The sandbox game The Sandbox has completed a new round of financing of $93 million, with the token price rising over 300% in the past week
"The new financing will help drive the growth of The Sandbox creator economy, expanding from the gaming sector to fashion, architecture, and virtual concerts."Author: Bu Er
On November 2, the sandbox game The Sandbox completed a new round of financing of $93 million, led by the SoftBank Vision Fund II. The company's Chief Operating Officer and co-founder, Sebastien Borget, stated in an interview that the new funding will help drive the growth of The Sandbox creator economy, expanding from the gaming sector into fashion, architecture, and virtual concerts.
The Sandbox is a decentralized gaming platform, with its parent company being the well-known blockchain game developer Animoca Brands. Animoca Brands is renowned for its portfolio, which includes Binance, Flow, Dapper Labs, Atari, and Polygon, and it also holds a significant amount of real-world intellectual property.
The Sandbox allows players to create gameplay or models within the game by playing, and earn assets that can circulate and be monetized in the blockchain world. The sandbox tool VoxEdit in the game is a very powerful tool that not only allows users and developers to create experiences related to specific locations but also provides assets that can be used and sold throughout the ecosystem.
In the past year, The Sandbox has seen rapid growth in monthly active users, with platform transactions exceeding $144 million. Currently, several industry celebrities, including rapper Snoop Dogg, have announced collaborations with The Sandbox, where they will create their own NFT works on the platform.
After Facebook announced its rebranding to Meta Platforms Inc, the concept of the metaverse gained significant traction. In the past week, the price of The Sandbox token SAND has also surged over 300%, with a total circulating market value reaching $2.4 billion, while another metaverse project, Decentraland, has a circulating market value twice that amount.
With the explosive growth of the NFT market this year, SoftBank has made a series of investment moves in the NFT space, with recent investments including the sports NFT startup Candy Digital and the NFT fantasy football game Sorare.
