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Metaverse Expansion
The Sandbox is considering a new round of funding, with the platform targeting a $400M funding round from both new and existing investors that would push the value of the company to over $4B.
The exciting development was initially revealed in a piece published in Bloomberg Quint by Benoit Berthelot, Manuel Baigorri and Ivan Levingstonon on April 19. Sandbox, which is primarily owned by popular blockchain gaming developer Animoca Brands Corp, is still fresh off a recent funding round in November where they raised $93M. In that funding round Sandbox identified a plan to accelerate the development of its open metaverse through creator support mechanisms. In addition to Animoca Brands, the investor round led by SoftBank Vision Fund 2 included other big names such as True Global Ventures, Livery City Ventures and Galaxy Interactive, among others. It is possible the same group plus more would be targeted here.
Sandbox of course has first mover advantage in the metaverse space over the next biggest competitor Decentraland. Sandbox has seen some massive names in fashion and music acquire plots of land. Adidas AG, Warner Music Group are a few to name and infamous hip hop legend Snoop Dogg even released his first music video dubbed “House I built” in the metaverse, which can be viewed below. Sandbox also tweeted out a new partnership with rock metal band Slipknot to build out a meeting place for heavy music culture dubbed the “knotverse”.
What is The Sandbox?
The Sandbox describes itself as a virtual world where players can build, own and monetize their gaming experiences and assets inside an immense virtual world.
The Sandbox offers a suite of tools tailor-made to empower players to come together and create engaging experiences across their ‘metaverse’.
They are focused on offering users what can best be described as a canvas, which an array of different tools for creation are then afforded. Ultimately the user then has the chance to monetize their own worlds.
Where to find The Sandbox:
Website | Discord | Telegram | Twitter |