Ethereum-based and metaverse startup The Sandbox has received $93 million from a Series B funding round led by Softbank, according to Animoca Brands press release.
- Sandbox expects to use the Softbank funding to scale growth, support operations, and facilitate player acquisition in its ecosystem.
- The funding round occurs after a tremendous growth of Sandbox, with $144 million in gross merchandise value having been generated year to date. The startup has over 500,000 users and has attracted more than 165 brands.
- Sandbox allows players to create, own, play, and govern a virtual world. Its token, SAND, currently has a market cap of $2.46 billion.
Animoca Brands, a GameFI and early metaverse backer, is the majority stakeholder in Sandbox, and had a market cap of $2.2 billion after October’s $65 million funding round.
SANDUSD is up +29.38%.