British Museum eyes digital gaming income boost

The British Museum has joined forces with a metaverse-based gaming platform to develop a range of digital collectibles based on its collections that can be sold online for profit.

The Sandbox, a virtual gaming world that allows players to buy, sell, and create digital assets – known as non-fungible tokens (NFTs), said the partnership will allow for new immersive experiences, allowing people anywhere in the world to discover British Museum objects.

A spokesman for the British Museum confirmed to Arts Professional that the institution will generate income from sales.

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The most expensive item to sell in The Sandbox, which utilises the cryptocurrency Etherum as a currency, was a 'mega yacht' which went for $650,000 in 2021, although most NFTs on the marketplace are currently listed at prices of up to a few hundred dollars.

A British Museum spokesperson said: “The role of the British Museum [in the partnership] is to offer suggestions for [intellectual property] use and then review and approve what is created by The Sandbox.

"The Sandbox will use British Museum IP to create gaming experiences and digital collectibles that can then be purchased by users for use in gameplay.

"As per any licensing partnership, the revenue from the partnership will be in the form of Royalties income to the museum.

"Fundamentally, licensing has at its heart the aim of reaching new audiences in innovative ways. The Sandbox offers new ways to reach the museum’s collection out to a new, global and online audience.”

News of the deal comes just weeks after it was confirmed that the museum has ended its controversial sponsorship deal with oil and gas company BP after 27 years.

According to The Sandbox website creators of NFTs receive 95% of the selling price value.

'Great opportunity'

Sebastien Borget, Chief Operating Officer and Co-Founder of The Sandbox, said: “We are very excited to collaborate with the British Museum to share its incredible collections to new audiences in the metaverse.

“This is a great opportunity for The Sandbox players, regardless of where they are, to learn about the amazing wealth of human history, art, and culture that the British Museum has to offer.”

The British Museum said: “As a museum of the world, for the world, the British Museum is excited to explore with The Sandbox new and innovative ways of sharing its collection and reaching new audiences.”