Animoca Brands (ASX:AB1), a Hong Kong-based mobile game developer, announced last week that it raised $2.01 million for TSB Gaming, its wholly-owned company behind the upcoming virtual voxel game world The Sandbox, in the third quarter of 2019.
Stock up on blocks as @TheSandboxGame ROCKS ??????????????????!?@animocabrands is excited to announce that @SquareEnix, BCryptos and TGV have invested US$2.01 million in the decentralized, virtual world of The Sandbox ??! Read our press ??release: https://t.co/5oHABt9AJ4 pic.twitter.com/W6VpeODhZx
— Animoca Brands (@animocabrands) March 21, 2020
According to the announcement, the investment was an extension of the company’s previous investment round, bringing the total round size to $4.51 million. The investment came in the form of the issuance of SAFE convertible securities and the presale of SAND utility tokens and featured participation from Square Enix, True Global Ventures and B Cryptos.
“The Sandbox is a pioneer in the space of blockchain gaming, NFTs, and true digital ownership, and we are thrilled to have Square Enix with us as a strategic investor, supporting our ambitious vision of building the Metaverse where Creators can make games on their LANDs and trade ASSETS on our marketplace in a totally decentralized manner,” said Sebastien Borget, COO of Pixowl and TSB Gaming.
Square Enix’s participation in the round is notable, as it marks the publishing giant’s first major foray into blockchain gaming.
“Games using blockchain are no longer in their infancy and are gradually coming to represent a more significant presence,” Square Enix President Yosuke Matsuda stated in a letter earlier this year. “Rather than treating blockchain gaming as an opportunity for speculative investment, we believe establishing whether it is capable of bringing something new to our customers’ gaming experiences will be the key to growth.”
TSB Games plans to launch The Sandbox in the second half of 2020.
More: Animoca Brand’s Investment Round Announcement
Recent: Blockchain Virtual World The Sandbox Partners With Matic Network (MATIC)
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
