The Sandbox Launches $35 Million Fund for Game Development Projects

Alongside a new fund, The Sandbox is also planning to become an open content publishing platform for creators and release Game Maker version 0.9.

The Sandbox Launches $35 Million Fund for Game Development Projects

At The Sandbox's Creators Day event held on November 3, 2023, in Hong Kong, the metaverse platform unveiled its core plans for 2024, focusing on empowering user-generated content (UGC) within its ecosystem. Currently, The Sandbox boasts over 200 creative studios, 130,000 creative users, and 24,000 LAND owners, generating over 200 metaverse experiences on the platform.

The project anticipates this number will rise to 2,000 in 2024, thanks to a new Game Maker fund worth 100 million SAND, approximately $35 million (a threefold increase from the $10 million fund in 2021), to incentivize creators.

During the event, The Sandbox's executive team announced three major changes aimed at empowering content creators within the ecosystem:

Becoming an Open Content Publishing Platform for All UsersStarting from November 3, 2023, LAND owners can publish their completed experiences directly on The Sandbox Map, eliminating the initial slow process.This update creates a fully open metaverse world for UGC, aiming to accelerate content publishing capabilities and unleash the creative potential of game developers on the platform.

Releasing Game Maker Version 0.9The Sandbox platform comprises three main components for user-generated content: VoxEdit, Marketplace, and Game Maker.Game Maker allows players to create 3D games at no cost, utilizing multidimensional image-building technology without requiring programming skills.The Game Maker 0.9 update will introduce new gameplay mechanisms, fresh templates, and new social interactions to make content production easier and offer more engaging functionalities for players.

Launching a New $100 Million SAND Game Maker FundAccording to The Sandbox, in 2021, the Game Maker fund supported over 200 projects with a total of $10 million (e.g., Chicago Noir, Astro Archaeologist, Rare Abyss Hunter...).Starting in 2024, the new 100 million SAND Game Maker fund will empower more creators. The Game Maker reward system will not only select based on content creation but also on the level of involvement of creators in the ecosystem.Nicola Sebastiani, The Sandbox's Chief Content Officer, stated that this approach would enhance creator experiences on the platform and deliver a message:"We value the experiences you create. We appreciate the worlds you build, the stories you tell, and the adventures you design within the ecosystem."

As reported by Coin68, The Sandbox (SAND) is a long-established metaverse project in the crypto market, heavily invested during the late 2021 metaverse boom. The project raised $93 million from SoftBank in November 2021, was valued at up to $4 billion at one point, and established partnerships with major brands and government entities, including adidas, Warner Music, Gucci, HSBC, DBS, TIME magazine, Playboy, and the governments of Dubai and Saudi Arabia.

Speaking at Creators Day, Sebastien Borget, CEO of The Sandbox, confidently affirmed his vision of delivering a new, engaging, and enriching entertainment model for users and the community.

He also noted that the event marks the beginning of a new era for The Sandbox based on UGC and decentralized digital ownership, with over 5 million registered wallets, more than 800 global partners, and a 20% increase in user playtime compared to the same period last year.

The price of The Sandbox's SAND token did not react significantly to the recent updates, though it has risen nearly 20% since mid-October 2023.

4-hour chart of the SAND/USDT pair on Binance as of 07:45 PM on November 3, 2023