The Sandbox, a division of Animoca Brands, has announced an investment of $20 million, reaching a maximum valuation of $1 billion, with the goal of further developing the creator economy within an open metaverse.
This division of Animoca Brands is creating a decentralized virtual world where culture merges with the playful element, with more than 1,000 user-generated experiences and a community of over 5.7 million members.
Let’s see all the details below.
Summary
Animoca Brands, operatore di The Sandbox, invests in the future of the metaverse
Animoca Brands, un’azienda impegnata nella promozione dei diritti di proprietà digitale nel metaverso aperto operatrice di The Sandbox, una piattaforma di metaverso, ha annunciato oggi la raccolta di $20 million tramite cambiali convertibili, con un tetto di valutazione di $1 billion.
This strategic funding was led by Kingsway Capital and Animoca Brands, with the participation of LG Tech Ventures and True Global Ventures.
I possessori delle note hanno la possibilità di convertirle in azioni di Bacasable Global Limited alle stesse condizioni delle azioni privilegiate esistenti.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented as follows:
“We are extremely honored by the continued support for The Sandbox’s vision and excited about the future of UGC games.”
McKinsey has predicted that by 2030 the metaverse could contribute 5 trillion dollars to the global economy. Today, games like Minecraft and Roblox are among the most popular, but they do not offer their users digital property rights.
Sandbox represents the evolution of UGC games in the era of digital ownership.
The financing will be used to continue developing The Sandbox’s vision of a decentralized virtual world, where culture merges with gaming and the community can actively participate in growth and benefit from it.
In line with this vision, The Sandbox will continue to improve earning opportunities for creators on its platform.
This through the update of the Game Maker and VoxEdit 3D editor tools, the introduction of new social interactions and skills for the avatars.
Furthermore, also through the expansion of gaming possibilities via a new multiplayer rules system, expected in Beta by the end of this year and to the public in 2025.
Guide to the metaverse with the power of fandom and global partnerships
The Sandbox is also developing a version of its decentralized metaverse for mobile devices, scheduled for 2025.
Recently, The Sandbox has reached the milestone of 1,000 user-generated experiences, published on its virtual map, with over 5.7 million user accounts linked to the criptovalute wallet.
The Sandbox has consolidated its position as one of the leading flagship applications in Web3, attracting new users thanks to the support of fans and pushing the audience to explore the metaverse.
With over 400 global partnerships, including Lionsgate, Hellboy, Magnificent Century, Habbo and many others, the platform is currently working on over a hundred experiences with global brands, scheduled for 2024.
In the last 12 months, more than 330,000 unique creators have adopted The Sandbox’s no-code Game Maker. The platform is now ramping up its efforts to engage emerging creators through educational initiatives, bootcamps, and game jams.
So far, over 60,000 NFT avatars have been sold and used to play in the virtual world of The Sandbox, including NFT from 19 official collections such as Hellboy, Magnificent Century, Rabbids, and others.
Arthur Madrid, CEO e co-fondatore di The Sandbox, ha sottolineato:
“The open metaverse offers everyone the possibility to express themselves and discover new cultures. Our mission is to promote equity and opportunities for creators in all aspects of culture in the metaverse.”
Sebastien Borget, COO and co-founder of The Sandbox, added:
“We enthusiastically welcome new partners who share our vision of an accessible and inclusive metaverse for a global audience, where brands and communities collaborate to shape the future of gaming and entertainment.”
Anshul Agarwa, CEO di LG Technology Ventures, commented:
“We support the visionaries who are driving the adoption of Web3 and innovation in consumer entertainment. Sandbox’s distinctive approach could transform the global creator economy.”
Exponential growth and global expansion
In the last six months, The Sandbox has achieved several significant milestones. Among these, there is the success in enabling over 25,000 owners of virtual lands to publish their LAND experiences for the public.
Furthermore, the Marketplace on L2 of Polygon has been inaugurated, offering creators the opportunity to create and sell their digital goods. This has led to the creation of a thriving economy, with more than 11,000 unique digital goods minted and sold over half a million times.
Currently, the ecosystem of The Sandbox includes over 250 Trusted Partner, individuals and agencies trained and certified to assist brands and intellectual property holders in creating metaverse experiences for their fans.
The number of Trusted Partner is expected to continue to grow, as The Sandbox will explore new markets in Vietnam, Saudi Arabia, Africa and beyond.
