The Sandbox, a blockchain and NFT gaming platform has raised a $93 Million Investment fund from the Vision Fund 2 fundraising by Softbank.
Primarily owned by Animoca, The Sandbox enables players to create, monetize and trade NFTs used as assets, and facilitates the building of unique and personalized worlds within its Metaverse.
Little wonder its native token, SAND, appreciated significantly over the past few days following the recent focus on Metaverse tokens and Facebook’s announcement of its parent company’s name change to Meta Platforms Inc.
The virtual gaming platform gained a significant number of users, recording a transaction volume of $144 million, making it the first company in Vision Fund’s portfolio to own a native cryptocurrency.
Animoca Brands primarily owns the Sandbox, and its native token, which is part of the virtual gaming platform’s portfolio of assets, is estimated at almost a quarter of the total supply of Sandbox tokens.
According to its detailed price analysis, The Sandbox’s trading price is expected to continue its bullish run, following the $93 million investment funding and the increasing focus on the Metaverse and its endless possibilities.
The Sandbox had announced its continued partnership with other brands and celebrities such as SnoopDogg whose house would be recreated within the Metaverse.
Softbank has a significant number of NFT-related companies in its portfolio, an indication that it has interests in that sector.
It plans to scale the Sandbox metaverse beyond NFT gaming platforms and also aims to exhaust its economic options in areas like fashion.
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