Metaverse users can access Astra’s Decentralized Legal Network via the Compliance Hub
Top-rated decentralised legal and compliance services provider Astra Protocol announced the launch of a compliance hub in the Ethereum-based virtual metaverse, The Sandbox, earlier today.
The hub is aimed at equipping metaverse users with a decentralised compliance layer including Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) capabilities. Astra will be utilising its patented technology along with the expertise of legal firms to improve the safety of the virtual meta world for all participants via the hub.
Astra’s unique Decentralized Legal Network (DLN) is armed with prominent global audit and legal firms which covers jurisdictions in 195 countries to ensure that users can be assured of receiving the best compliance service available for their operations anywhere across the world.
Users can directly connect to the DLN via Astra’s Compliance Hub and use its services to gain accreditation and receive a non-transferrable NFT. After the user is verified, this NFT can be used to gain privileged access to special events in the metaverse without compromising their identity.
Jez Ali, the founder of Astra Protocol stated that the company was excited to mark its entry into the metaverse:
“We are delighted to announce the 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 incredible growth and is 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.”
The press release further stated that Sandbox was particularly chosen for its ability to attract users through its innovative immersive experiences and methods for interaction. The virtual world where users can build, own, and monetize online hangout spaces has only 166,464 individual plots with numerous desirable and exciting locations, the statement added.