Kingsway Capital and Animoca Brands led the financing, which had additional support from LG Tech Ventures and True Global Ventures.
The Sandbox, a developer of web3 gaming and metaverse, raised $20 million in strategic funding via a convertible promissory note, a type of debt that can later turn into equity.
The Sandbox develops metaverse-based virtual worlds that include gaming elements. The firm intends to publicly launch a new multiplayer gaming experience as well as a decentralized metaverse for mobile devices by 2025
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