Animoca Brands Raises $2.5 Million For Blockchain Gaming Platform The Sandbox
DLT gaming leader Animoca Brands has managed to raise over $2.5 million for blockchain based gaming platform The Sandbox. Animoca’s Pixowl department in redesigning The Sandbox as a blockchain-based online game, with content that players can buy and sell via the platforms native token.
This is the first true big funding for The Sandbox after it was acquired by Animoca Brands in August last year. Pixowl, a subsidiary of Animoca Brands stated that they raised the money to build an ecosystem for The Sandbox, which would allow players to create their own virtual experiences. Arthur Madrid, CEO of Pixowl said in a statement,
The Sandbox offers everyone accesses to a new economic model where players and creators fully participate in the value creation chain and can benefit from the new paradigm where content is the platform. We are excited to be one of the first blockchain-enabled games.
He further added that the company aims to attract investors who can help the company build an ecosystem for a blockchain game globally.
The Sandbox platform is among the world’s largest user-generated content and blockchain gaming platforms. Previously, it had over 40 million downloads, with over one million monthly active users. Hashed, South Korea’s largest crypto assets fund and accelerator, is leading the investment. Others include Helix, Alexis Bonte, Mind Fund, ThunderCore, Blocore, and True Global Ventures.
Apart from the investments from Hashed and others, Animoca has also partnered with Kakao’s Klaytn blockchain platform, which enables integration with South Korea’s leading lifestyle messenger service that has 97% of the market share.