The Sandbox raises $20 million at a $1 billion valuation, led by Animoca Brands and others

TechFlow reported that according to VentureBeat, the user-generated content metaverse platform The Sandbox has raised $20 million in convertible debt financing with a market value of $1 billion. The financing was led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures.

It is understood that noteholders can convert them into equity interests in Bacasable Global Limited on the same terms as existing preference shares.