The Sandbox, a blockchain-based gaming platform, recently raised $93 million in a round led by the SoftBank Vision Fund 2.
The funds will go towards building the open NFT metaverse, allowing users to create, play, own, and monetize gaming experiences.
This represents a major step forward in the company’s vision for the future and its commitment to continuing to build open user tools and experiences.
Overview of The Sandbox
The Sandbox is the world’s first fully immersive, full lifecycle 3D playground, offering users the unparalleled ability to create, experience and monetize their gaming experiences. The Sandbox is a virtual world experience built by players for players that covers a wide variety of genres from racing to RPGs. With powerful tools for in-game asset creation, exquisite art content and endless user generated experiences made available to play, The Sandbox allows creators to bring their visions to reality.
The Sandbox features a unique in-game economy based on SAND token. SAND is an ERC20 utility token that powers the entire ecosystem and is used as rewards and payments within the virtual economy – both by players creating content and by gamers who acquire content assets or even rent game servers to create their own MMORPG. Furthermore, as part of a responsible gaming framework designed in collaboration with multiple stakeholders, The Sandbox has integrated with our partner Upland for trading digital real estate (LAND). As a result, players can purchase and trade virtual properties represented as non-fungible tokens (NFTs) on Ethereum blockchain network.
Additionally, players have full control over their gaming assets which allows them to transfer them between games enabling cross game monetization; these assets include game items such as creatures or tools they use while playing core games or user-generated content (UGC) assets – such as levels created by game level designers on The Sandbox’s editor.
The Sandbox Raises $93M in Round Led by SoftBank Vision Fund 2 to Grow Its Open NFT Metaverse
The Sandbox, the open NFT metaverse, has raised $93M in round led by SoftBank Vision Fund 2 to advance their vision for the future.
This ambitious round of funding will accelerate the metaverse’s growth, making it even more immersive and interactive. This round of funding also strengthens The Sandbox’s commitment to creating a decentralized and diverse metaverse full of user-generated experiences.
Let’s take a deeper look into this round of funding and what it means for The Sandbox’s future.
Overview of the $93M Round Led by SoftBank Vision Fund 2
The Sandbox, a decentralized virtual world based on non-fungible tokens and blockchain gaming, recently secured $93 million in venture capital for expansion. The round was led by SoftBank Vision Fund 2 and includes SBI Investment, GamesCapital, MindWorks Ventures, Endeavor Catalyst and Animoca Brands Corp Ltd as new investors. This investment solidifies the company’s commitment to delivering the best player experience while empowering game developers with industry-leading technology and tools to build experiences.
The $93M funding is set to accelerate the development of The Sandbox’s virtual universe – a metaverse consisting of games, experiences and models with true ownership over digital assets thanks to blockchain technology. Fans will be able to truly own their creations thanks to NFTs (non-fungible tokens) and sandboxing techniques inspired by open-world video games such as Minecraft that are adapted for blockchain play. In addition, players can monetize their activity through an economy built upon in-game cryptocurrency rewards.
The Sandbox’s vision for the future focuses on offering creative freedom by providing players a wide open canvas to create their own stories, adventures, and interactions. With immersive 3D experiences combined with user generated content creation tools like VoxEdit followed by massively multiplayer online experiences enabled by gameplay rules like a Contest of Champions made possible by dedicated smart contracts architecture powered blockchains like Ethereum ,creators are now given untapped potential unimaginable only a few years ago.
Moreover, The Sandbox leverages its deep relationships established over years in the gaming industry across the entirety of its offering chain that ranges from Game asset markets like The BlockBox Marketplace to full game production pipelines leveraging tech such as Reality Unlimited´s AI competitor Generator & Unreal Engine 4 implementation provides excellent opportunities for game developers worldwide without requiring any programming skills toward making money off their creations within The Sandbox metaverse itself or later licensing pieces out as standalone parts within other games outside of it once marketplaces are made available publicly.
By allowing players real ownership over their creations (a concept referred to as sandboxing) this new paradigm shift within gaming raises standards all across the board in terms of quality gaming experiences & creative freedom while also creating opportunities for collaboration between creative content creators & gamers who all share similar goals collaboratively towards building unprecedented digital brand ecosystems powered through interoperability hubs between platforms all seamlessly supported & processed through dedicated cryptographic infrastructure & layers reducing counterparty risk via blockchain proof of stake technologies bolstering against malicious intent or losses would these occur ever so rarely connected securely thereby lowering purchasing costs enabling higher viable profit margins per sale regardless of where could that end user be located globally – no matter whether they’re at home sitting with an Oculus Rift headset plugged into an android device or inside some PC cafe abroad . Either way once certain milestones have been achieved connecting different approaches a lot more additional form factors & user traction points would become available expanding reach further exponentially multiplying potential ultimately leading towards mainstream adoption both on human communication side but also financial activities within not just video gaming industry but output results being applicable other vertical industries such those having already begun exploring easy asset tokenization when corporate structures need terraforming journeys due shrinking bottom lines due seasonality patterns followed global commerce
Plans to Grow Open NFT Metaverse
Sandbox is excited to announce plans and developments to grow the open non-fungible token (NFT) metaverse over the next year and beyond. As part of our long-term vision for building trust in blockchain that amplifies distributive computing, we are focusing on how to make NFTs more accessible, secure and reliable.
