Creating a virtual gaming platform using non-fungible token (NFT) technology, The Sandbox has raised $93 million from a group of investors led by SoftBank.
Investors in Hong Kong-based The Sandbox included SoftBank Vision Fund 2, as well as Animoca Brands, Liberty City Ventures, LG Technology Ventures, Galaxy Interactive and a few other names.
It was announced on Tuesday that this investment will be used to scale the growth strategy and operations of The Sandbox ecosystem.
The Sandbox, which establishes a metaverse where the standard currency is SAND; It allows users to monetize their gaming experiences over the Ethereum blockchain.
The Sandbox, whose largest shareholder is Animoca Brands, currently has 12,000 individual landowners and 500,000 registered wallets. According to the information on its site, The Sandbox ecosystem is expected to reach 100 million users over time.
While it is not known how much value The Sandbox reached after the investment, SAND has a market value of $ 2.4 billion according to CoinGecko data.