It has been announced that SoftBank’s Vision Fund 2 has invested $93 million in The Sandbox, a Hong Kong-based gaming platform.
The Sandbox feature, which is accessible on iOS, Android, and Windows devices, allows players to create their own universes within the game by mixing different elements. A Hong Kong-based NFT digital property firm, Animoca Brands, bought Pixowl, the original developer and publisher of The Sandbox, in 2018. Animoca Brands has now expanded its operations to the United States.
Tokens that are not fungible may now be included in the Sandbox’s gaming experience, allowing players to monetize their in-game creations on the Ethereum blockchain. According to Animoca Brands, the Sandbox has experienced substantial growth this year, with “over 500,000 registered wallets and 12,000 unique virtual LAND owners,” according to a statement posted on Tuesday.
According to Sebastien Borget, chief operating officer and co-founder of The Sandbox, the new round of investment will allow the firm to expand the metaverse economy beyond video games in the future.
“We’re putting together an open metaverse.” In contrast to the large tech corporations claiming ownership of the metaverse, “we’re positioning the Sandbox as a viable option where people come first,” Borget explained. “
After raising around $140 million earlier this year, Animoca Brands was able to get funding a few months later.
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