The company said it currently owns about 22% of the tokens. The company declined to disclose its valuation, but the crypto currency it backs, the Sandbox coin, has a market cap of nearly $2 billion. It has announced partnership with brands and celebrities, including rapper Snoop Dogg, who will create a digital replica of his mansion in the Sandbox's metaverse.
It provides creators with ownership as NFTs and offers tools to create assets on the platform. The Sandbox, majority-owned by blockchain gaming developer Animoca Brands, allows players to build, own, and monetize their virtual gaming experiences on the Ethereum blockchain. It also marks Vision Fund 2's first investment in a company that issues its own cryptocurrency.
The latest fund raising came a little over a year after its last round, as the company saw fast growth in monthly active users and crossed $144 million in transaction volume on the platform. New Delhi: The Sandbox, a Hong Kong-based gaming platform that allows users to build a virtual world using non-fungible tokens (NFTs), has raised $93 million from investors led by SoftBank's Vision Fund 2, the company told Reuters on Monday.
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