The Sandbox Contemplates New Funding Round, Considering New Mergers and Acquisitions

• The Sandbox is considering a new funding round this year to carry forward its plans to expand further exponentially. 

• The company is looking toward organizations developing compelling metaverse experiences for the customers, highlighted by the co-founder Sebastien Borget.

• The Sandbox is constantly growing as it has secured major partnerships earlier and has prominent names like Snoop Dogg associated with it. 

The Sandbox, the prominent metaverse firm, is considering a new funding round this year to carry out its plans to expand further exponentially. 

Sebastien Borget, the Chief Operating Officer and the co-founder of the company, has highlighted that the firm plans aggressive moves in acquisition and mergers this year. The firm has also doubled its employee count and further plans to increase it this year. 

According to Borget, the company is looking toward organizations that are developing compelling metaverse experiences for the customers. He highlighted that from what he sees; most private companies went public after they had hundreds of millions of users. 

And that they are very proud to have 2.3 to 2.4 million users presently. Further saying that, let’s talk again in a few years. However, the company does not have any plans to go public yet, as reported by a news website. 

Animoca Brands, the gaming developer giant that is the primary owner of the Sandbox, secured $93 million last November from investors led by Softbank. The gaming developer earlier secured $2.5 billion in funding for the Sandbox development in the year 2019. 

The Sandbox is one of the significant Metaverse projects. It is a play-to-earn game based on the Ethereum blockchain utilizing Decentralized Finance(DeFi) and Non-Fungible Tokens(NFTs) in a three-dimensional Metaverse. The platform has recently extended into virtual events and concerts by selling digital land artists and performers and tickets to fans. 

The Sandbox is constantly growing as a project as it is securing collaborations with various entities. Only last month, HSBC, the international banking giant, collaborated with the platform to open opportunities in financial services and esports. 

The platform has a lot of notable names associated with it. One of them is Snoop Dogg, who made his latest music video in the virtual world with his digital avatar. The Sandbox has also secured collaborations with big names from the fashion and banking industry earlier. 

Furthermore, some LANDs on The Sandbox are owned by Square Enix, Atari, Roller Coaster, Tycoon, Binance, Smurfs, Deadmau5 etc. It has also collaborated with OpenSea, Adidas, CoinMarketCap, Maker, WAX, etc. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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