Hex Trust, an institutional-grade digital asset custodian licensed across global financial hubs, has partnered with The Sandbox, a decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse.
Hex Trust has fully “integrated LAND into its digital asset custody platform, Hex Safe, which provides the industry’s widest range of digital asset support, including cryptocurrencies, security tokens, and NFTs.”
The Sandbox has added Hex Trust as “a certified partner and to its directory list for custody services.”
The integration “enables institutional investors, brands, and corporations to store LAND assets with Hex Trust, instead of having to store these valuable virtual land assets in online hot wallets exposed to security and hacking risks.”
Besides providing custody services for LAND, Hex Trust provides the service “to buy and sell LAND, as well as innovative financing solutions, including leasing LAND assets and virtual mortgages.”
Hex Trust entered The Sandbox’s metaverse “in 2022 and purchased an Estate in the ‘Web3 Zone’.”
Alessio Quaglini, CEO & Co-founder of Hex Trust, said:
“Hex Trust and The Sandbox have been working closely together over the last few months following the launch of our NFT custody services back in early 2020. It’s great to solidify our relationship with a certified partnership, continuing to provide the best-in-class custody services for assets in the metaverse to meet increasing institutional demand. As Web3 continues to grow, more brands and investors will need highly-secure solutions provided by custodians to store their assets with peace of mind in a fully-compliant manner.”
Sebastien Borget, COO and Co-Founder of The Sandbox, said:
“We are always on the lookout to provide new ways to secure our community’s digital assets and bring peace of mind to The Sandbox’s community. After working with Hex Trust for the past few months, we are very excited to formally establish a partnership to further integrate their services into the metaverse.”
As noted in the update, The Sandbox, “a subsidiary of Animoca Brands, is one of the decentralized virtual worlds that has been fueling the recent growth of virtual real estate demand, having partnered with major brands including Warner Music Group, Ubisoft, The Rabbids, Cut the Rope, Tony Hawk, Gucci Vault, The Walking Dead, Invincible, Snoop Dogg, Adidas, Deadmau5, Steve Aoki, SM Entertainment, The Smurfs, Care Bears, and Atari.”
Building on existing The Sandbox IP that “has more than 40 million global installs on mobile, The Sandbox metaverse offers players and creators a decentralized and intuitive platform to create immersive 3D worlds and game experiences and to safely store, trade, and monetize their creations.”