The Sandbox, a platform that enables the trading of virtual assets, is exploring raising fresh funds at a valuation of over $4B, according to a report by Bloomberg on Tuesday.
The company is set to raise nearly $400M from both new and existing investors. Sandbox is in talks with potential investors for the funding round.
Discussions are ongoing, and information such as the size and valuation for the new round could still change depending on the market sentiment and investor demand.
A new fundraising deal will come after the $93M The Sandbox raised in series B round led by SoftBank Vision Fund 2 in November.
The Sandbox gained popularity with its two namesake mobile games generating 40 million downloads in total. The company has also grown into virtual land sales, fashion, and concerts with its own cryptocurrency, SAND.
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