# The Sandbox Raises at $1B Valuation

*Author: David Christopher*
*Published: Jun 6, 2024*
*Source: https://www.bankless.com/de/the-sandbox-raises-at-1b-valuation*

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Crypto gaming startup The Sandbox has raised $20M at a $1B valuation. Kingsway Capital and Animoca Brands led the investment, which was supported by LG Tech Ventures and True Global Ventures.

### What's the scoop?
- **Token Reaction:** Following the funding announcement, the SAND token increased by 4.5%, though this new round speaks to the broader challenges in the NFT and gaming spaces. The company’s private valuation went from a targeted $4B in 2022 to an actualized $1B today.
- **Future Plans:** The capital will go towards enhancing features and developing a decentralized metaverse for mobile devices, which is expected to launch in 2025. Updates to some of its other tools are also planned.

### Bankless Take:
While the “*metaverse*” stood out as a central narrative last cycle, we have yet to see it return to those heights this time around. That being said, the ability to build one’s own metaverse for friends or a community remains an intriguing prospect, evident from the reported 5.7M users and >1K unique experiences developed via [The Sandbox since its Alpha](https://www.coindesk.com/business/2024/06/06/the-sandbox-raises-20m-at-1b-valuation-sand-rises-45/) release last November. 

With projections that the metaverse may add $5T to the global economy by 2030, this forever sought-after virtual land continues to draw investment, especially from the Web3 angle that believes digital ownership via blockchains would be a way for users, not just providers like Minecraft or Roblox, to share these riches.