The Sandbox Continues Web3 Dominance, Announces Purchase of Leading Meme-Inspired Cryptocurrencies

Popular metaverse and Web3 gaming firm The Sandbox has announced the purchase of several leading meme-inspired cryptocurrencies as it believes “that culture of creativity is a cornerstone of the open metaverse and take time to engage in and help grow the Web3 ecosystem to benefit those who are a part of it.”

Metaverse and Web3 gaming giant The Sandbox has announced the purchase of several leading meme-inspired cryptocurrencies, aiming to support their communities and deepen its presence in Web3 culture.

In a recent blog post, the company revealed that it has acquired $PEPE, $SHIB, $MEME, $DOGE, $BONK, and $DEGEN, highlighting its commitment to fostering creativity within the open metaverse.

“We believe that the culture of creativity is a cornerstone of the open metaverse and take time to engage in and help grow the Web3 ecosystem to benefit those who are a part of it,” the post reads.

The Sandbox emphasized that the purchase of these cryptocurrencies is intended to support their respective communities and enhance its presence in Web3 culture.

“We're excited to announce that The Sandbox now holds @pepecoins, @Shibtoken, @bonk_inu, @Memeland, @degentokenbase, and @dogecoin!” the company tweeted.

“We're thrilled to integrate their unique cultures into our platform. #memecoins.”

The company further noted that it plans to use these memecoins in the future to launch engaging initiatives that will create additional utility for both its users and the broader memecoin community.

Founded in 2011 as a mobile game developer, The Sandbox shifted its focus to Web3 after becoming a subsidiary of Animoca Brands. In 2020, the company raised funds to build an Ethereum-based gaming world in a virtual environment where users can leverage NFTs to monetize their gameplay.

The Sandbox gained traction during the 2021 NFT boom, attracting high-profile users like Snoop Dogg, who created a virtual community, the Snoopverse, within the metaverse. In one notable incident, a user spent nearly $500,000 to secure virtual land near Snoop Dogg’s digital domain.

With a recent $20 million funding round led by LG Tech Ventures, The Sandbox achieved unicorn status, solidifying its position as a major player in the metaverse landscape.

News source：https://www.kdj.com/cryptocurrencies-news/articles/sandbox-continues-web-dominance-announces-purchase-leading-memeinspired-cryptocurrencies.html

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