The Sandbox gaming platform receives $2.5m investment

Animoca Brands has announced that its forthcoming decentralised blockchain gaming platform – The Sandbox – has completed an investment round and token sale led by crypto assets fund Hashed, raising a total of $2.5 million.

The news was announced in a press release shared with Coin Rivet. The Sandbox is among the world’s largest independent user-generated content and gaming platforms, boasting an impressive 40 million downloads and more than one million active monthly users.

As with many blockchain games, The Sandbox will heavily feature non-fungible tokens (NFTs), which in turn ensures the player owns full rights to their in-game items while also giving them the power to monetise the items if they so choose.

The investment round was led by Hashed, the world’s largest crypto assets fund and accelerator, with additional investors including Helix, Mind Fund, Blocore, ThunderCore, and Alexis Bonte.

The investment should help accelerate the growth of Animoca Brands’ user-generated content (UGC) gaming platform which will empower creators through digital ownership and monetisation of 3D voxel creations made and shared by users across the globe.

Through the investment from Hashed and others investors – including a partnership with Kakao’s Klatyn blockchain platform which will grant the game access to South Korea’s leading messaging app – The Sandbox is increasingly making its mark in South Korea’s advanced market for gaming and technology.

Furthermore, the integration of Klatyn – a public blockchain platform supported by 50 million users whose mobile lifestyle messenger service commands 97% of South Korea’s market share – is also expected to widen the audience for The Sandbox.

Interested in reading more Animoca Brands-related stories? Discover more about ThunderCore’s new partnership with Animoca Brands.