Metaverse Booming, SAND Crypto Price Skyrockets And The Company Gets IDR 1.3 Trillion In Funding

SAND crypto prices skyrocket (TheMarketPeriodical)

JAKARTA – A blockchain-based metaverse game platform The Sandbox has successfully raised USD 93 million (approximately IDR 1.3 trillion) in series B funding. The injection of funds came from Softbank's Vision Fund 2, Animoca Brands, Liberty City, True Global Ventures, and Galaxy Interactive. The funds will be used to develop and expand the reach of the game.

"This investment round led by Softbank Vision Fund 2 will help enhance our growth, operations and player acquisition strategies in The Sandbox ecosystem while delivering a clear statement that the world's most innovative fund believes in Web3 and decentralization as the next big trend," said Sebastien Borget, COO and co-founder of The Sandbox as quoted from Bitcoin.com News.

Sandbox, Animoca Brands' metaverse gaming platform, has experienced explosive growth since its creation. Sandbox has more than 500K users with in-game digital wallets. The sandbox allows users and companies to own tradable virtual land.

One of the celebrities from the United States, Snoop Dogg has made a deal to bring a digital alter ego into the game. A number of other games also participate in the ownership of virtual land in the virtual world.

Metaverse-Based Cryptos Skyrocket

Metaverse is not new, a number of technology companies including Facebook helped build their own metaverse. This is indicated by changing the company name to Meta. The boom in the metaverse has helped push up the price of the cryptocurrency SAND and a number of other metaverse-based game coins, one of which is Decentraland (MANA).

At the time of writing, data from CoinGecko stated that the SAND token skyrocketed to the level of IDR 42.761. SAND has increased by 297.8 percent in the past week. SAND ranks 64th as the largest cryptocurrency by market cap.