The Sandbox has raised $93 million through a Series B investment round led by SoftBank Vision Fund 2, which will help the project to stimulate growth. They will use the funding to grow their development team, support content creators and involve more brands and IPs. The Sandbox already partnered with mainstream brands like The Walking Dead, The Smurfs, Care Bears, Atari and Deadau5.
The $93 million investment into The Sandbox doesn’t only come from SoftBank. In addition investment funds like Galaxy Interactive, LG Technology Ventures, Polygon Studios, and Samsung Next were part of the Series B investment round.
“This investment round led by Softbank Vision Fund 2 will help scale up our growth strategy, operations, and player acquisition in The Sandbox ecosystem while sending a clear statement that the world’s most innovative fund believes in Web3 and decentralization as the next major trend,” said Sebastien Borget, COO and Co-Founder of The Sandbox.
The Sandbox has seen lots of growth in 2021 so far. The virtual world already has 500.000 registered wallets and more than 12.000 unique land owners. In the wake of the Facebook Meta announcement, value of the native SAND token has increased more than 140%.
Ultimately The Sandbox wants to turn every player into a creator, allowing them to participate in a player-owned economy that expands into architecture, fashion, virtual events, art galleries, and gaming itself. They want their virtual world to be part of the wider metaverse; open, social and full of NFTs. Users own their data, participate in an economy, and can change identities as they please.
In The Sandbox, players will be able to use the play-to-earn model to monetize time spent in the metaverse. Play-to-earn creates a circular economy with supply and demand where the resources collected by one category of the players are sold and purchased by another category of player or creator, rewarding participants for their time.
What is The Sandbox?
The Sandbox is one of the blockchain-powered virtual worlds currently in development. The virtual world of The Sandbox consists out of lands, and voxels fill up each of those lands. Visually it will remind many gamers of Minecraft, as both games have this Lego-inspired look to them. However, players are able to buy virtual land and implement any form of monetization. These virtual lands can become mini-games, adventures, virtual shops, extensions of actual webshops, a space for social gatherings, and so on.
To learn more about The Sandbox, read our complete Sandbox Review and guide here.
The Sandbox is providing free tools for developers, gamers and content creators. Creators can use VoxEdit to make objects. In addition the Game Maker allows users to create interactivity on their virtual land. The Sandbox will also create a meta gaming experience. Players can for example do daily quests or weekly quests for their guild. This will earn players SAND, which they can sell or use to buy in-game items or virtual land.