Metaverse project The Sandbox is preparing to close a $400 million funding round. According to its results, the platform’s valuation may exceed $4 billion, Bloomberg has reported citing its own sources.
The Sandbox’s parent company Animoca Brands is in talks with potential investors. In their course, both the amount of the round and the valuation may change, depending on the mood in the market.
In November 2021, the project raised $93 million. A Series B funding round was led by SoftBank’s Vision Fund 2. For the fund, the deal was the first investment in the crypto industry and was aimed at accelerating the development of The Sandbox metaverse.
The project team announced at the end of the month the launch of the alpha version of the virtual world.