Virtual universe The Sandbox raises $ 93 million

The Sandbox raises $ 93 million

As reported by The Sandbox on its Twitter account, the fundraising was carried by Softbank Vision Fund 2. It enabled the project to attract new strategic partners, including Liberty City Ventures and Galaxy Interactive. The company’s last fundraiser was about a year ago.

The Sandbox reports seeing the number of monthly active users skyrocket in recent months. In addition, the transaction volume on the platform recently hit a record high of over $ 144 million.

These new funds will allow The Sandbox to expand beyond a gaming experience. The project intends to tackle the fields of music, fashion, architecture and the arts. All of this will of course be based in part on non-fungible tokens (NFT).

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The “Metaverse”: the universes of the future?

The Sandbox had already signed prestigious partnerships in recent months, in particular with rapper Snoop Dogg, The Walking Dead franchise, the Smurfs or even the musician Deadmau5.

SĂ©bastien Borget, the founder of The Sandbox, also confirmed that the company wanted to compete with giants who are entering the sector, including Facebook. The latter has indeed recently renamed itself to “Meta”. The challenge is therefore launched according to Borget:

“We are creating this open metaverse. We position The Sandbox against these giant Tech companies that are trying to grab the metaverse for them. We offer an alternative that prioritizes users. “

The word “metaverse” is in any case on everyone’s lips at the moment. The development of virtual universes based on blockchain technologies seems to be one of the next colossal advances in the sector. We should therefore continue to hear about The Sandbox and its consorts.

👉 Find our interview with Sébastien Borget

About the author: Marine Debelloir


Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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