The Sandbox Secures $20M Funding with $1B Valuation Cap

ChainPlay

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one month ago

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The Sandbox, under Animoca Games, just hit a big milestone: They snagged $20 million in funding through convertible promissory notes. This move pushed their valuation cap to a whopping $1 billion, a major win for the company.

Since their public alpha launch in November 2023, The Sandbox has been letting users share their content with others. They've had over 1,000 user-created experiences and attracted millions of users. Regular rewards like SAND tokens and NFTs keep everyone involved and excited.

Continued Alpha Development and Future Plans

Despite its successes, The Sandbox remains in its alpha stage. This new funding will support the platform's growth and development. The team is dedicated to enhancing user-created content. They aim to support new creators with educational initiatives, bootcamps, and game jams.The Sandbox hosts regular events, rewarding players with SAND tokens for achieving goals or exploring new user-created experiences. Players can own Land plots, create, and sell in-game assets like clothing, weapons, and game props. Over 11,000 unique game assets have been created by users so far.

The Sandbox has partnered with over 400 global brands, offering unique games, content, and special avatars. Notable partners include Snoop Dogg, Gucci, Warner Music, and Ubisoft. While some rewards require specific avatars, the platform is free to play and accessible to everyone. Creator tools like Game Maker and VoxEdit are available to all users.

Future Developments and Accessibility

The Sandbox plans to transition to a beta phase later in 2024 and launch a mobile version of their app in 2025. These steps are part of their strategy to expand accessibility and enhance user experience.