21 Jul 2022 07:00
21 July 2022
BrandShield Systems plc
("BrandShield," the "Company," or the "Group")
Partnership with The Sandbox
BrandShield joins forces with Web3 gaming metaverse The Sandbox to protect players from digital asset fraud
BrandShield Systems (AIM: BRSD), a leading provider of cybersecurity solutions for brand oriented digital risk protection, is pleased to announce the results of a strategic partnership with The Sandbox, a leading decentralised gaming virtual world and a subsidiary of Animoca Brands, which was formed to ensure the safety and security of crypto wallets and NFT assets bought and sold over the marketplace.
Over a two-month period, from March to April of 2022, BrandShield successfully neutralised 120 phishing sites and 58 fake social media accounts impersonating the metaverse platform, allowing The Sandbox's economy to operate securely whilst safeguarding metaverse players from critical online threats.
With more than three million registered users trading with 500,000 crypto wallets, The Sandbox allows users to monetise 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 worldwide.
To deal with the different methods scammers use to target players, BrandShield comprehensively mapped, analysed, and classified the threats, first addressing eliminating attacks on digital wallets. BrandShield then evaluated the threat level on various digital entities and platforms, including websites, social media platforms, and NFT trading sites, to ensure The Sandbox users could safely trade in the metaverse, leveraging its clustering technology to nullify hundreds of ongoing threats that went undetected by traditional cybersecurity tech.
The takedowns reported are the first data to emerge from the partnership. The Sandbox continues to employ BrandShield's cybersecurity technology as a client in its fight against scams, phishing attacks, and other online threats.
Yoav Keren, Chief Executive Officer of BrandShield, commented:
"Millions of players are looking to grow their metaverse holdings and increase the value of digital assets whilst gaming. However, the entire metaverse/NFT/crypto world is at risk from security issues.
For this nascent space to realise 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."
Sebastien Borget, Chief Operating Officer and Co-Founder of The Sandbox, added:
"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 whilst having fun, rather than having to worry about online threats.
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."
Enquiries:
BrandShield Systems plc Yoav Keren, CEO
| +44 (0)20 3143 8300 |
Spark Advisory Partners Limited (Nominated Adviser) Neil Baldwin / Andrew Emmott / James Keeshan
| +44 (0)20 3368 3554 |
Shore Capital (Joint Broker) Toby Gibbs / James Thomas (Corporate Advisory) Henry Willcocks (Corporate Broking)
| +44 (0)20 7408 4090 |
Tennyson Securities (Joint Broker) Peter Krens
| +44 (0)20 3368 3554 |
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Kendall Hill brandshield@vigoconsulting.com | +44 (0)20 7390 0237 |
About BrandShield
Brandshield is a provider of cybersecurity solutions from brand protection to online threat hunting. BrandShield detects online threats and takes them down. The Company's client base is a growing list of organisations including Fortune 500 and FTSE100 companies. By utilising AI and big-data analysis, BrandShield monitors, detects, and removes online threats facing companies. These threats include social phishing, executive impersonation, fraud, brand abuse, and counterfeits.
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.
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For more information, visit www.brandshield.com.