- The Sandbox raises $20M, reaches $1B valuation.
- The metaverse platform empowers creators to craft and monetize 3D experiences.
- Funding will enhance tools and gameplay for its 5.7M users.
The Sandbox, a metaverse project by Animoca Brands, has raised an impressive $20 million in a recent funding round, propelling the company’s valuation to a cool $1 billion.
Kingsway Capital and Animoca Brands led the charge, with LG Tech Ventures and True Global Ventures joining the party.
Crafting, trading, and making it rain in 3D
As one of Animoca Brands’ shining stars, The Sandbox empowers gamers and creators to craft 3D worlds and game experiences that’ll blow your mind.
The platform also allows users to store, trade, and monetize their projects, making it a virtual playground for the creative and entrepreneurial. Who needs reality when you can make a fortune in the metaverse?
Supercharging the creator toolkit
The fresh funding will be used to bolster the platform, create better opportunities for creators, and diversify gameplay modes.
This includes updating creator tools like Game Maker and VoxEdit 3D editor, ensuring that users have the best possible tools to bring their wildest dreams to life.
Since its launch in November 2023, The Sandbox has already showcased 1,000 user-generated experiences on its virtual map, onboarding over 5.7 million users with linked crypto wallets.
More than 60,000 avatar NFTs have been bought for use in its virtual realm, and the firm has established partnerships with over 400 global brands, including Warner Music, Ubisoft, and Gucci.
With this latest funding round, The Sandbox is ready to take the metaverse by storm and make some serious digital waves!
To read the original article: https://www.techinasia.com/metaverse-project-sandbox-reaches-1-billion-valuation
