According to a press release, Metaverse startup The Sandbox has closed its $93 million Series B funding round led by SoftBank. It is worth noting that The Sandbox is the network behind the metaverse coin project called SAND.
$93 million investment in Metaverse coin project
Sandbox’s Series B round, SoftBank Vision Fund 2’s first investment in crypto assets, raised $93 million with participation from Animoca Brands, True Global Ventures, Galaxy Interactive, SCB 10X, Polygon Studios and Samsung Next, among others. The venture’s majority shareholder is Hong Kong-based gaming firm Animoca Brands, a former metaverse and GameFi backer that rose to $2.2 billion after raising $65 million in October.
The Sandbox is an Ethereum-based platform where players can “play, create, own and manage a virtual world”. Players can own in-game assets in the form of non-fungiable tokens (NFTs), such as lands they can build on. Sandbox token SAND has a market cap of $2.46 billion, according to data from data platform CoinMarketCap. SAND is up 34.1 percent in the last 24 hours. In the last 7 days, it experienced an increase of 239.9. Coin’s one-year return stands at 7,676.4 percent. Today cryptocoin.com He was also in the first place in the list of the highest risers we prepared.
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