Metaverse News

Metaverse Gaming Experience The Sandbox Raises $93M

The Sandbox recently announced it raised $93 million in funding. During a discussion with Reuters, the company refused to disclose the organization’s exact value. However, the cryptocurrency the organization backs (the Sandbox Coin) currently has a market cap of almost $2 billion.

This round of investing was led by SoftBank’s Vision Fund 2. This marks Vision Fund 2’s first investment in a company that issues its own cryptocurrency.

“We are creating this open metaverse. We are positioning the Sandbox against those giant tech companies who are claiming the metaverse to be theirs, offering an alternative where users are first,” said Sebastien Borget, the organization’s co-founder.

The Sandbox is a digital metaverse where individuals can play, build, own, and make money off of their own virtual experiences. The organization was acquired by Animoca Brands in 2018.

(All information was provided by Google and KFGO-FM)

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