Metaverse Platform Sandbox Looks to Raise $400M at $4B Valuation

Metaverse game The Sandbox is reportedly looking to raise $400 million in a fresh funding round that would put its valuation at $4 billion. The report from Bloomberg, citing anonymous people familiar with the matter, hinted that the team is considering raising the funds from both new and existing investors. Per the sources, the details such as the size and the valuation of the new raise are subjected to change based on market sentiment and investor demand. A new fundraising deal would follow a previous one from November last year when the company completed a $93 million round led by SoftBank Vision. Other previous investors to have participated in The Sandbox's fundraise included True Global Ventures, Square Enix, Galaxy Interactive, and Angelhub. At the time of writing, the platform's native SAND token was priced at $2.97, up by 7.9% from the past 24 hours with a market capitalization of $3 billion.