The Sandbox Plans To Raise $400M At $4B ValuationMolly Jennings
The Sandbox metaverse project is preparing to close a $400 million funding round. According to its results, the platform’s valuation may exceed $4 billion, reports Bloomberg citing own sources.
Parent company Animoca Brands is in talks with potential investors, they said. In their course, both the amount of the round and the valuation may change, depending on the mood in the market.
In November 2021 the project raised $93 million. Series B funding round led by SoftBank’s Vision Fund 2. For the fund, the deal was the first investment in the crypto industry and was aimed at accelerating the development of The Sandbox metaverse.
The project team announced alpha version launch virtual world at the end of the month.
In 2022, lots in The Sandbox metaverse were purchased by Italian fashion house Gucci and the largest British bank HSBC. Warner Music Group Corporation entered into a partnership with a project to organize a theme music park.
In April, the manufacturer of hardware crypto wallets Ledger launched an educational initiative for users of The Sandbox world.
Recall that analysts of the largest international bank Citibank predicted growth of the metaverse economy to $13 trillion by 2030.