Metaverse News

The Sandbox Is Aiming To Raise $400M

According to a Bloomberg report, the Animoca Brands subsidiary and metaverse experience, The Sandbox, is aiming to raise up to $400 million in funding at a $4 billion valuation.

Hypothetically, if this new round did go through at this exact funding range, it would make for around four times the size of its Series B in November. For those unfamiliar, Series B, which was led by SoftBank’s Vision Fund 2, came up to $93 million.

One thing that makes achieving this goal a little more tricky, however, is the growing gulf between market valuation and active users. It was reported on April 6th, that Axie InfinityDecentraland, and The Sandbox reported decreasing levels of user activity.

The immediate effect of this was a drop in token values over that week. However, the question does persist – will its user base play into considerations for this new funding round?

(All information was provided by BlockchainGamerBiz)

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