The Sandbox announces $2 million investment lead by Square Enix

Animoca Brands’ subsidiary TSB Gaming has revealed it raised $2 million for The Sandbox in October 2019. 

Companies involved in the investment included Square Enix, B Cryptos, Mindfulness Capital and True Global Ventures (TGV).

The investment was made with both cash (83%) and cryptocurrency (Bitcoin and Tether) with the investing companies receiving The Sandbox’s SAND ERC20 tokens and SAFE convertible securities (the option to buy stock in future) in return. 

The reason the investment wasn’t previously announced was due to concerns arised by the Australian stock exchange Animoca Brands was listed on. It’s since delisted from the ASX, so can now make the announcement public. 

The Sandbox – an attempt to make Roblox on the Ethereum blockchain – is currently running regular presales for its permanent LAND token. The third one is due to start on 31 March. 

The game itself is expected to go live in the second half of 2020. You can find more details via The Sandbox website

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