The Sandbox seeks to raise $400M, valuing metaverse firm at $4B valuation: Bloomberg

The Sandbox (SAND-USD) is seeking to raise about $400M in new funding that would value the metaverse firm at more than $4B, people familiar with the matter told Bloomberg Tuesday. That valuation could change depending on market sentiment and investor demand, the people added. Sandbox (SAND-USD), which allows traders to monetize digital assets and gaming experiences in the Ethereum (ETH-USD) blockchain, is discussing the financing round with potential investors, the people highlighted, as reported by Bloomberg. The move would come about six months after Sandbox (SAND-USD) raised $93M in a series B round led by SoftBank (OTCPK:SFTBY) (OTCPK:SFTBF) Vision Fund 2, Bloomberg noted. Meanwhile, sandbox (SAND-USD +12.7%) tokens are climbing Monday morning as ethereum (ETH-USD +6.4%) jumps back to $3.11K. In mid-March, HSBC partnered with The Sandbox to but a plot of virtual real estate.