment to engaging readers through various channels, including traditional print, audiovisual media, and websites. Through blockchain technology, Forbes is also experimenting with similar initiatives within the metaverse.
Strategy One: On-chain Integration of Forbes Content
As early as 2021, Forbes auctioned NFTs featuring magazine covers. Notably, one cover featured the Winklevoss brothers, founders of the cryptocurrency exchange Gemini, which sold for $333,333.
In 2022, Forbes introduced its “Virtual Millionaires NFT” series, where each character even possesses their own net worth, allowing holders to experience the feeling of being on the Forbes list of billionaires.
By the end of 2023, Forbes successfully tokenized its “Forbes 30 Under 30” list, recording the list and individual profiles on the blockchain to ensure the achievements and stories of these outstanding individuals are permanently preserved.
Strategy Two: Introducing New Reading Experiences for the Web3 Audience
Beyond NFTs, Forbes has its dedicated editorial team responsible for producing all Web3-related content. Towards the end of 2023, Forbes also established its own Web3 community called “ForbesWeb3,” bringing together Web3 entrepreneurs, creators, and innovators from around the world for mutual exchange.
Recently, Forbes partnered with the crypto wallet Magic Wallet, enabling readers to access exclusive articles for free by linking their wallet on the website or gaining priority participation in future Web3-related projects.
Regarding their deepening vision in Web3, Supitskiy expressed, “We aim to continue constructing in this field, bringing more practicality and continually creating such environments for users.”
This translation captures the essence of Forbes’ initiatives in The Sandbox and broader Web3 strategies, emphasizing their pioneering efforts in integrating blockchain technology into traditional media operations.