In Brief:
- The Sandbox has raised $93M in a round led by Softbank Vision Fund 2.
- SandBox coin has a market cap of over $2 billions.
- The Sandbox also partnered with celebrities like rapper Snoop Dogg.
Hong Kong (H.K.) based gaming platform The SandBox has raised $93 mln from investors led by Softbank’s Vision Fund 2.
According to the announcement, the last fundraising comes a year after its last round. The funds were raised with the participation of Animoca Brands, True Global Ventures, Galaxy interactive, and redrse.”
The firm declined to disclose its valuation, but the crypto currency it supports, the SandBox Coin. The Sandbox coin has a market cap of nearly $2 billion and the company said it currently holds 22% of the tokens.
The price of the coin has soared over 200% after FB announced its latest news. Last week, the famous social media platform, Facebook CEO, announced that they are changing the corporate’s name to Meta. The Facebook connect event was highly focused on the metaverse, and the CEO shared the company vision on the development of the metaverse and virtual world.
These new funds will fuel the growth of the Sandbox creators’ economy. The Sandbox aims to speed up growth for the NFT market.
Last month, the parent company of sandbox, Animoca brand, closed a capital raise for $65M at a $2.2B valuation. The new capital is used to fund strategic investment, acquisitions, product development and licenses for popular intellectual properties.
