The Sandbox Raises $20 Million to Achieve Decentralized Virtual World

The Sandbox Raises $20 Million to Achieve Decentralized Virtual World

Animoca Brands Corporation Limited and its subsidiary Bacasable Global Limited have recently announced a significant milestone for The Sandbox, a user-generated content platform. The platform has successfully raised $20 million in funding, with a valuation cap of $1 billion. This funding marks a crucial step towards achieving a decentralized virtual world that combines culture and gaming, revolutionizing the concept of digital property rights within the open metaverse.

The newly acquired funding will propel The Sandbox towards its goal of empowering creators and expanding opportunities within its ecosystem. By enhancing earning opportunities for creators, updating Game Maker and VoxEdit 3D editor tools, introducing new social interactions for avatars, and launching a multiplayer rules system, the platform aims to create a vibrant community where users can actively contribute and reap rewards from its development.

In addition to these developments, The Sandbox is also gearing up for the launch of a mobile version set for debut in 2025. This expansion into the mobile space will further broaden the platform’s reach and accessibility, attracting a wider audience of users interested in exploring the virtual world and engaging with its dynamic content.

Since its Alpha launch in November 2023, The Sandbox has achieved significant growth and reached several milestones. With over 1,000 user-generated experiences and more than 5.7 million connected user accounts with crypto wallets, the platform has garnered considerable attention within the metaverse community. Additionally, partnerships with over 400 global brands, including Lionsgate, Hellboy, and Warner Music, have further solidified The Sandbox’s position as a key player in the space.

One of the platform’s key achievements lies in its engagement with creators and expansion of its market. Over 330,000 unique creators have downloaded the platform’s no-code Game Maker, indicating a strong interest in user-generated content creation. Through educational initiatives, boot camps, and game jams, The Sandbox continues to attract first-time creators and provide them with the tools and resources needed to thrive in the digital landscape.

The Sandbox has also made significant strides in building a thriving economy within its virtual world. With over 60,000 avatar NFTs sold and utilized from 19 branded collections, including popular brands like Hellboy and Rabbids, the platform has showcased the potential for digital asset ownership and trading. Furthermore, the launch of its Marketplace on Polygon’s L2 platform has allowed creators to mint and sell digital assets, resulting in over 11,000 unique digital assets produced and sold over half a million times.

The Sandbox’s recent funding success and strategic developments underscore its commitment to shaping the future of the metaverse. By empowering creators, expanding opportunities, and fostering a dynamic community, the platform is poised for continued growth and innovation in the years to come.

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