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The Sandbox raises $20M in convertible debt at $1B valuation for sandbox metaverse
The Sandbox, a user-generated content metaverse platform, has raised $20 million in convertible debt at a $1billion market valuation.
As part of this vision, The Sandbox will continue to improve earning opportunities for creators on its platform, including by: updating its Game Maker and VoxEdit 3D editor tools; introducing new social interactions and abilities for avatars; and expanding gameplay possibilities via its new multiplayer rules system, expected to launch in beta later this year and to the public in 2025. Our mission at The Sandbox is to develop creative tools and technologies that bring fairness and new opportunities for all types of creators in the open metaverse in all aspects of culture, particularly games, music, fashion, art, sports, and entertainment.” Borget said, “We’re excited to welcome new strategic partners who support our vision to develop the most accessible and inclusive platform that makes available the opportunities of Web3 to a global mainstream audience, and where brands and communities join hands to co-create the future of gaming and entertainment.
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