By the end of 2021, there was an explosion in Metaverse games, especially with the “Play to Earn” (P2E) model. Although the coins of the metaverse have not been warm over the past two weeks, like all cryptocurrencies, the platforms of the metaverse do not seem to stop at their investments. The game company NFT The Sandbox, owned by Animoca Brands Corp, wants to develop the platform, seeking $4 billion in funding.
400 million dollars are ready
The sandbox is known as a gaming platform on the Ethereum blockchain, which allows you to exchange digital assets and gives you the opportunity to earn tokens inside the platform. With such a search for funds, Sandbox can either provide updates within the platform, or create a reserve for the platform’s own token, SAND.
In the process, The Sandbox also reports that they have started their $400 million fundraising goal from potential investors, whose identity has not yet been disclosed. The Sandbox also claims that they will not stop at $ 400 million, but will bring it up to $ 4 billion.
SAND Price Actions
Of course, this fundraising will attract more investors and players to the platform, and there will be an increase in prices for the native token of the SAND platform. In addition, today we are mainly seeing growth of up to 5% in crypto. SAND is also not far behind, and at the time of writing this article, it is trading at about $2.8333, ahead of most cryptocurrencies, having gained more than 8% in the last 24 hours.
It is also seen that after a two-week drop in cryptocurrencies, SAND began to recover with a weekly growth of 5%. However, these rebounds also show that SAND has yet to recover its monthly decline. SAND is experiencing a monthly decline of as much as 12%. Despite everything, SAND seems to have entered an uptrend, and thanks to this fundraising, it can achieve more.
The information contained in this article is not investment advice. Investors should be aware that cryptocurrencies have high volatility and therefore risk, and should execute their transactions according to their own research.