The popular metaverse gaming platform The Sandbox reportedly is planning to raise $400 million from both existing and new investors at a $4B valuation.
According to a Bloomberg report, for the fundraising round, the Sandbox is in talks with possible investors with more details to be revealed later.
Specifics about the new round’s size and valuation are still being considered, and they could alter based on market sentiments and investors interest.
The announcement comes less than six months after SoftBank’s Vision Fund 2 led a $93 million Series B financing for The Sandbox. Other past investors include True Global Ventures, Square Enix, Galaxy Interactive, and Angelhub.
At the time of its Series B fundraise in November, The Sandbox chief operating officer and co-founder Sebastien Borget said in an interview with Reuters that the round is aimed to help the firm expand the metaverse economy beyond just gaming.
Earlier this month Borget announced in the NFC Summit that the platform is planning for expansion intending for ‘aggressive’ moves in mergers and acquisitions. And with the latest funding Sandbox aims to expand in terms of workforce.
Adidas AG, retailer Carrefour SA, and Warner Music Group are among the companies that have recently purchased virtual plots in The Sandbox aiming to hold live concerts on the platform.
