As per a press release announced by Animoca Brands, blockchain based gaming platform The Sandbox (TSB) secured $2.01 million in a funding round led by Square Enix. Other participants included B Cryptos, Mindfulness Capital, and True Global Ventures. The funding round took place in the third quarter of 2019, and has been officially announced today.
Comments about the Funding
Talking about the recent funding, Sebastian Borget, COO of TSB Gaming commented, “The Sandbox is a pioneer in the space of blockchain gaming, NFTs, and true digital ownership, and we are thrilled to have Square Enix with us as a strategic investor, supporting our ambitious vision of building the Metaverse where Creators can make games on their LANDs and trade ASSETS on our marketplace in a totally decentralized manner.”
On the other hand, Square Enix also stressed on the huge potential of blockchain based gaming. Square Enix president, Yosuke Matsuda confirmed that the firm is looking forward to adopting disruptive technologies like Blockchain in order to formulate its future growth. He added, “Meanwhile, games using blockchain are no longer in their infancy and are gradually coming to represent a more significant presence. Rather than treating blockchain gaming as an opportunity for speculative investment, we believe establishing whether it is capable of bringing something new to our customers’ gaming experiences will be the key to growth.”
About The Sandbox (TSB)
TSB gaming platform is built on the Ethereum Blockchain and is powered by its native token SAND. Users on the platform can buy them or earn by playing games on the platform. These tokens can also be sold in exchange for Ether.
Till date, the game has had more than 40 million downloads. During the first and second presale, it has also nabbed more than 1300 ETH.
The third pre sale of TSB will start on March 31st and the game is officially scheduled to launch on the second half of 2020.