Nomura, in collaboration with its digital assets subsidiary, Laser Digital, has launched its metaverse presence in The Sandbox, offering users a unique Japanese botanical garden experience while embracing sustainability.
In this immersive digital realm, users can interact with avatars representing senior management and engage in a variety of tasks, with the opportunity to nurture a bonsai tree among them.
Laser Digital, operating as Nomura’s digital asset subsidiary since its inception last year, has expressed its eagerness to explore the metaverse’s potential. Jez Mohideen, CEO of Laser Digital, stated, “We are excited to experience the new interactions this project enables and look forward to a continued partnership with the Digital Company to further Nomura’s progress in the digital asset sector.”
Laser Digital initially concentrated on venture investments within the digital asset space but recently expanded its scope with the introduction of the Bitcoin Adoption Fund, catering to institutional investors. The company is also preparing to launch a digital asset trading arm, enhancing its presence in the digital asset landscape.
The Sandbox, a blockchain-based metaverse with voxel graphics, has been gaining momentum, positioning itself as a leading contender in this space. It competes with Decentraland but boasts higher production values. The Nomura – Laser Digital metaverse experience was developed by Cédric Bensoussan at the Metaverse Studio Paris.
Notably, numerous financial institutions are venturing into the metaverse, albeit often with relatively basic initial implementations. As people progressively spend more of their non-gaming time within 3D worlds, the metaverse is expected to become a hub for investment and banking activities. It’s foreseeable that individuals will meet with investment advisors and conduct banking operations within the metaverse. Some virtual assets within the metaverse, such as land in The Sandbox, are already considered investments in their own right.
While NFTs and the metaverse have experienced a decline in hype in Western markets, Asia continues to witness robust activity. Japan, in particular, sees dozens of NFT launches each week, highlighting the ongoing interest in these technologies.
The Sandbox has particularly resonated with Asian-focused financial institutions like DBS, HSBC, SCB 10X, and Standard Chartered, while Decentraland has found favor with Western players such as JP Morgan, Caixabank, Fidelity, and Mastercard. In parallel, Japanese banks and enterprises have created the Japan Metaverse Economic Zone (JMEZ), although Nomura remains uninvolved in this specific initiative.
The collaboration between Nomura and Laser Digital to create a Japanese botanical garden experience within The Sandbox underscores the growing significance of the metaverse in the financial industry and hints at a future where virtual interactions will play a pivotal role in the realm of finance.
