Metaverse Startup The Sandbox Closes $93M Series B Led by SoftBank
By Eliza Gkritsi
The Sandbox metaverse counts 500,000 registered wallets, the startup said.
Metaverse startup The Sandbox closed a $93 million Series B funding round led by SoftBank, said a press release.
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The Sandbox is an Ethereum-based platform where players can “play, create, own, and govern a virtual world,” according to its site.
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Players can own in-game assets in the form of non-fungible tokens (NFTs), such as plots of land that they can build on.
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The Sandbox token, SAND, has a $2.46 billion market cap, according to data from intelligence platform CoinMarketCap.
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The startup’s majority stakeholder is Hong Kong-based gaming firm Animoca Brands, an early metaverse and GameFi backer which was valued at $2.2 billion after raising $65 million in October.
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Other investors in the round include Animoca Brands, True Global Ventures, Liberty City Ventures, Galaxy Interactive, Kingsway Capital, and Blue Pool Capital.
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Singapore-based True Global Ventures contributed $10 million to the round through its blockchain-focused 4 Plus fund, according to a separate press release shared with Coindesk.
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The virtual world now has $144 million in gross merchandize value, 500,000 registered wallets, and 12,000 unique land owners, the press release said.
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The Sandbox has also set up partnerships with names like rapper Snoop Dogg, AMC TV series The Walking Dead, children’s cartoons Care Bears and The Smurfs, gaming brand Atari, and NFT collection CryptoKitties, according to the press release.
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