November 2, 2021

The Sandbox has raised $93m in investment

The Sandbox has raised $93m in investment

Hong Kong gaming platform The Sandbox has raised $93m in a funding round led by SoftBank's Vision Fund 2.

Available for iOS, Android and Windows, the app allows users to create their own universe within a game using various elements.

The funds raised will help The Sandbox add non-exchangeable tokens to the gameplay. This will allow users to monetise the elements they create using the Ethereum ecosystem.

We are creating an open meta-universe. We are positioning The Sandbox as a counter to the technogiants who claim that the meta-universe belongs to them. We offer an alternative where users come first, said project co-founder Sebastian Borgett.

Animoca Brands acquired the developer behind The Sandbox, Pixowl, in 2018.

The firm is the creator of NFT games F1 Delta Time, The Sandbox and others. The company is actively investing in the non-interchangeable token market, including OpenSea, Dapper Labs, Bitski, Star Atlas and Axie Infinity projects.

As a reminder, Animoca Brands raised $88.9m in May from Rothschild Dynasty fund RIT Capital Partners, Huobi and other investors. Already in July, the NFT project received $50 million from Coinbase Ventures, Samsung Venture Investment Corporation, Blue Pool Capital and other venture capital firms.

In October, Animoca Brands raised $65 million and valued the company at $2.2 billion.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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