Hong Kong-based gaming company Animoca Brands and its subsidiary Pixowl announced that its forthcoming decentralized blockchain gaming platform, The Sandbox, has completed an investment round and token sale of US$2.5 million, led by South Korea’s crypto assets fund and accelerator Hashed.
Other investors including Helix, Mind Fund, True Global Ventures, Blocore, ThunderCore and Alexis Bonte also participated in the round, according to an announcement.
The investment will accelerate the growth of Animoca Brands’ user-generated content (UGC) gaming platform that will empower creators through digital ownership and monetization of 3D voxel creations made and shared by users around the world.
Through the investment from Hashed and other investors, and the partnership with Kakao’s Klaytn blockchain platform that will grant access to Korea’s leading messaging app, The Sandbox is increasingly reaching Korea’s advanced marked for gaming and technology.
The Sandbox game franchise is one of the world’s largest independent user-generated content and gaming platforms. Sandbox claims that it has 40 million downloads and over one million monthly active users.
“Our new partners have a keen understanding of blockchain technology, gaming, and mass markets, and will prove invaluable to Animoca Brands and The Sandbox as we continue to break new ground and bring blockchain to the masses,” said Yat Siu, co-founder and chairman of Animoca Brands.
AXS-listed Animoca Brands leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products.
Recently, it reportedly planned to acquire Stryking Entertainment, Germany-based creator of fantasy sports game Football-Stars, for $1.1 million (1 million euros).
In early 2019, Animoca Brands, OliveX and Lympo, a long-time partner of Animoca, launched “Squat for Crypto” project, a project that promises crypto currency tokens in exchange for squatting.
Hashed manages the largest crypto assets fund in South Korea with operations based in San Francisco and Seoul. Led by serial entrepreneurs and engineers, Hashed aims to expedite global blockchain adoption through strategic investment and community building.