Animoca Brands Corporation Limited and its subsidiary Bacasable Global Limited, the operators of the user-generated content platform The Sandbox, have recently announced a successful funding round of $20 million. This funding includes a valuation cap of $1 billion for the platform, solidifying Animoca’s reputation as a leader in advancing digital property rights within the open metaverse. The latest funding injection is set to accelerate The Sandbox towards its ultimate goal of creating a decentralized virtual world that combines elements of culture and gaming, enabling the community to actively participate in and benefit from the ecosystem’s development.
With the newly acquired funds, The Sandbox aims to enhance earning opportunities for creators, improve its Game Maker and VoxEdit 3D editor tools, introduce new social interactions for avatars, and implement a multiplayer rules system. These developments will not only enrich the user experience but also expand the platform’s capabilities, making it more engaging and interactive for its growing community. Additionally, a mobile version of The Sandbox is anticipated to launch in 2025, further extending its reach and accessibility to a wider audience.
Yat Siu, the co-founder and executive chairman of Animoca Brands, expressed gratitude for the continuous support, emphasizing the potential financial impact of the metaverse on the global economy. He stated, “McKinsey estimated that by 2030 the metaverse could add $5 trillion to the global economy,” underscoring the growing importance of digital property rights in virtual environments. Since its Alpha launch in November 2023, The Sandbox has achieved significant milestones, including the creation of over 1,000 user-generated experiences and the establishment of more than 5.7 million connected user accounts with crypto wallets. The platform has also formed partnerships with over 400 global brands, signaling its growing influence and appeal in the digital landscape.
The Sandbox has made considerable progress in engaging creators and expanding its market reach. Over the past year, more than 330,000 unique creators have utilized its no-code Game Maker, indicating a growing interest in user-generated content creation. Through educational initiatives, boot camps, and game jams, the platform continues to attract first-time creators, nurturing a vibrant and dynamic creative community. Moreover, The Sandbox has successfully sold and utilized over 60,000 avatar NFTs from 19 branded collections within its virtual world, showcasing the platform’s commitment to digital ownership and blockchain technology.
In the last six months, The Sandbox has achieved several significant milestones, such as enabling its 25,000+ virtual real estate owners to share their LAND experiences publicly. Furthermore, the platform launched its Marketplace on Polygon’s L2 platform, allowing creators to mint and sell digital assets seamlessly. These initiatives have led to a thriving economy within The Sandbox, where users have created over 11,000 unique digital assets and sold them more than half a million times. The platform’s ongoing growth and success underscore its position as a key player in the emerging metaverse landscape, offering users a truly immersive and interactive virtual experience.
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