This includes creating a novel form of entertainment through games and experiences within the Sandbox metaverse. In addition, we intend to create an open NFT marketplace powered by Token Economics, which fosters collaboration between creators and players alike. Through embedding economic incentives into our metaverse ecosystem, we believe it will spawn valuable for all adopters on the platform — creators, players, curators and entrepreneurs — which in turn will create an even more vibrant NFT ecosystem with increased discovery potential of valuable assets in this ecosystem.
To bring this vision to life, we plan to build several new platforms including SANDBOX MONETIZATION HUB – an exclusive platform allowing game developers monetize their creations within Sandbox with tokens as in-game rewards or play-to-earn mechanics; AMP CURATOR PLATFORM – to bring curated content from prominent external sourcess such as official sandbox merch stores or voxel auction houses; NESTING TOOLS – that facilitate power user nurturing of in-house creations through drag/drop editing tools; DATA BRIDGE—that effectively transfers data input from different external service platforms into our exchange (viz WalletConnect); SANDBOX EXCHANGE–a secure peer-to-peer marketplace where users can buy/sell assets they obtained while playing games; We are transforming game creation across all levels – making games playable everywhere, accessible by everyone and enabling new forms of value belief throughout entire gaming economy universes.
The end goal is to enable new forms of digital ownership as catalyst for innovation especially user generated content resulting into meaningful play opportunities enhanced further by secure digital assets layer also allows us further develop protocols like Blockchain Gaming Ecosystem Protocol (BGEP) for powering other blockchain native services like trustless trading or censorship resistance smart contracts engine built alongside 4 main pillars : network nodes , mode , asset generation , consensus mechanism. This protocol suite is built on existing technologies like Ethereum Virtual Machine / Protocols.
Benefits of The Sandbox
The Sandbox is an open NFT Metaverse, which aims to create a budget-friendly gaming platform by harnessing blockchain technology. The company recently raised $93 million in a round of funding led by SoftBank Vision Fund 2, showing the platform’s potential.
In this article, we’ll discuss some of the key benefits that The Sandbox offers users.
Increased User Engagement
The Sandbox is highly committed to fostering a community of people and creators who share their knowledge and experiences through playful, immersive experiences. The platform hopes to drive increased user engagement and collaboration globally through this.
The Sandbox will enable users to interact with existing digital entities and create their in-world assets. This allows them to experiment creatively within a virtual space that can adapt over time as technology evolves. As a result, players will have the freedom to shape, design, and co-create unique gaming experiences that are both safe and rewarding.
Additionally, The Sandbox platform encourages content discovery through its tokenized rewards system. By awarding players SAND tokens for content or activities they engage with, The Sandbox helps cultivate a vibrant community by increasing the value these activities have in terms of experience points and digital value rewards.
Moreover, The Sandbox’s boasts its League Play feature – an incentivized tournament system that pits players against each other for rewards – further driving player engagement in quickfire gaming sessions through increased competition amongst users on the platform. Beyond this core feature set, Roadmaps going forward also outline social networking tools which can further facilitate relationship building amongst players of all levels of expertise – encouraging users to join forces on game creation projects or form teams in epic PVP battles against one another from anywhere around the world!
Increased Revenue Streams
The Sandbox seeks to revolutionize the gaming industry by allowing users to own and monetize their digital assets through blockchain technology. This means that players can create, explore, play and share digital experiences within the platform’s virtual world called The Sandbox.
By using non-fungible tokens (NFTs), players can create unique digital assets and stories with which they can monetize inside sandbox games and across multiple platforms. This will provide new revenue streams for players such as in-game sales, gaming collectibles, streaming rewards, subscription fees and more. This increased revenue stream potential is an unparalleled feature of The Sandbox’s blockchain technology which significantly increases player income potential beyond traditional gaming revenue models.
NFTs will also allow players to buy virtual land parcels in games and build their/other’s custom game experiences, creating a land market ecosystem that could undoubtedly serve a huge pool of users across all major platforms, especially mobile ones. Furthermore, yielding fans greater ownership over their creations enables the establishment of fan communities, which in turn helps strengthen engagement levels on the platform with increased economic opportunities for all stakeholders involved.
Enhanced User Experience
As the internet expands, so do the expectations of users. One size fits all designs and experiences no longer meet the demands of sophisticated customers, and business owners can’t afford to ignore important opportunities that may be slipping away.
The Sandbox offers an enhanced user experience for customers by making websites highly visual, responsive and intuitive. The Sandbox allows users to customize their site to the tiniest detail from resolution to color scheme and design element placement. In addition, our advanced systems make it easy to switch between themes without losing any content or deleting campaigns that have already been put in place, so you can instantly create a look or feeling with a few clicks — no coding experience needed! Ultimately, this enhances user engagement because viewers are immediately taken in by the design style before they even read the content.
Additionally, The Sandbox provides transparent interfaces on both back-end development tasks and administrative management of user accounts, allowing users to take control over their own experiences without sacrificing technicality. Using our built-in insights tools, users can keep track of their website performance in real-time — allowing for more agile changes based on data collected from their unique customer base.
In conclusion, The Sandbox’s vision for the future is clear. They can grow its open metaverse by raising $93M in their round led by SoftBank Vision Fund 2, providing users with unique NFT experiences.
The Sandbox team will continue to strive towards building a compelling and immersive metaverse, and it is something to keep an eye out for in the future.