NFT project The Sandbox raises $93 million to build a metaverse

The Hong Kong-based gaming platform The Sandbox raised $93 million in a funding round led by SoftBank’s Vision Fund 2.

The app, available for iOS, Android and Windows, enables users to create their own universe within the game using a variety of elements.

The funds raised will help The Sandbox add non-fungible tokens to gameplay. This will allow users to monetize the items they create through the Ethereum ecosystem.

“We are building an open metaverse. We position The Sandbox as a counter to tech giants who claim that the metaverse belongs to them. We offer an alternative where users come first,” said co-founder Sébastien Borget.

In 2018, Animoca Brands acquired Pixowl, the developer behind The Sandbox.

The company is the creator of NFT games such as F1 Delta Time, The Sandbox and others. The company is actively investing in the NFT market, including projects such as OpenSea, Dapper Labs, Bitski, Star Atlas and Axie Infinity.

Earlier in May Animoca Brands raised $88.9 million from the Rothschild family fund RIT Capital Partners, Huobi and other investors. In July the NFT project received $50 million from Coinbase Ventures, Samsung Venture Investment Corporation, Blue Pool Capital and other venture firms.

In October Animoca Brands raised $65 million. The company’s valuation reached $2.2 billion.

Follow ForkLog news on Telegram: ForkLog Feed — the full news stream, ForkLog — the most important news, infographics and opinions.