Sandbox Sells Virtual Land Parcels worth 3,330 ETH in Six Hours

Sandbox Sells Virtual Land Parcels worth 3,330 ETH in Six Hours

The Sandbox (TSB), wholly-owned by game company Animoca Brands, has announced today that it sold out its third presale of virtual land in six hours, according to Decrypt website.

The company managed to generate 3,330 Ethereum (ETH) worth $440,000 through selling 12,384 LAND parcels.

The Ethereum-based game allows players to build and invest their gaming experiences in a virtual world.

In the map shaping the game’s metaverse, a total of 166,464 LANDS will be available. LAND is the simple sandbox unit on the platform and each LAND consists of 96×96 meters.

History of LAND presales

TSB has quickly become one of the most sought-after blockchain games, with over 40 million downloads. The first presale took place in December 2019, through which more than 3,000 pieces of LAND were sold in four hours. The second presale was carried out on February 16, with the sale of 6,192 of pieces of LAND.

The fourth and final presale will be unveiled later this year.

TSB Gaming Co-founder Sebastien Borget said:

“With this horrible pandemic situation, we feel the need for people to use digital spaces to express and share together.”

TSB receives $2M investments

The Sandbox (TSB) announced that the third quarter of 2019 had been fruitful for the game.

During the period from July to September 2019, TSB has raised $2.01 million; 83% in cash and 17% in Bitcoin and Tether at the time of the transaction, through the issuance of “SAND” utility tokens and simple agreement for future equity (SAFE) convertible securities.

The investment was made by Square Enix Co., B Cryptos Inc., Mindfulness Capital, and True Global Ventures 4 Plus Fund GP.

Borget went up to say:

“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.”

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.