Investors had been ignoring metaverse altcoins for a while because the enthusiasm had shifted to different altcoins. Artificial intelligence, new meme coins, and even PolitFi tokens had overshadowed the metaverse. Then today, SAND Token announced its new investment with a bang.
SAND Coin News
According to a recent announcement, the popular metaverse altcoin secured a $20 million convertible debt at a $1 billion valuation. The SAND team will use this fund to support content creators on the platform and the in-metaverse economy. Following the news, SAND Coin saw a 5% increase.
The announcement stated:
“The new fund will be used to advance The Sandbox’s vision of a decentralized virtual world where culture meets gaming, and the community can actively participate in and benefit from the growth of the entire ecosystem.”
The Sandbox CEO Arthur Madrid shared his goals regarding the investment:
“If we can strengthen and grow our economy, people can use Game Maker to create their own experiences on their phones. They can launch their experiences on virtual lands and start earning money.”
