The funds will help accelerate the development of the game’s open Metaverse.
NFT Metaverse platform The Sandbox has continued to rally following the announcement of a $93 million Series B funding round led by SoftBank’s Vision Fund 2.
The Sandbox Hits All-Time High
Another Metaverse-themed crypto project is soaring.
The Sandbox, a Metaverse game that shares some similarities with Minecraft, has seen its SAND token jump 34% today. The move comes as the game’s parent company, Animoca Brands, announced that the Metaverse platform had secured $93 million in a Series B funding round.
The latest price move puts the SAND token up 240% over the last week. It now sits in the top 100 cryptocurrency tokens by market capitalization after reaching a new all-time high of $3.33.
In a press release announcing the raise, Animoca Brands detailed how the funding would help accelerate the game’s open Metaverse development. The Sandbox aims to become a “prime entertainment destination” where brands and celebrities can engage with their fans through virtual experiences in the Metaverse.
While SoftBank’s Vision Fund 2 led the raise, other backers included fellow Animoca Brands subsidy StakeFish, Polygon Studios, Samsung Next, and LG Technology Ventures. Additionally, The Sandbox has added several key advisors to its team, including Thomas Vu, former executive producer and head of franchise at Riot Games, and Nicholas Adler, manager and brand curator for Snoop Dogg.
Metaverse crypto projects have led the market since Facebook announced its new mandate, which saw the company adopt a new name—Meta. CEO Mark Zuckerberg said social media would now take a back seat over building out virtual worlds and the Metaverse.
Along with The Sandbox, Decentraland’s MANA token has soared over 300% since Facebook’s announcement. Other NFT gaming projects like Axie Infinity, Enjin, and Wax have also posted notable gains in the last few days.
Disclosure: At the time of writing this feature, the author owned BTC, ETH, and several other cryptocurrencies.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Decentraland Rides Facebook’s Metaverse Wave Targeting $5.60
Decentraland’s MANA token appears to have entered a brief consolidation period as it builds momentum before its next leg up. MANA Targets Higher Highs Decentraland’s MANA token is in price…
Metaverse Tokens Are Soaring on Facebook’s Rebrand News
The Metaverse-related crypto projects Decentraland and Axie Infinity are rallying after Facebook revealed that it would be rebranding and turning its focus to virtual reality worlds yesterday. Metaverse Tokens Rise …
Facebook Changes Company Name to Meta, Plans NFT Support
Mark Zuckerberg has announced that Facebook will change its company name to Meta, though the company’s signature social media platform will retain the name Facebook. The company’s shares are set…
MDEX: Overlooked Decentralized Exchange That Pays You to Trade
Based on statistics from DeBank and dapp.com, one of the top-performing decentralized exchanges by TVL and trading volume this year is MDEX—an AMM-based DEX functioning across the Huobi Eco-chain (HECO), Binance Smart Chain…