Key Takeaways:
- The bigger shareholder of The Sandbox is in talks with investors to raise $400 million.
- The company is yet to share more details regarding this round of funding.
On Tuesday, Bloomberg reported that the gaming company, The Sandbox which is built on Blockchain may be in the process of raising $400 million from new and present investors. Reports say that the company has been valued at $4 billion in this round of funding.
Earlier, in November, Sandbox raised $93 million in a Series B round that was led by Vision Fund 2 of SoftBank. The funding was organized as the gaming company was gearing up to create a position in the world of metaverse with giant tech companies as their rival.
Discussions related to the size and valuation of the company are still ongoing. There are chances of the numbers changing as they are subject to market changes. Animoca Brands Corp, the biggest shareholder of The Sandbox, is still in talks with investors.
The gaming company is built on the Ethereum blockchain and facilitates users to buy, sell, trade, and own virtual assets in the digital world. It has a native token ‘SAND’ which is valued at $2.98 at the time of writing, according to data available on CoinMarketCap. HSBC is among one of its recent customers and bought a plot of land in the virtual world of The Sandbox.
