Metaverse developer The Sandbox raises $20 million via convertible promissory notes
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. Kingsway Capital and Animoca Brands led the financing, which received additional support from LG Tech Ventures and True Global Ventures, according to a company release. The funding brings The Sandbox's total valuation cap to $1 billion.
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