Overview

Click to expand overview
(Bloomberg) - The Sandbox, a platform that allows users to trade and monetize virtual assets in the Ethereum blockchain, is considering raising fresh funds at a According to sources privy to the matter, Metaverse startup Sandbox is on the verge of starting a fresh round of raising capital at a valuation of $4B. The company aims Animoca Brands and its subsidiary Bacasable Global, which operates the popular metaverse platform The Sandbox, have raised $20 million of convertible promissory The world’s second-largest metaverse player, The Sandbox, is looking to raise $400 Million at a valuation of $4 Billion, as per Bloomberg. Leading investors Kingsway Capital and Animoca Brands helped the Sandbox raise $20 million at a $1 billion valuation. Following the announcement, SAND cryptocurrency SAND increased by 4.5% following the funding round announcement. The Sandbox, a leading metaverse platform, has successfully raised $20 million at a $1 billion SAND, the native token of The Sandbox has recorded a massive upsurge in the wake of the proposed funding news with investors pushing the price to its weekly high of The Sandbox will use the capital to enhance features and develop a decentralized metaverse for mobile devices. The valuation has sunk from $4 billion to $1 The Sandbox, a subsidiary of Animoca Brands, announced a $20 million funding round at a $1 billion valuation cap to expand its creator economy within the open

The Sandbox (SAND) Spikes to 1-Month High on $4 Billion Valuation Funding News

The Sandbox, a leading metaverse platform allowing users to trade and monetize virtual assets on the Ethereum blockchain, is making waves. Recent funding news, signaling a potential $4 billion valuation, has sent SAND, its native token, soaring.

Why the Surge? According to Bloomberg, The Sandbox is considering raising fresh funds, and sources indicate the metaverse startup is on the verge of a new capital raise. This news, indicating a significant valuation, has sparked investor interest. While earlier reports suggested a $400 million target, more recent developments highlight a $20 million raise.

Key Players and Funding Details: Animoca Brands and its subsidiary, Bacasable Global, which operates The Sandbox, played a key role. Leading investors like Kingsway Capital and Animoca Brands previously helped The Sandbox raise $20 million at a $1 billion valuation. This prior investment provides a foundation for future growth. The current round focuses on expanding its creator economy within the open metaverse.

SAND Price Reacts: Following the announcement, SAND cryptocurrency saw an immediate impact, increasing by as much as 4.5%. The proposed funding news has driven SAND to its weekly high, reflecting strong investor confidence.

Future Plans: The Sandbox plans to utilize the capital to enhance platform features and develop a decentralized metaverse specifically optimized for mobile devices. This strategic move aims to broaden access and engagement within the metaverse.

Important Note: While the current valuation is targeted at $4 billion, reports have also surfaced suggesting a potential shift to $1 billion. While initial speculation hovered around a $4 Billion valuation, recent reports suggest the possibility of The Sandbox valuation potentially adjusting. It's crucial to stay updated on the latest developments.

In summary, The Sandbox is experiencing significant momentum, fueled by funding news and strategic growth plans. The platform's commitment to enhancing features and expanding accessibility positions it as a key player in the evolving metaverse landscape. Keep an eye on SAND as The Sandbox continues to develop and attract investment.

Top Sources

Related Articles