The Sandbox Raises $93M Series B to Grow its Open NFT Metaverse

The Sandbox, a open NFT Metaverse platform has raise US$93M in its Series B funding round lead by the Softbank Vision Fund 2.

Other investors in this round included Animoca Brands, True Global Ventures, Liberty City Ventures, Galaxy Interactive, Kingsway Capital, Blue Pool Capital, LG Technology Ventures, Alpaca VC, Graticule Asset Management Asia, Com2uS, executives at GoldenTree Asset Management, Nokota, Sun Hung Kai & Co, Sound Ventures, Red Beard Ventures, SCB 10X, Polygon Studios, Samsung Next, Double Down Partners, StakeFish, SterlingVC, and HodlCo. Wedbush Securities acted as exclusive placement agent and financial advisor for The Sandbox, and Rubicon Law provided legal counsel to The Sandbox. 

The Sandbox also added the following luminaries to its advisory team: Guy Oseary, founder of the management firm Maverick, whose clients include Madonna, U2, and Bored Ape Yacht Club; Nicholas Adler, manager and brand curator of entertainment icon, Snoop Dogg; Thomas Vu, former Executive Producer and Head of Franchise and Creative at Riot Games; and Mathieu Nouzareth, co-founder of FreshPlanet and creator of SongPop.

The Sandbox has seen a flurry of significant growth in 2021 with over 500,00 registered wallets and 12,000 unique virtual LAND owners and generated over US$144M in lifetime Gross Merchandise Value (GMV ).

Partnerships with over 165 brands such as Snoop Dogg, The Walking Dead, The Smurfs, Care Bears, Atari, and CryptoKitties. High-profile LAND owners in The Sandbox include Zed Run, Republic Realm, Binance, Bored Ape Yacht Club, CyberKongz, CoinMarketCap, Metakovan, Pranksy, GrowYourBase, MetaKey, South China Morning Post, Zepeto, Socios, the Winklevoss twins, Bill Lee of Craft Ventures, and more.

“We are developing an entire ecosystem that opens new digital job opportunities for players and creators in our open NFT metaverse.”Arthur Madrid, CEO, and Co-Founder of The Sandbox.

Poised for Growth, Sandbox creators’ economy is expanding rapidly, creating new categories of digital jobs such as NFT creators, virtual architects, game makers, and more.

The Sandbox’s Vision is to turn players into creators and push for a player-own economy. This vision expands beyond gaming into fashion, architecture, virtual concerts, virtual shows, art galleries, museums, and more. It is developing a whole ecosystem and digital opportunities for players.

In The Sandbox, players will be able to use the play-to-earn model to monetize time spent in the metaverse. Play-to-earn creates a circular economy with supply and demand where the resources collected by one category of the players are sold and purchased by another category of player or creator, rewarding participants for their time.