Japanese video game maker Square Enix has shown the potential of blockchain games earlier this year, and today the blockchain game company The Sandbox announced that it raised $2.01 million USD from July to September of 2019. Square Enix being one of the investors. The Sandbox is wholly-owned by Hong Kong-based game company Animoca Brands. By establishing a virtual world in Ethereum, players can build and buy land, properties and props.
Of the funds raised by The Sandbox, 83% are in cash, and the remaining 17% are in Bitcoin and Tether. The company will issue its cryptocurrency SAND and convertible securities to investors. The Sandbox’s blockchain version is built on the blockchain platform Ethereum. The game allows players to create props, buildings, etc., and the game uses Non-fungible Tokens to record these virtual items and allow players to own their items.
At the same time, players can trade related items in the game. This year, more than 10,000 virtual lands in the game have been pre-sold, and more than 1,300 ether have been obtained. At today’s price, it is about 1.44 million yuan. Its third round of land sales will begin tomorrow, and the blockchain version is expected to launch in the second half of this year. As for its non-blockchain game version, it has recorded more than 40 million downloads and more than 1 million monthly active users. The Sandbox Operations President Sebastien Borget said that the acquisition of Square Enix as a strategic investor will help the company promote the development of blockchain games.