According to Foresight News, The Sandbox, a virtual world where players can build, own, and monetize their gaming experiences, has successfully raised $20 million through convertible debt financing. This recent funding round has brought the company's valuation to a staggering $1 billion.
The financing round was led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures. The terms of the financing allow note holders to convert their debt into equity of Bacasable Global Limited, under the same terms as the existing preferred shares.
This significant financial boost will likely enable The Sandbox to further expand its operations and continue to innovate within the gaming industry. However, the specifics of how the funds will be used have not been disclosed.
