BrandShield (LSE: BRSD), an online threat hunting company, and The Sandbox, a leading decentralized gaming virtual world and a subsidiary of Animoca Brands, today announced the results of a strategic partnership that seeks to ensure the safety and security of crypto wallets and NFT assets bought and sold over the marketplace.
With more than 3M registered users trading with 500,000 crypto wallets, The Sandbox allows users to monetize their activity on blockchain, enabling them to create immersive 3D worlds in a prime metaverse location. However, the macro-vulnerability in NFT and crypto markets has prompted the need for more vigilance. To increase player safety and security, The Sandbox turned to BrandShield and its holistic approach to external cybersecurity, marking a significant move towards protecting metaverse players world-wide.
“In the open metaverse, users should be able to enjoy their true digital ownership rights and have new ways to create, store, and trade value while having fun rather than having to worry about online threats,” said Sebastien Borget, COO and Co-Founder of The Sandbox. “We are pushing our efforts for better prevention through education and by partnering with best-in class industry actors to maintain the most enjoyable user experience. With its ability to monitor and protect against these attacks, BrandShield is a strategic partner to help identify faster and take down phishing attacks and various online threats from brand impersonators and bad actors.”
To deal with the different methods scammers use to target players, BrandShield comprehensively mapped, analyzed, and classified the threats, first addressing eliminating attacks on digital wallets. To make sure The Sandbox users could safely trade in the metaverse, BrandShield then evaluated the threat level on various digital entities and platforms (websites, social media platforms, NFT trading sites, etc.) using its clustering technology and nullified hundreds of ongoing threats that went undetected by traditional cybersecurity tech.
Over a two-month period, from March to April of 2022, BrandShield neutralized 120 phishing sites and 58 fake social media accounts impersonating the metaverse platform, allowing The Sandbox's economy to operate securely. The takedowns reported are the first data to emerge from the partnership. The Sandbox continues to employ BrandShield's cybersecurity technology in its fight against scams, phishing attacks, and threats.
“Millions of players are looking to grow their metaverse holdings and increase the value of digital assets while gaming. However, the entire metaverse/NFT/crypto world is at risk from security issues,” said BrandShield CEO Yoav Keren. “For this nascent space to realize its full potential, it's paramount that crypto and NFT holders can trust the security of their digital wallets and assets. Our work with The Sandbox is another major step for the industry to take down cybercriminals and create an environment where everyone can safely and confidently transact without fear of being defrauded.”
BrandShield supports dozens of companies in the cryptocurrency industry and is the leading digital risk protection solution that keeps the ecosystem safe for brands and customers alike.
To learn more about BrandShield, please visit the company website at BrandShield.com.
About BrandShield
BrandShield is a leading cybersecurity company founded in Israel by cybersecurity experts to protect the world's largest brands and consumers from phishing attacks, online fraud, impersonation, counterfeits, and other online threats posed by dangerous cybercriminals. Through its AI/ML platform, BrandShield identifies, tracks, and eliminates online threats for global brands and organizations, including Bristol Myers Squibb, Levi's, New Balance, Swisscom, and the Pharmaceutical Security Institute. BrandShield is listed on the London Stock Exchange AIM under ticker symbol BRSD.
About The Sandbox
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 IPs and brands including Warner Music Group, Ubisoft, The Rabbids, Gucci Vault, The Walking Dead, Snoop Dogg, Adidas, Deadmau5, Steve Aoki, Richie Hawtin, The Smurfs, Care Bears, Atari, ZEPETO, CryptoKitties, and more. 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. For more information, please visit www.sandbox.game and follow the regular updates on Twitter, Medium, and Discord.
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, and TinyTap. Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.
— WebWireID291974 —
