In a recently released report, Astra Protocol said that it plans to roll out a legal compliance layer for the Sandbox Metaverse. The compliance layer will increase the security measures to protect the Sandbox Metaverse users.
Astra Protocol and the Sandbox Metaverse
Astra Protocol has announced that it will add a new compliance and security tool to the sandbox metaverse. The tool will help introduce Astra’s technology to the Metaverse and protect all users.
According to the announcement, the safety brought by the new compliance layer will significantly benefit the Sandbox Metaverse. It will make the metaverse users feel more secure, thus enhancing their Sandbox Metaverse experience.
Per Jez Ali, the founder of Astra Protocol, the new compliance layer features Know-Your-Customer (KYC) and Anti-Money-Laundering(AML) features, these features are critical to any crypto project that wants to keep its users safe from bad players. Ali also noted that the Metaverse sector had seen an incredible growth rate, improving it.
He also added that the Sandbox innovation is “an exciting area of Web3” that his team was glad to support through the compliance layer.
A Viable Partnership
Astra Protocol is a blockchain-powered platform that integrates decentralized dispute and compliance layers to other blockchains and crypto ecosystems. It operates in 195 countries to provide its clients with KYC/AML services.
In the new joint effort with Sandbox Metaverse, users will benefit from it by connecting to Astra’s DLN through the compliance layer. They will also benefit from being protected from malicious accounts and bad players.
The Sandbox is among the most popular and fastest developing metaverse project. It is an Ethereum based project with a market capitalization of $3.6 billion. This market cap puts it in second place after Decentraland in the category of Metaverse crypto projects.
Is Metaverse The Future?
The Metaverse is a fantasy-based innovation that institutions can use to communicate and diversify the reality of their services. The innovation is virtual and currently touches more on video games, even though several other institutions have joined it. Facebook was the first company to join the Metaverse. It began by rebranding and announcing building a metaverse.
The CEO of Meta, Mark Zuckerberg, claims that the Metaverse will be a revolutionary development that will carry radical change to the current internet. According to him, this technology will help to unite people from different locations virtually while giving them a chance to witness the turns of events.
It is expected that the Metaverse will not be uniform since almost every interested institution is making its iteration. Recently, CNBC announced that Walmart, a US-based multinational retail company, was also planning to join the Metaverse via NFTs. Apple CEO Tim Cook also said that his company sees potential in the Metaverse.
Microsoft CEO also said that his company sees potential in the Metaverse and may build one. He detailed that if they succeed in building one, it will serve as the venue for most company meetings. Even though these developments are enticing, it is good to keep an eye on further developments since the Metaverse is still young. Therefore, subject to significant changes.[/vc_column_text][/vc_column][/vc_row]