Astra Protocol, an advanced legal and compliance layer providing robust assurance for public blockchains, has launched a Compliance Hub in The Sandbox virtual world, according to a press release received by CoinJournal.
The Compliance Hub delivers a decentralized compliance framework for metaverse users, including Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) capabilities.
Enhancing safety across the metaverse
With the Compliance Hub, Astra Protocol seeks to improve safety and trust across the rapidly growing metaverse. The layer addresses on-chain compliance challenges by combining the expertise of established legal partners with Astra’s proprietary technology.
Astra has assembled a Decentralized Legal Network (DLN) that includes major global audit and legal firms to provide high-quality KYC and AML services. The DLN spans jurisdictions covering nearly 200 countries, enabling compliance across a broad range of regulatory environments.
Connect to the DLN, gain accreditation, and access exclusive events
Metaverse users will be able to connect to the Compliance Hub’s DLN, complete accreditation, and receive a non-transferrable NFT. This NFT grants privileged access to special events and experiences that would otherwise be restricted.
Once verified, users can participate in metaverse events without concerns about identity compromise. Astra’s services aim to block malicious or harmful accounts and resolve identity-related issues while preserving user privacy and security.
Jez Ali, founder of Astra Protocol, commented:
We are delighted to announce Astra Protocol’s entry into the metaverse with our first plot in The Sandbox. The future of metaverse development will be a long-lasting and innovative mission that has already shown remarkable growth and represents an exciting area of Web3. By deploying the first Compliance Hub in the metaverse, we can support this growth by adding a layer of protection for users across the world.
Astra Protocol selected The Sandbox for its Compliance Hub because of the platform’s popular, immersive locations and the strong user base seeking new interactive experiences.
Demand for land in The Sandbox is fierce, with a finite supply of 166,464 individual plots available.