InstaForex

November 2, 2021

The Sandbox (SAND) Jumps Over 70% After Raising $ 93 Million!

 The Sandbox (SAND) managed to raise $ 93 million in investor funds, driven by SoftBank’s Vision Fund 2 on Monday.


For the record, this is Vision Fund 2’s first investment in a company that produces its own cryptocurrency.


The Sandbox is a game that is mostly owned by blockchain -based game developer, Animoca Brands.


The platform has reportedly partnered with several big brands and celebrities, including rapper Snoop Dogg who wanted to create a digital replica of his home in the Sandbox metaverse.



So far, it is not yet known how much the company is worth but SAND recorded a price jump of over 73% in 24 hours, trading at $ 2.83 at the time of this article.


The market value of SAND also showed an increase of almost 70% with a record hit of $ 2.4 billion.


SAND also posted an increase of more than 200% after the announcement of Facebook’s name to Meta Platforms Inc last week following investor excitement over metaverse game developer companies.


Interestingly, this investment will support the economic growth behind the Sandbox company which is now also focusing from games to fashion, design, and virtual concerts.


In addition to Animoca Brand, SoftBank has also intensified fundraising for NFT sports startups, Candy Digital and NFT fantasy football game, Sorare.