Home News The Sandbox raises $93M to expand its NFT metaverse

The Sandbox raises $93M to expand its NFT metaverse

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Hong Kong gaming platform The Sandbox has raised $93 million in a funding round led by SoftBank’s Vision Fund 2. True Global Ventures, Galaxy Interactive, SCB 10X, Polygon Studios, Animoca Brands and others participated in the investment.

Thus, available for iOS, Android and Windows, the application allows you to create your own universe inside the game using various elements. In addition, the funds raised will help The Sandbox add a non-fungible token (NFT) metaverse platform to the gameplay. This will allow users to monetize the elements they have created using the Ethereum (ETH) ecosystem.

The company plans to expand its open metaverse with games, live concerts, and social interactions, while “supporting more creators and involving more brands and intellectual properties,” according to the announcement.

Creating an open metaverse

The Sandbox is well-known for its collaborations with over 165 brands, including Snoop Dogg, The Walking Dead, The Smurfs, Care Bears, Atari and others. Moreover, collaboration with CryptoKitties, in order to “create voxelized versions of their worlds and characters on the platform.”

“We are creating this open metaverse. We are positioning the Sandbox against those giant tech companies who are claiming the metaverse to be theirs, offering an alternative where users are first”. Said Sebastien Borget, co-founder and COO of the project.

Since 2018, Animoca Brands acquired Pixowl, the developer behind The Sandbox.

Animoca Brands

Animoca Brands is the creator of the NFT games F1 Delta Time, The Sandbox and others. The company actively invests in the market of NFTs, including OpenSea, Dapper Labs, Bitski, Star Atlas and Axie Infinity projects.

Earlier in May Animoca Brands raised $88.9 million from the Rothschild dynasty fund RIT Capital Partners, Huobi and other investors. Later in July, the NFT project received $50 million from Coinbase Ventures; Samsung Venture Investment Corporation; and other venture capital companies.

Recall that previously in October, Animoca Brands raised $65 million. The company’s valuation reached $2.2 billion. Investors included Tron founder Justin Sun, Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings and others.

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