Blockchain-based gaming company The Sandbox, one of the key players in Metaverse, has reportedly reached a valuation of $ 4 billion with $ 400 million in financing from existing and new investors.
According to Bloomberg's report, the valuation process continues and it is mentioned that detailed information such as the fund size and valuation may change depending on investor demand. The Sandbox team has not yet made an official statement on the subject.
Sandbox had raised $93 million in a Series B investment round led by SoftBank about 6 months ago. Major companies participating in the latest round of investment included Galaxy Interactive, True Global Ventures, Angelhub and Square Enix.
In the funding round in November, Sandbox co-founder Sebastien Borget stated that they are trying to take the Metaverse economy beyond the gaming industry.
In 2018, Hong Kong-based NFT digital real estate firm Animoca Brands acquired Pixowl, the original developer and publisher behind The Sandbox. Sandbox, which has a Windows, iOS and Android compatible platform, currently allows its users to create their own spaces in Metaverse.
Latest situation in SAND token
Sandbox (SAND), which is in the 40th place with a market value of $ 3.2 billion today, will have a significant amount of funding if it successfully completes the aforementioned investment round. Sandbox is currently the second largest Metaverse token after Decentraland (MANA).
The SAND price has yet to break the downtrend, which started at $8.48, the peak price in November last year. The average price of $2.6 for SAND in 2022 worked as solid support. On the other hand, 3.1 - 3.15 dollars is in the price area where the falling trend line coincides with the current situation.
The Sandbox price is priced at $2.92 at the time of writing. The Sandbox (SAND) price is up 7.4% in the last 24 hours.