Virtual universes and the “metaverse” are part of the current trends in blockchain. Proof of this craze is the latest fundraising of The Sandbox, which was a success. The game managed to raise $93 million for its development.
The Sandbox raises $93 million
As The Sandbox reports on its Twitter account, the fundraiser was led by Softbank Vision Fund 2. It allowed the project to bring in new strategic partners, including Liberty City Ventures and Galaxy Interactive. The company last raised funds about a year ago.
The Sandbox reports that it has seen the number of monthly active users skyrocket in recent months. In addition, transaction volume on the platform recently hit a record high at over $144 million.
The new funding will allow The Sandbox to expand beyond a gaming experience. The project plans to tackle music, fashion, architecture and art. All of this will of course rely in part on non-fungible tokens (NFT).
The “Metaverse”: the universes of the future?
The Sandbox had already signed prestigious partnerships in recent months, including with rapper Snoop Dogg, The Walking Dead franchise, the Smurfs or musician Deadmau5.
Sébastien Borget, the founder of The Sandbox, also confirmed that the company wants to compete with giants who are launching themselves in the sector, including Facebook. The latter recently rebranded itself as “Meta”. So the challenge is on, according to Borget:
“We are creating this open metaverse. We are positioning The Sandbox against these giant tech companies that are trying to take over the metaverse for themselves. We’re offering an alternative that puts the users first.”
The word “metavers” is certainly on everyone’s lips at the moment. The development of virtual universes based on blockchain technologies seems to be one of the next huge advances in the sector. We should therefore continue to hear about The Sandbox and its consorts.