SoftBank Leads $93 Million Investment In NFT Gaming Company

Source: Pixabay

The Sandbox is a gaming platform based in Hong Kong that allows users to build a virtual world using NFTs. This has been able to raise $93 million from investors that are led by SoftBank’s Vision Fund 2, according to the latest reports coming from Reuters.

The press agency also made sure to note the fact that the latest fund raising came a little over a year after its last round.

It’s also important to note that the firm saw fast growth in monthly active users and crossed $144 million in transaction volume on the platform.

Another issue worth mentioning is the fact that this also marks Vision Fund 2’s first investment in a company that issues its own crypto.

“The Sandbox, majority-owned by blockchain gaming developer Animoca Brands, allows players to build, own, and monetize their virtual gaming experiences on the Ethereum blockchain,” Reuters notes.

The press agency also continues and says that it provides creators with ownership as NFTs and offers tools to create assets on the platform.

The firm has announced partnership with brands and celebrities, including rapper Snoop Dogg, who will create a digital replica of his mansion in the Sandbox’s metaverse.

Snoop Dogg is an ETH whale

Back in September, we were revealing that Snoop Dogg is an ETH whale. 

Decrypt online publication noted just recently that Snoop Dogg has already made waves in the NFT space.

This happened when he launched his own branded collectibles this spring, as well as a collaboration with the creator of the popular meme, Nyan Cat.

On the other hand, his latest move is truly unexpected: he claims to be the real person behind a pseudonymous crypto Twitter personality – this is one that has spent millions of dollars acquiring a very valuable collection of blue-chip Ethereum NFTs.

Stay tuned for more relevant news.

Previous ArticleNext Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
>