The Sandbox announces another round of funding, new acquisitions, but no IPO

According to Sebastien Borget, chief operating officer and co-founder, the firm is planning “aggressive” moves in mergers and acquisitions. The company has more than doubled its workforce to 200 since last year and plans to expand even further in 2022.

The Sandbox is looking toward organizations that are “creating compelling metaverse experiences for users,” according to Borget.

Bloomberg reported on April 6 that the company does not plan to go public yet. Borget said:

“From what I see, most private companies went public after they had hundreds of millions of users. We are proud to say that we have between 2.3 and 2.4 million users. Let’s talk again in a few years.”

Massive Meta Plans

Softbank investors raised $93 million to fund The Sandbox in November 2021. Animoca raised $2.5 million funding in 2019 for The Sandbox’s development.

Metaverse has expanded its reach to virtual concerts and events by selling digital land to performers and fans, and tickets to their artists.

Snoop Dogg is one of the most prominent names to use The Sandbox. He made his latest music video in The Metaverse with his digital doppelganger. It has also recently forged partnerships with major names in fashion, banking and other industries.

The Sandbox, an international bank giant, partnered last month with HSBC to offer financial services and esports opportunities.

Earlier this year, it was reported that Animoca Brands’ valuation had surged to $5.5 billion following a fresh funding round worth $360 million.

Outlook on SAND Price

SAND, the native token of the Metaverse platform, has not responded to the bullish outlook from its COO. According to CoinGecko the token had fallen by 7% over the course of the day and was currently trading at $3.2

SAND has lost more than 8 percent in the last week, with the majority of this loss occurring within the past 24 hours. The Metaverse token has fallen 62% since its November 25 high of $8.40.

From a total supply 3 billion tokens, there are approximately 1.1 billion SAND currently in circulation. It has a market capitalization of $3.7billion.

 

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