The Sandbox Is Eyeing Plans To Raise $400 Million USD for a $4 Billion USD Valuation
In line with the co-founder’s more “aggressive” approach this year.
Arguably one of crypto’s leading metaverse games, The Sandbox, is reportedly looking to raise $400 million USD in its next funding round to reach a $4 billion USD valuation. The company is currently already in talks with new and existing investors to take the game to a nw level.
A recent Bloomberg report has cited the Ethereum-based NFT is hoping to expand the company, in line with the co-founder and chief of operations Sebastian Borget’s plan to make more aggressive moves on hiring and acquisitions this year. Six months after its release, the game netted $93 million USD in a Softbank-led funding round.
The Sandbox is essentially an open-world game within the metaverse that allows users to interact with one another digitally to buy and sell virtual assets in the form of NFTs. After Facebook was rebranded to Meta, the game surged in popularity, paving the way for other blockchain-based projects including Axie Infinity and Decentraland. The Sandbox’s SAND token saw a rise in price after Facebook’s announcement, especially after Meta decided to shift towards building its own Metaverse. The platform continues to draw attention with its most recent announcement with multinational bank HSBC, which announced it bought a virtual plot of land in The Sandbox to connect and engage with its audience.
In other crypto news, Wikipedia editors are considering blocking crypto donations.
