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Led by SoftBank, The Sandbox was able to raise as much as $93 million in an effort to grow and develop its NFT virtual world. This just goes to show just how trendy NFTs have become in only a short span of time. At this point, we now live in a time when Bitcoin’s (BTC) price continues to skyrocket and NFT games are considered to be stepping stones towards what is known as the “metaverse.”

This is a relatively new buzzword that has been flying around recently, and it refers to an interconnected universe composed of virtual worlds. If you’ve read Ready Player One or Snow Crash, you probably know very well what this entails.

It appears that SoftBank Vision Fund 2, one of the biggest companies in the world, invested the massive amount. Other investors include other people names, such as:

  • Animoca Brands
  • True Global Ventures
  • Liberty City Ventures
  • Galaxy Interactive
  • Kingsway Capital
  • Blue Pool Capital
  • LG Technology Ventures
  • Alpaca VC
  • Graticule Asset Management Asia
  • Com2uS
  • Executives at GoldenTree Asset Management
  • Nokota
  • Sun Hung Kai & Co.
  • Sound Ventures
  • Red Beard Ventures
  • SCB 10X
  • Polygon Studios
  • Samsung Next
  • Double Down Partners
  • StakeFish
  • SterlingVC
  • HodlCo

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The Sandbox is the very first investment SoftBank Vision Fund 2 has made in terms of crypto assets, although SoftBank, in general, has already invested about $680 million in Sorare. Sorare is an NFT fantasy soccer game that’s based in Paris, and its development team is only about 30 employees.

As for The Sandbox, CEO Arthur Madrid says that the funding will be a massive help to the company, allowing them to grow and expand their horizons to something much more than just gaming. They could even delve into architecture, virtual concerts and shows, fashion, museums, and a whole lot more. Both Madrid and Sebastien Borget, The Sandbox’s cofounder, are definitely interested in building the metaverse.

With the funding, the company will be able to hire even more people to reach their goals and develop more features for The Sandbox, such as multiplayer capabilities, more creative tools, etc.

The NFT Craze

The NFT boom started at the beginning of the year, but it still continues to grow in popularity even now that 2021 is almost over. The trend was especially boosted with the NFT sales of digital art as well as NBA Top Shot. It may seem unbelievable, but a digital collage by artist Beeple was even sold for $69.3 million!

By the time May rolled around, people thought the NFT craze was over. However, it became popular once again around August and September, and has been growing steadily ever since. At this point, NFT fans have a strong believe that NFTs will be leading the way towards the metaverse, a universe composed of different virtual worlds that are all interconnected to each other in some way. This means you can most likely take an NFT you’ve purchased in one world and bring it to another.

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