According to the news of Bloomberg, based on its own sources, the Sandbox metaverse project is preparing to complete a 400 million dollar funding round.

Parent company Animoca Brands is in talks with potential investors, they said. In exchange rates, both the amount of the round and the valuation may change depending on the mood in the market.

In November 2021, the project raised $93 million. A Series B funding round was led by SoftBank’s Vision Fund 2. The deal for the fund was the first investment in the crypto industry and was aimed at accelerating the development of The Sandbox metaverse.

The project team announced the launch of the alpha version of the virtual world at the end of the month.

In 2022, sites in The Sandbox metadatabase were acquired by Italian fashion house Gucci and the largest British bank HSBC. Warner Music Group Corporation partnered with the project to create a theme music park.

In April, manufacturer of hardware crypto wallets Ledger launched an educational initiative for users of The Sandbox world.

Recall that analysts at Citibank, the largest international bank, predicted that the metaverse economy will grow to $13 trillion by 2030.