Sandbox is reportedly preparing to raise at least $ 400 million

Sandbox is looking for new investors

Sandbox (SAND), the successful metaverse that has recently seen its name placed on top 100 most influential companies according to the prestigious Time Magazinewould have prepared for raise $ 400 million.

The information is provided exclusively and on condition of anonymity. of our Bloomberg colleaguesthe information is confidential and the collection of funds is private.

That capital injection will be 4 times larger than last November as part of the series B round, which raised 93 million dollars. So, with an additional $ 400 million in its portfolio, Sandbox will see it valuation rocketed to $ 4 billion.

This notice comes 2 weeks later Sebastien Borgetthe co-founder of The Sandbox, announced during Non-Fungible Conference which took place in Lisbon at the beginning of the month the Sandbox was going recruit and make acquisitions of a ” aggressive ».

Specifically, he meant that could be in The Sandbox buying companies that showcase new experiences for the metaversebefore adding that the company has doubled its staff between 2021 and 2022.

The information, revealed on April 19, remains subject to changes depending on the evolution of the market and investor demand.

👉 To keep going: Metaverse – understanding these virtual worlds based on blockchain and NFTs

Great fellowship

With the above 2 million registered players while still in the alpha phase, Sandbox is a metaverse pioneer. Many personalities and international companies are quick to notice the interest in this unique world where designs are obtained at more expensive prices.

In fact, Sandbox currently has companion options from around the world, such as Snoop Dogg, Deadmau5, Avenged Sevenfold, and even companies like Adidas, Atari or the South China Morning Post.

Things have been moving fast since the start of 2022 for The Sandbox, which has seen organizations as diverse and diverse as HSBC Bank, the Carrefour and Casino groups, or even Ubisoft gain a foothold in his metaverse.

Recently, French company Ledger formalized a partnership with The Sandbox for educating participants in the metaverse on the security of their cryptocurrencies. An interesting initiative in a context where hack and phishing attempts are on the rise ahead of the success of digital assets.

SAND, the native landmark of The Sandbox, reacted positively to the news and prints a price increase on its share of about 11.12% at the time of writing these lines.

24 -Hour SAND Price – TradingView SAND/USD

SAND is currently ranked 42nd on the cryptocurrency podium with more than $ 3.4 billion in market capitalization .

👉 Read also: Meta expects a 47.5% commission for selling NFT in its metaverse

Source: Bloomberg, TradingView

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About the Author: Maximilien Prue

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Enthusiastic about the world of decentralized finance and the new things Web 3.0 brings, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change in the near future.
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