Metaverse Startup The Sandbox Closes $93M Series B Led by SoftBank


Metaverse startup The Sandbox closed a $93 million Series B funding spherical led by SoftBank, mentioned a press release.

  • The Sandbox is an Ethereum-based platform the place gamers can “play, create, own, and govern a virtual world,” in keeping with its site.
  • Players can personal in-game belongings within the type of non-fungible tokens (NFTs), resembling plots of land that they’ll construct on.
  • The Sandbox token, SAND, has a $2.46 billion market cap, in keeping with information from intelligence platform CoinMarketCap.
  • The startup’s majority stakeholder is Hong Kong-based gaming agency Animoca Brands, an early metaverse and GameFi backer which was valued at $2.2 billion after elevating $65 million in October.
  • Other buyers within the spherical embrace Animoca Brands, True Global Ventures, Liberty City Ventures, Galaxy Interactive, Kingsway Capital, and Blue Pool Capital.
  • The digital world now has $144 million in gross merchandize worth, 500,000 registered wallets, and 12,000 distinctive land house owners, the press launch mentioned.
  • The Sandbox has additionally arrange partnerships with names like rapper Snoop Dogg, AMC TV sequence The Walking Dead, youngsters’s cartoons Care Bears and The Smurfs, gaming model Atari, and NFT assortment CryptoKitties, in keeping with the press launch.

Read extra: Metaverse Backer Animoca Brands Raises $65M at $2.2B Valuation