The Sandbox project has raised $ 2.1 million in cash and cryptocurrencies to build its blockchain-based gaming world, called The Sandbox.
Image source: pexels
The company started raising funds in the third quarter of last year under the name of TSB Gaming, a subsidiary of Animoca Brands, and reported with permission from the regulator. Investors include Square Enix, B Cryptos and True Global Ventures.
TSB Gaming has raised $ 4.51 million to date. TSB is now an independent company called TSB Gaming, with Animoca as its major shareholder. TSB Gaming CEO Arthur Madrid said in an interview with GamesBeat that the company will seek more equity investment in the future and will also use it for the sale of cryptocurrency tokens (SAND) inside the gaming platform. (Players can use cryptocurrencies for gaming, trading on the market, and collateral for governance).
The blockchain is a transparent and secure decentralized ledger that can be used to verify the authenticity of digital goods. This makes it useful in virtual worlds, where it can verify who created or owns a user-generated item, and allows players to bring their own digital items from one game to another.
The blockchain version of The Sandbox (which has been in a non-blockchain form under Pixowl for eight years, and Animoca Brands acquired it in 2018) will be a virtual world where players can build, own and block on Ethereum Monetize the game on the chain.
Pixowl and TSB Gaming President Sebastien Borget said:
"Our target audience is a very specific audience who think it is very exciting and unique. Few people and companies know this concept of selling virtual land. But you can even know that it has blockchain capabilities Play our games. "
It is one of the earliest decentralized, community-driven gaming platforms, providing users with real ownership of their creations, namely non-homogeneous tokens (NFT). This means they can be identified as unique items.
"Our decentralized gaming platform, the virtual world, the market for pre-sale of land-all the different products we offer are developed by a team of 40 people."
The game is expected to debut for the second half of 2020. At the same time, one of the things the blockchain enables The Sandbox to do is sell virtual land. Sandbox sold more than 10,000 virtual real estate and raised 1,300 Ethereum (one type of Ethereum). The value of December / January was about $ 400,000, and the company was able to convert it into regular currency. (Recently, the price of Ethereum has plummeted, so today it is worth $ 174,525).
Over time, the company hopes to sell land worth about $ 22 million.
"In the end, we think players can make money on the secondary market and sell their land," Madrid said.
The next land pre-sale starts on March 31. The Sandbox started with Pixowl, which was acquired by Animoca Brands. The Sandbox game franchise is one of the world's largest independent user-generated content and game platforms, with 40 million downloads and over 1 million monthly active users. The upcoming blockchain version of The Sandbox will introduce new creative and commercial possibilities by allowing users to create items and game worlds from digital equivalents built on the blockchain.
"We have more than 50 partners worldwide, including game companies and blockchain companies. We are always looking for the next direction after free games, and we believe that the use of non-homogeneous tokens (NFT) will bring players Ownership and ability to sell rare items. We want to bridge the divide between blockchain and traditional games. "
Players will notice the rewards they can get from the game, such as the ability to exchange tokens for valuable currency.
"We believe this will make players more engaged. The more you play, the more you earn, and the more assets you get. It's like teaching them the moment they will benefit from it. In contrast, Many other blockchain games are currently underperforming in terms of entry. "