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Apr 20, 2022
by Jafrin Ahmed
Metaverse Platform Sandbox Looks to Raise $400M at $4B Valuation
Metaverse game The Sandbox is reportedly looking to raise $400 million in a fresh funding round that would put its valuation at $4 billion. The report from Bloomberg, citing anonymous people familiar with the matter, hinted that the team is considering raising the funds from both new and existing investors.
Per the sources, the details such as the size and the valuation of the new raise are subjected to change based on market sentiment and investor demand.
A new fundraising deal would follow a previous one from November last year when the company completed a $93 million round led by SoftBank Vision. Other previous investors to have participated in The Sandbox's fundraise included True Global Ventures, Square Enix, Galaxy Interactive, and Angelhub.
At the time of writing, the platform's native SAND token was priced at $2.97, up by 7.9% from the past 24 hours with a market capitalization of $3 billion.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.