The Sandbox Raises $200 Million, LG Tech Ventures Participates
CryptoNewsTerminal Staff06 Jun, 2024
The Sandbox Raises $200 Million, LG Tech Ventures Participates
Animoca Brands, a leading developer of NFTs and blockchain games, announced that Vacasable, the developer of the blockchain-based metaverse platform The Sandbox (SAND), raised about $200 million, valuing the company at $1 billion. LG Tech Ventures, the strategic investment arm of LG Corporation, participated in the funding round. The Sandbox is a virtual world where players can create and experience games, worlds, and assets. It is built on the Ethereum blockchain and uses SAND as its native token. The platform has been gaining popularity, with over 2 million registered users and over 500,000 monthly active users. The funding will be used to expand The Sandbox's team, develop new features, and acquire new users. Animoca Brands aims to become the leading Web3 gaming company by providing users with immersive and engaging experiences. This funding round is a significant milestone for The Sandbox and is a testament to the growing interest in the metaverse and blockchain gaming.
